Intellia Therapeutics Announces Second Quarter 2024 Financial Results and Highlights Recent Company Progress

Core Insights - Intellia Therapeutics reported positive results from the Phase 2 study of NTLA-2002 for hereditary angioedema, meeting all primary and secondary endpoints, and plans to advance to a pivotal Phase 3 trial with a selected 50 mg dose [1][2][3] - The company is on track to initiate multiple Phase 3 trials for NTLA-2001 and NTLA-3001 by the end of 2024, expanding its clinical pipeline [1][4][5] - Intellia ended Q2 2024 with approximately $940 million in cash, indicating a strong financial position to support ongoing and future clinical trials [1][9] Hereditary Angioedema (HAE) - NTLA-2002 demonstrated significant efficacy with a 98% mean reduction in monthly HAE attack rate and a high percentage of patients remaining attack-free for over 18 months after treatment [3] - The FDA has provided support for the Phase 3 plans following a successful end-of-Phase 2 meeting, with the trial expected to start in the second half of 2024 [2][3] Transthyretin (ATTR) Amyloidosis - NTLA-2001, now known as nexiguran ziclumeran (nex-z), is advancing rapidly in the Phase 3 MAGNITUDE trial for ATTR amyloidosis with cardiomyopathy, with regulatory approvals in over 12 countries [4] - A pivotal Phase 3 trial for hereditary ATTR amyloidosis with polyneuropathy is planned to begin by year-end 2024 [4] Alpha-1 Antitrypsin Deficiency (AATD) - NTLA-3001 is set to initiate a Phase 1/2 study in the second half of 2024, targeting AATD-associated lung disease through CRISPR-mediated gene insertion [5] Financial Performance - The company reported a net loss of $147 million for Q2 2024, compared to a loss of $124 million in Q2 2023, with total operating expenses slightly increasing year-over-year [9][16] - Collaboration revenue decreased to $7 million in Q2 2024 from $13.6 million in the same quarter of 2023, primarily due to reduced revenue from the AvenCell collaboration [9][16] Corporate Updates - Intellia appointed Brian Goff to its board of directors and Edward Dulac as Chief Financial Officer, enhancing its leadership team [8]