Investing.com — Shares of Intellia Therapeutics (NASDAQ:NTLA), Inc. shares took a nosedive today, falling about 20% after the company announced results from the Phase 2 trial of its experimental gene-editing therapy, NTLA-2002, for hereditary disorders. angioedema (HAE).
Despite data showing a reduction in HAE attacks, analysts expressed caution about the therapy’s competitiveness and inherent risks.
Intellia’s press release highlighted that the Phase 2 trial, which involved 27 participants, demonstrated a 75% to 81% reduction in the number of monthly seizures in patients receiving NTLA-2002.
They said eight of 11 patients in the higher 50 mg dose group reported a complete response and remained seizure-free for up to eight months after the infusion.
The therapy was said to be well tolerated, with no serious side effects reported. They added that the most common side effects were headache, fatigue and nasopharyngitis.
However, analysts at Baird reacted to the results by lowering their price target for Intellia’s stock from $24 to $18, while maintaining a neutral rating.
The company noted that while the therapy offers clear benefits, the reduction in seizures may not be sufficient to overcome the perceived risks of in vivo gene editing, especially in a competitive market.
“Although NTLA-2002 provided a clear benefit to patients, we expect that investors will view the ~75-80% reduction in HAE attacks as unimpressive in the context of the potential risks of in vivo gene editing and the competitive landscape in this situation. indication,” the company wrote.
“We expect the shares to face increasing headwinds from the dilution,” she added.
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