Why Intellia Therapeutics' Stock Is Trading Higher Today

Intellia Therapeutics Inc NTLA is trading significantly higher Thursday after the company announced its second-quarter financial results and said it plans to initiate Phase 1 trials for its next two candidates later this year.

The company said it plans to initiate first-in-human studies for both NTLA-2002 for hereditary angioedema and NTLA-5001 for acute myeloid leukemia in 2021.

Intellia Therapeutics reported a quarterly earnings loss of $1.01 per share, which came in below the estimate for a loss of 63 cents per share. The company reported quarterly revenue of $6.55 million, which came in below the estimate of $11.89 million. 

"We look forward to initiating Phase 1 trials this year for our next two candidates, NTLA-2002 for HAE and NTLA-5001 for AML. We will also share additional interim data from NTLA-2001 later this year," said John Leonard, president and CEO of Intellia Therapeutics.

Price Action: Intellia Therapeutics has traded as high as $202.73 and as low as $16.54 over a 52-week period.

At last check Thursday, the stock was up 15.80% at $170.19.