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Investing.com - William Blair downgraded Intellia (NASDAQ:NTLS) stock rating from Outperform to Market Perform on Monday following safety concerns with the company’s gene therapy treatment.
The downgrade comes after Intellia announced Monday that it has voluntarily paused enrollment and dosing in its Phase III MAGNITUDE and MAGNITUDE-2 clinical trials for ATTR-cardiomyopathy and ATTR-polyneuropathy, respectively.
The company is investigating its TTR gene editor nex-z (NTLA-2001) after a patient in the MAGNITUDE study was hospitalized with abdominal pain and subsequently developed grade 4 increases in liver enzymes.
William Blair cited "current uncertainties surrounding safety of NTLA-2001" as the primary reason for the downgrade, noting that these safety concerns emerged within the last 72 hours.
The paused studies were evaluating Intellia’s gene editing treatment for both ATTR-cardiomyopathy and ATTR-polyneuropathy, two manifestations of transthyretin amyloidosis.
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