Investors this morning are watching gene editing stocks after Intellia Therapeutics (NASDAQ:NTLA) said it had successfully treated the first patients using a CRISPR gene-editing therapy directed inside the body to an internal organ. Gains in the niche group are led by NTLA stock, which was up more than 55% in pre-market trading.
Other names, including Bionano Genomics (NASDAQ:BNGO), Editas Medicine (NASDAQ:EDIT) and CRISPR Therapeutics (NASDAQ:CRSP), are up this morning on what Intellia called “landmark” results that support in vivo genome editing. Intellia is working with Regeneron Pharmaceuticals (NASDAQ:REGN).
Intellia and Regeneron on Saturday announced positive interim data from an ongoing Phase 1 clinical study of their lead in vivo genome editing candidate, NTLA-2001, which is being developed as a single-dose treatment for transthyretin (ATTR) amyloidosis.
“Thanks to large-scale human genetics research, there have been many new genetic targets identified and confirmed to have an impact on human health. Combining this knowledge with the precision and enhanced convenience of a single CRISPR infusion unlocks new possibilities in treating – and potentially even curing – life-threatening and historically difficult-to-address diseases,” said George D. Yancopoulos, president and chief scientific officer of Regeneron. His company first partnered with Intellia in 2016 to advance CRISPR/Cas9 gene-editing technology for in vivo therapeutic development.
NTLA Stock is One of Three CRISPR Patent Firms
CRISPR — an acronym for clustered regularly interspaced short palindromic repeats — is a system used by bacteria to protect themselves against viruses. The patents coming out of the discovery of the technology spawned three companies, CRISPR Therapeutics, Editas Medicine and Intellia, according to The Financial Times.
Intellia’s co-founder, Nobel Prize winner Jennifer Doudna, in 2012 discovered how to use CRISPR technology as a gene-editing tool.
Industry experts believe the DNA sequencing market will increase significantly in size and scope. According to data from Grand View Research, the global genomics market size reached a valuation of $20.1 billion in 2020. By the end of this year, the market size could hit $23.5 billion. And for 2028, analysts forecast the sector to bring in revenue of $62.9 billion.
Bionano Genomics’ flagship product is Saphyr, a platform that advances innovations in novel diagnostics and therapeutic targets. As a formerly small-capitalization firm, getting a viable chunk of the DNA sequencing market could translate to explosive gains.
However, as InvestorPlace contributor Josh Enomoto highlighted this morning, the science behind BNGO stock seems to have been missed as the shares have caught the eye of retail investors looking for a short squeeze. BNGO stock was up 4.8% in pre-market activity this morning, set to add to what so far is a 21.9% gain this month.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. His Substack newsletter, TLV Strategist, covers the Israel business scene.