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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Intellia Therapeutics Inc | NASDAQ:NTLA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.83 | 3.19% | 26.84 | 26.81 | 26.84 | 26.96 | 25.92 | 26.36 | 548,449 | 16:26:17 |
“In 2019, we advanced our full-spectrum strategy, guiding both our in vivo and ex vivo lead programs toward the clinic. We also continued to build on our genome editing and delivery capabilities to enable a rapid succession of candidates,” said Intellia President and Chief Executive Officer, John Leonard, M.D. “We are off to a productive start in 2020. We announced the nomination of NTLA-5001, a WT1-directed TCR-T cell therapy for the treatment of AML, and plan to select our third development candidate in the first half of this year, which will be for the treatment of HAE. In addition, in the second half of the year, we expect to begin dosing ATTR patients with NTLA-2001, a potential single-course treatment for ATTR patients. This is anticipated to be the first-ever systemically delivered CRISPR/Cas9-based therapy to enter the clinic, representing an important milestone in our mission to deliver potentially curative therapies from our proprietary modular platform.”
2019 and Recent Operational Highlights
Upcoming Milestones
The Company has set forth the following for pipeline progression:
Upcoming Event
The Company will participate in the following investor event during the first quarter of 2020:
Fourth Quarter and Full Year 2019 Financial Results
Financial Guidance
Intellia expects that its cash, cash equivalents and marketable securities as of December 31, 2019 will enable the Company to fund its anticipated operating expenses and capital expenditure requirements at least through the end of 2021. This expectation excludes any strategic use of capital not currently in the Company’s base-case planning assumptions.
Conference Call to Discuss Fourth Quarter and Full Year 2019 Earnings
The Company will discuss these results on a conference call today, February 27, 2020, at 8 a.m. ET.
To join the call:
A replay of the call will be available through the Events and Presentations page of the Investor Relations section on Intellia’s website, beginning on February 27, 2020 at 12 p.m. ET.
About Intellia TherapeuticsIntellia Therapeutics is a leading genome editing company focused on developing proprietary, curative therapeutics using the CRISPR/Cas9 system. Intellia believes the CRISPR/Cas9 technology has the potential to transform medicine by permanently editing disease-associated genes in the human body with a single treatment course, and through improved cell therapies that can treat cancer and immunological diseases, or can replace patients’ diseased cells. The combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts Intellia in a unique position to unlock broad therapeutic applications of the CRISPR/Cas9 technology and create a new class of therapeutic products. Learn more about Intellia Therapeutics and CRISPR/Cas9 at intelliatx.com and follow us on Twitter @intelliatweets.
Forward-Looking Statements This press release contains “forward-looking statements” of Intellia Therapeutics, Inc. (“Intellia” or the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding Intellia’s beliefs and expectations regarding its: planned submission of an investigational new drug (“IND”) application or similar clinical trial application for NTLA-2001 for the treatment of transthyretin amyloidosis (“ATTR”) in mid-2020 and its planned dosing of first patients in the second half of 2020; plans to submit an IND application for NTLA-5001, its first T cell receptor (“TCR”)-directed engineered cell therapy development candidate for its acute myeloid leukemia (“AML”) program in the first half of 2021; plans to nominate a development candidate for its hereditary angioedema (“HAE”) program in the first half of 2020; plans to advance and complete preclinical studies, including non-human primate studies for its ATTR program, AML program, HAE program and other in vivo and ex vivo programs; development of a proprietary LNP/AAV hybrid delivery system, as well as its modular platform to advance its complex genome editing capabilities, such as gene insertion; presentation of additional data at upcoming scientific conferences, and other preclinical data in 2020; advancement and expansion of its CRISPR/Cas9 technology to develop human therapeutic products, as well as its ability to maintain and expand its related intellectual property portfolio; ability to demonstrate its platform’s modularity and replicate or apply results achieved in preclinical studies, including those in its ATTR, AML, and HAE programs, in any future studies, including human clinical trials; ability to develop other in vivo or ex vivo cell therapeutics of all types, and those targeting WT1 in AML in particular, using CRISPR/Cas9 technology; ability to continue its growth and realize the anticipated contribution of the members of its board of directors and executives to its operations and progress; ability to optmize the impact of its collaborations on its development programs, including but not limited to its collaborations with Novartis or Regeneron Pharmaceuticals, Inc., and Regeneron’s ability to enter into a co-development and co-promotion agreement for the HAE program; statements regarding the timing of regulatory filings regarding its development programs; use of capital, expenses, future accumulated deficit and other 2019 financial results or in the future; and ability to fund operations through the end of 2021.
Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to Intellia’s ability to protect and maintain its intellectual property position; risks related to Intellia’s relationship with third parties, including its licensors and licensees; risks related to the ability of its licensors to protect and maintain their intellectual property position; uncertainties related to the initiation and conduct of studies and other development requirements for its product candidates; the risk that any one or more of Intellia’s product candidates will not be successfully developed and commercialized; the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies; and the risk that Intellia’s collaborations with Novartis or Regeneron or its other ex vivo collaborations will not continue or will not be successful. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Intellia’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Intellia’s most recent annual report on Form 10-K as well as discussions of potential risks, uncertainties, and other important factors in Intellia’s other filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Intellia undertakes no duty to update this information unless required by law.
INTELLIA THERAPEUTICS, INC. | ||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||||||||||||
(Amounts in thousands, except per share data) | ||||||||||||||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | |||||||||||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||||||||||
Collaboration revenue | $ | 10,936 | $ | 7,880 | $ | 43,103 | $ | 30,434 | ||||||||||||
Operating expenses: | ||||||||||||||||||||
Research and development | 31,731 | 19,918 | 108,413 | 89,115 | ||||||||||||||||
General and administrative | 8,976 | 8,708 | 41,058 | 32,189 | ||||||||||||||||
Total operating expenses | 40,707 | 28,626 | 149,471 | 121,304 | ||||||||||||||||
Operating loss | (29,771 | ) | (20,746 | ) | (106,368 | ) | (90,870 | ) | ||||||||||||
Interest income | 1,495 | 1,680 | 6,835 | 5,527 | ||||||||||||||||
Net loss | $ | (28,276 | ) | $ | (19,066 | ) | $ | (99,533 | ) | $ | (85,343 | ) | ||||||||
Net loss per share, basic and diluted | $ | (0.57 | ) | $ | (0.43 | ) | $ | (2.11 | ) | $ | (1.98 | ) | ||||||||
Weighted average shares outstanding, basic and diluted | 49,350 | 44,215 | 47,247 | 43,069 | ||||||||||||||||
INTELLIA THERAPEUTICS, INC. | ||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||||||||
(Amounts in thousands) | ||||||||||
December 31, 2019 | December 31, 2018 | |||||||||
Cash, cash equivalents and marketable securities | $ | 284,472 | $ | 314,059 | ||||||
Total assets | 334,280 | 347,315 | ||||||||
Total liabilities | 64,399 | 69,395 | ||||||||
Total stockholders' equity | 269,881 | 277,920 | ||||||||
Intellia Contacts:
Investors:Lina LiAssociate DirectorInvestor Relations+1 857-706-1612lina.li@intelliatx.com
Media:Jennifer Mound SmoterSenior Vice PresidentExternal Affairs & Communications+1 857-706-1071jenn.smoter@intelliatx.com
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