Intellia Therapeutics(NTLA) - 2025 Q3 - Quarterly Results

Financial Performance - Intellia ended Q3 2025 with approximately $670 million in cash, cash equivalents, and marketable securities, expected to fund operations into mid-2027[3] - Collaboration revenue for Q3 2025 was $13.8 million, up from $9.1 million in Q3 2024, reflecting a $4.7 million increase primarily from cost reimbursements with Regeneron Pharmaceuticals[12] - R&D expenses decreased to $94.7 million in Q3 2025 from $123.4 million in Q3 2024, a reduction of $28.7 million driven by lower employee-related expenses and research materials[12] - Net loss for Q3 2025 was $101.3 million, compared to a net loss of $135.7 million in Q3 2024[12] - Net loss for Q3 2025 was $101,324,000, compared to a net loss of $135,712,000 in Q3 2024, showing an improvement of 25.3%[19] - Net loss per share for Q3 2025 was $0.92, down from $1.34 in Q3 2024[19] - Interest income for Q3 2025 was $6,714,000, down from $12,122,000 in Q3 2024[19] - Change in fair value of investments for Q3 2025 was $3,439,000, compared to a loss of $3,064,000 in Q3 2024[19] Operational Updates - Enrollment in the MAGNITUDE Phase 3 trial for ATTR-CM includes over 650 patients, while MAGNITUDE-2 has 47 patients enrolled for ATTRv-PN[6] - The FDA placed a clinical hold on the MAGNITUDE and MAGNITUDE-2 trials for nex-z, with the company awaiting further guidance[5] - Topline data from the HAELO Phase 3 trial of lonvo-z is expected by mid-2026, with a potential U.S. commercial launch in the first half of 2027[3] - The company plans to present longer-term data from the Phase 1/2 trial of lonvo-z on November 8, 2025[12] - Intellia has suspended milestone guidance for nex-z pending regulatory alignment due to the clinical hold[7] Expense Management - Stock-based compensation included in R&D expenses was $12.2 million for Q3 2025[12] - Total operating expenses decreased to $125,259,000 in Q3 2025 from $153,881,000 in Q3 2024, representing a reduction of 18.7%[19] Balance Sheet Highlights - Cash, cash equivalents, and marketable securities as of September 30, 2025, totaled $669,858,000, a decrease from $861,730,000 as of December 31, 2024[20] - Total assets decreased to $925,275,000 as of September 30, 2025, from $1,191,015,000 as of December 31, 2024[20] - Total liabilities decreased significantly to $176,853,000 as of September 30, 2025, from $319,059,000 as of December 31, 2024[20] - Total stockholders' equity decreased to $748,422,000 as of September 30, 2025, from $871,956,000 as of December 31, 2024[20]