01:56 PM EDT, 06/03/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Intellia Therapeutics' ( NTLA ) shares rose 10% in recent Monday afternoon trading after the company said it observed a 98% mean reduction in monthly attack rate in the phase 1 portion of its ongoing phase 1/2 study of NTLA-2002.

The study is evaluating the safety and activity of NTLA-2002 in adults with Type I or Type II hereditary angioedema, or HAE, a rare genetic condition that leads to potentially life-threatening swelling attacks.

The company also observed a 99% mean reduction in moderate to severe attacks after a single dose of NTLA-2002 through the latest follow-up.

Moreover, the company said that the reduction in HAE attacks has been persistent in patients with the most severe symptoms and 100% of patients who discontinued prophylaxis treatment after NTLA-2002 remain free of chronic prophylaxis treatment.

Eight of 10 patients had no attacks after the 16-week primary observation period, the company said.

Price: 23.52, Change: +2.14, Percent Change: +10.01