Beam Therapeutics rises after FDA clears genetic disorder drug application

Biotech firm Beam Therapeutics' BEAM.O shares rise 5.6% to $23.43 premarket

BEAM said late on Thursday that the U.S. FDA has cleared its marketing application for its experimental drug, BEAM-302, to treat a type of genetic disorder called alpha-1 antitrypsin deficiency (AATD)

AATD is a rare genetic disorder associated with a considerable burden of lung and liver disease, and for which there are no currently approved curative treatments, co says

Brokerage BofA Global Research says data from the drug's clinical trial, though early-stage, is "potentially practice-changing"

Brokerage remains positive on the market for AATD with more than $5 billion unadjusted peak sales

Thirteen of 17 brokerages rate the stock "buy" or higher, 4 "hold"

As of last close, BEAM has fallen ~35% in the past 12 months