Intellia’s stock is up 6% on data from an early-stage trial for its Crispr therapy

Shares of Intellia Therapeutics Inc. NTLA, -13.41% gained 6.5% in premarket trading on Friday after the company and Regeneron Pharmaceuticals Inc. REGN, +0.78% announced positive data from an ongoing Phase 1 clinical trial evaluating their investigational Crispr therapy as a treatment for transthyretin amyloidosis with cardiomyopathy, which can cause heart failure. The data demonstrated a reduction in serum transthyretin in 12 patients for up to six months. “At these deep and consistent levels of protein reduction, we believe NTLA-2001 has the potential to halt and even reverse the underlying cause of ATTR amyloidosis,” Intellia President and CEO John Leonard said in a news release. Intellia’s stock has declined 42.0% this year, while the broader S&P 500 SPX, -1.24% is down 18.1%.