Intellia adverse event could resurface questions, says JPMorgan

JPMorgan says Intellia Therapeutics (NTLA) disclosed the first case of Grade 4 grade 4 liver transaminase elevations in its nex-z’s pivotal Magnitude trial in transthyretin amyloid cardiomyopathy. “To our surprise,” the update was triggered by management’s investor discussion, and was not a part of standard disclosure, as the pivotal study remains blinded and ongoing, the analyst tells investors in a research note. The firm does not view this adverse event as a significant departure from what it already knows. The occurrence of liver enzyme elevation appeared lower than what was learned from the Phase 1, contends JPMorgan. However, it believes update could again resurface investor questions on gene editor’s longer-term safety, the risk/reward of using gene editors, and the competitive prospect. The firm keeps a Neutral rating on Intellia. The stock in premarket trading is down 15% To $8.20.