Intellia Therapeutics stock falls after the company announces key milestones for 2025. It plans to reduce the current workforce by 27%.
NTLA stock is down significantly in 2024 as investors are not pleased with the recent data from its in vivo CRISPR-based therapies. We advise prospective investors to stay on the sidelines for now.
The FDA bestows a Regenerative Medicine Advanced Therapy tag to Intellia's nex-z for treating hereditary transthyretin (ATTR) amyloidosis with polyneuropathy.
Down 33% in 1 Month, Should You Buy the Dip With Intellia Therapeutics Stock?
Intellia initiated the Phase 3 HAELO trial for NTLA-2002, targeting lifelong control of hereditary angioedema (HAE) with a single-dose CRISPR-based therapy. Positive Phase 2 NTLA-2002 data showed most patients remained attack-free; however, limitations like small sample size and short follow-up require cautious interpretation. Phase 1 data for nexiguran ziclumeran (nex-z) in ATTR amyloidosis showed disease stabilization, but competitive therapies demonstrate more robust improvements.
Intellia Therapeutics' NTLA-2002 Phase II results last month were underwhelming, however, management reassured investors on the Q3 earnings call setting the stage for a modest rally. While last month's drop is appropriately discounting NTLA-2002, investors should be encouraged that 3 Phase III trials will be engaged by year-end, representing multiple opportunities for substantial upside. Intellia's financial position is robust with $945 million in cash, enough to fund operations into late 2026.
Intellia's third-quarter earnings and revenues surpass estimates. The company provides updates on its pipeline candidates.
Intellia Therapeutics, Inc. (NASDAQ:NTLA ) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET Company Participants Lina Li - Senior Director of Investor Relations and Corporate Communications John Leonard - President & Chief Executive Officer David Lebwohl - Chief Medical Officer Laura Sepp-Lorenzino - Executive Vice President & Chief Scientific Officer Ed Dulac - Executive Vice President & Chief Financial Officer Conference Call Participants Rick Bienkowski - Cantor Fitzgerald Yanan Zhu - Wells Fargo Securities Joseph Thome - TD Cowen Maury Raycroft - Jefferies Dae Gon Ha - Stifel Jay Olson - Oppenheimer Silvan Tuerkcan - Citizens JMP William Pickering - Bernstein Operator Good morning and welcome to Intellia Therapeutics' Third Quarter 2024 Financial Results Conference Call. My name is Drew and I will be your conference operator today.
Intellia Therapeutics, Inc. (NTLA) came out with a quarterly loss of $1.34 per share versus the Zacks Consensus Estimate of a loss of $1.37. This compares to loss of $1.38 per share a year ago.
There's nothing bearish at all about what it reported recently.
Maybe the Street is a bit too optimistic on this one.
Seemingly encouraging results from the lab were met with some notable skepticism.