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Intellia Therapeutics Announces Fourth Quarter and Full-Year 2024 Financial Results and Highlights Recent Company Progress
NTLAIntellia Therapeutics(NTLA) GlobeNewswire·2025-02-27 12:30

Core Insights - Intellia Therapeutics reported strong operational execution and clinical data in Q4 2024, focusing on pivotal Phase 3 studies for NTLA-2002 and nex-z [2][5] - The company aims to submit a Biologics License Application for NTLA-2002 in HAE by the second half of 2026 and plans for a U.S. launch in 2027 [5][6] - Intellia's cash position at the end of 2024 was approximately 862million,expectedtofundoperationsintothefirsthalfof2027[5][15]OperationalHighlights−ThefirstpatientwasdosedintheglobalPhase3HAELOstudyforNTLA−2002,targetinglifelongcontrolofHAEattacksafterasingledose[5][6]−EnrollmentintheMAGNITUDEtrialfornex−zinATTRamyloidosisisaheadofprojections,withover550patientsexpectedbyyear−end[5][6]−ThecompanyisactivelyscreeningforthePhase3MAGNITUDE−2trialforhereditaryATTRamyloidosiswithpolyneuropathy,aimingtodosethefirstpatientinQ12025[5][6]FinancialResults−CollaborationrevenueforQ42024was862 million, expected to fund operations into the first half of 2027 [5][15] Operational Highlights - The first patient was dosed in the global Phase 3 HAELO study for NTLA-2002, targeting lifelong control of HAE attacks after a single dose [5][6] - Enrollment in the MAGNITUDE trial for nex-z in ATTR amyloidosis is ahead of projections, with over 550 patients expected by year-end [5][6] - The company is actively screening for the Phase 3 MAGNITUDE-2 trial for hereditary ATTR amyloidosis with polyneuropathy, aiming to dose the first patient in Q1 2025 [5][6] Financial Results - Collaboration revenue for Q4 2024 was 12.9 million, a significant increase from negative 1.9 million in Q4 2023, primarily due to Regeneron agreements [15] - R&D expenses rose to 116.9 million in Q4 2024 from 109.0millioninQ42023,drivenbyadvancementsinleadprograms[15]−ThenetlossforQ42024was109.0 million in Q4 2023, driven by advancements in lead programs [15] - The net loss for Q4 2024 was 128.9 million, slightly improved from 132.2millioninQ42023[15][18]CorporateStrategy−Followingastrategicreview,thecompanywillprioritizelate−stageprogramsNTLA−2002andnex−z,discontinuingNTLA−3001andreducingworkforcebyapproximately27132.2 million in Q4 2023 [15][18] Corporate Strategy - Following a strategic review, the company will prioritize late-stage programs NTLA-2002 and nex-z, discontinuing NTLA-3001 and reducing workforce by approximately 27% [8] - Intellia expects to incur about 8 million in charges for severance and related costs in Q1 2025 [8] Upcoming Events - Intellia will participate in several conferences in Q1 2025, including the AAAAI/WAO Joint Congress and the TD Cowen Annual Health Care Conference [10]