CRISPR Therapeutics AG (NASDAQ: CRSP) saw its shares surge 5.03% in Wednesday's trading session amidst positive development for its partner company Intellia Therapeutics. The rally came as Intellia announced the dosing of the first patient in a pivotal Phase 3 study evaluating its investigational CRISPR gene editing therapy NTLA-2002 for the treatment of hereditary angioedema (HAE).

NTLA-2002, being developed in collaboration with CRISPR Therapeutics, has the potential to become the first one-time treatment for HAE, a rare and potentially life-threatening genetic disease. The Phase 3 study, called HAELO, aims to evaluate the efficacy and safety of a single infusion of NTLA-2002 in reducing the frequency of HAE attacks in patients.

The dosing of the first patient in this critical late-stage study marks a significant milestone for Intellia and CRISPR Therapeutics, bringing them one step closer to potentially revolutionizing the treatment paradigm for HAE patients. If successful, NTLA-2002 could offer patients independence from both HAE attacks and the need for chronic prophylactic medications currently used to manage the condition.