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Intellia Therapeutics NTLA incurred a loss of $1.10 per share (including one-time expenses of change in fair value of investments) in the first quarter of 2025, which was narrower than the Zacks Consensus Estimate of a loss of $1.26. In the year-ago quarter, the company had incurred a loss of $1.12 per share.
The company’s total revenues currently comprise only collaboration revenues. Intellia reported revenues of $16.6 million for the first quarter of 2025. Revenues declined 42.6% on a year-over-year basis. Revenues, however, beat the Zacks Consensus Estimate of $15 million. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
The year-over-year decrease in revenues was due to lower collaboration revenues received under the agreement with AvenCell.
Shares of Intellia were up 13.6% on May 8 owing to the better-than-expected results.
Year to date, the stock has plunged 28.9% compared with the industry’s decline of 8%.
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NTLA’s Q1 Earnings in Detail
Intellia’s collaboration revenues beat our model estimate of $4.9 million.
Research and development expenses totaled $108.4 million, down 3% from the year-ago quarter’s figure. The decrease was due to lower employee-related expenses, stock-based compensation and other costs.
General and administrative expenses decreased around 6.5% year over year to $29 million due to reduced stock-based compensation expenses and a reduction in workforce.
As of March 31, 2025, Intellia had cash, cash equivalents and marketable securities worth $707.1 million compared with $861.7 million as of Dec. 31, 2024. The company expects this cash balance to fund its ongoing operations into the first half of 2027.
NTLA's Recent Pipeline Updates
Intellia has collaborated with Regeneron Pharmaceuticals REGN for the development of its investigational in vivo genome-editing candidate, nexiguran ziclumeran (nex-z, also known as NTLA-2001), which is being studied for two indications — ATTR amyloidosis with polyneuropathy (ATTRv-PN) and ATTR amyloidosis with cardiomyopathy (ATTR-CM).
Nex-z is part of the company’s co-development and co-promotion agreement with Regeneron. While NTLA is the lead party in the deal for nex-z, REGN shares 25% of the development costs and commercial profits.
The phase III MAGNITUDE study is evaluating the safety and efficacy of nex-z in patients with ATTR-CM. Enrollment is currently ongoing in the study. The FDA granted the Regenerative Medicine Advanced Therapy (RMAT) designation to nex-z for the treatment of ATTR-CM in March.