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Intellia Therapeutics Announces First Quarter 2025 Financial Results and Highlights Recent Company Progress
Globenewswireยท 2025-05-08 11:30
Core Insights - Intellia Therapeutics reported significant progress in its clinical programs, including the initiation of Phase 3 studies for hereditary angioedema (HAE) and hereditary ATTR amyloidosis with polyneuropathy [2][5] - The company ended Q1 2025 with approximately $707.1 million in cash, expected to fund operations into the first half of 2027 [5][10] - Collaboration revenue decreased to $16.6 million in Q1 2025 from $28.9 million in Q1 2024, primarily due to a reduction in revenue from the AvenCell license [10][16] Operational Highlights - The first patients were dosed in the Phase 3 HAELO study for hereditary angioedema and the MAGNITUDE-2 study for hereditary ATTR amyloidosis with polyneuropathy [2][5] - Enrollment in the global Phase 3 MAGNITUDE trial for ATTR with cardiomyopathy is progressing ahead of projections, with expectations to exceed 550 patients by year-end [9][10] - Upcoming presentations include longer-term data from the Phase 1 study of NTLA-2002 at the EAACI Congress in June 2025 [2][6] Financial Results - Cash, cash equivalents, and marketable securities decreased from $861.7 million as of December 31, 2024, to $707.1 million as of March 31, 2025 [10][18] - Research and development expenses were $108.4 million in Q1 2025, a slight decrease from $111.8 million in Q1 2024 [10][16] - The net loss for Q1 2025 was $114.3 million, compared to a net loss of $107.4 million in Q1 2024 [10][16] Upcoming Events - Intellia will participate in several conferences, including the Bank of America Securities Health Care Conference on May 13, 2025, and the EAACI Congress on June 15, 2025 [10][12]