This Stock Is Up 58% This Year. Is It too Late to Buy?
There could be additional catalysts for this drugmaker over the next year.
This Stock Is Up 58% This Year. Is It too Late to Buy?
Overview
Intellia Therapeutics (NASDAQ: NTLA), a clinical-stage biotech company, did not start the year on a strong note. The company was dealing with regulatory issues: The U.S. Food and Drug Administration had put a pair of its phase 3 studies on clinical hold following the death of a patient from liver damage. However, Intellia Therapeutics was able to overcome that obstacle and resume its late-stage clinical trials. And since then, the company has made even more progress on the clinical front, helping send its stock price much higher. Shares are up 58% year to date. Is it still time to invest in Intellia Therapeutics?
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On April 27, Intellia Therapeutics announced positive results from a phase 3 clinical trial for one of its leading candidates, lonvo-z. This investigational gene-editing medicine targets hereditary angioedema (HAE), a rare genetic condition that causes painful swelling attacks across the body. Although there are standards of care for this condition, there is no permanent cure. The disease, although very rare (it affects about one person in 50,000), places a significant financial burden on patients, their families, and the healthcare system.
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Originally published at www.fool.com.
