Why Editas Medicine Stock Is Skyrocketing for the Fourth Day in a Row

This might seem like deja vu. Editas Medicine (NASDAQ: EDIT) shares soared on Monday. Then on Tuesday. And on Wednesday. The stock is on fire again today, skyrocketing 22.3% as of 11:09 a.m. EST.

The big jump today, though, isn't based on Editas' positive weekend update about its experimental gene-editing therapy EDIT-301. Editas announced after the market closed on Wednesday that it has submitted an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) for the initiation of a phase 1/2 clinical study evaluating the experimental therapy in treating sickle cell disease.

Image source: Getty Images.

Continue reading

Source Fool.com