Intellia Therapeutics Inc
Q1 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +6.73%.
Did NTLA Beat Earnings? Q1 2025 Results
Intellia Therapeutics delivered a stronger-than-expected first quarter, beating both earnings and revenue estimates as the CRISPR-focused biotech navigated a period of deliberate portfolio reshaping. The company posted a loss of $1.10 per share against a consensus estimate of $1.27, a 13.46% beat, while collaboration revenue of $16.63 million topped the $11.99 million consensus by 38.72%, though it fell 42.5% year over year, largely because of reduced contributions under the AvenCell license and collaboration agreement. Operating expenses edged lower, with R&D declining to $108.43 million and G&A falling to $29.01 million, aided by a January workforce reduction. Cash, cash equivalents, and marketable securities stood at $707.10 million at quarter-end, with management projecting that runway extends into the first half of 2027. Looking ahead, Intellia expects to complete enrollment in its Phase 3 HAELO hereditary angioedema study in Q3 2025 and file a BLA in the second half of 2026, with updated clinical data on nexiguran ziclumeran anticipated in the back half of this year.
- Decreased collaboration revenue driven by lower AvenCell license and collaboration agreement revenue
- Lower R&D and G&A expenses from workforce reduction and reduced stock-based compensation
- Non-recurring cash payments of approximately $51 million related to portfolio prioritization, workforce reduction, and real estate consolidation
“Intellia is full steam ahead and making excellent progress across its clinical programs. Two key achievements in the first quarter were dosing the first patients in two of our Phase 3 studies: the HAELO study for hereditary angioedema and the MAGNITUDE-2 study for hereditary ATTR amyloidosis with polyneuropathy. Additionally, our Phase 3 MAGNITUDE study for ATTR with cardiomyopathy continues to enroll rapidly. Upcoming catalysts include longer-term data from the ongoing Phase 1 study of NTLA-2002 at the upcoming EAACI Congress in addition to updated data from the Phase 2 study of NTLA-2002 and longer-term Phase 1 data of nex-z in the second half of 2025.”
Intellia Therapeutics CEO, on the earnings call
Forward Guidance & Outlook
Intellia expects to complete enrollment of the Phase 3 HAELO study for HAE in Q3 2025 and to submit a BLA in the second half of 2026. The Phase 3 MAGNITUDE trial for ATTR-CM is enrolling ahead of projections, with enrollment expected to exceed 550 patients by year-end 2025. Phase 3 MAGNITUDE-2 enrollment for ATTRv-PN is expected to be completed in 2026. Longer-term Phase 1 data for nex-z and updated Phase 2 data for NTLA-2002 are expected in the second half of 2025. Current cash, cash equivalents and marketable securities of approximately $707.1 million are expected to fund operations into the first half of 2027.
NTLA YoY Financials
NTLA Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.