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Intellia (NTLA) Up on Deal With ONK for Cancer Therapies

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Intellia Therapeutics, Inc. NTLA announced that it has entered into a licensing and collaboration agreement with a privately-held company, ONK Therapeutics, Inc., to develop new therapies for the treatment of cancer.

The collaboration will utilise Intellia’s proprietary ex-vivo CRISPR/Cas9-based genome editing platform and LNP delivery technologies combined with ONK’s optimized natural killer (NK) cell therapy platform to develop allogeneic CRISPR-edited NK cell therapies for cancer treatment.

Under the agreement terms, Intellia will grant non-exclusive rights of its proprietary platforms and technologies to ONK Therapeutics. ONK will receive exclusive rights to certain guide RNAs (gRNAs) derived from using Intellia’s platforms and hold exclusive rights over the same. These gRNAs will be engineered by ONK to develop up to five NK cell products. ONK will also hold the responsibility for the preclinical and clinical development of engineered NK cell therapies.

In return, Intellia will be eligible to receive up to $184 million per product in potential milestones and mid-single-digit royalty payments on future sales.

Per the press release, Intellia can opt to co-develop and co-commercialize up to two products worldwide. If opted, NTLA will share 50% of any future profit and loss generated by the product, instead of receiving royalties and milestone payments. Further, Intellia will be granted lead commercialization rights only in the United States, while rights outside the country will still remain with ONK Therapeutics.

Shares of Intellia gained 9.1% after the announcement. Investors were mostly likely impressed with the milestone payment of $184 million per product. In fact, the stock has rallied 43.2% in the past year against the industry’s 39.2% decline.

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Intellia remains focused on developing curative therapeutics using the CRISPR/Cas9 technology. The company is evaluating its lead in-vivo genome-editing candidate, NTLA-2001, in a phase I study for treating transthyretin amyloidosis with polyneuropathy. NTLA-2001 is part of a co-development and co-promotion agreement with Regeneron Pharmaceuticals REGN .

While Intellia is the lead party for NTLA-2001, Regeneron will share 25% of the development costs and commercial profits. Both Intellia and Regeneron are also developing therapies for hemophilia A and hemophilia B.

Intellia also initiated a phase I/II study evaluating NTLA-2002 for the treatment of hereditary angioedema (“HAE”) in December 2021. NTLA-2002 aims to prevent HAE attacks by suppressing the plasma kallikrein activity.

NTLA-5001 is the company’s first wholly-owned ex-vivo genome editing candidate for the treatment of cancer. In fourth-quarter 2021, Intellia started patient screening in a phase I/IIa study evaluating NTLA-5001 in adults with persistent or recurrent AML who have previously received first-line therapy.

Intellia Therapeutics, Inc. Price

Intellia Therapeutics, Inc. Price
Intellia Therapeutics, Inc. Price

Intellia Therapeutics, Inc. price | Intellia Therapeutics, Inc. Quote

Zacks Rank & Key Picks

Intellia Therapeuticscurrently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the drug/biotech sector include Theravance Biopharma TBPH and Vertex Pharmaceuticals VRTX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Theravance Biopharma’s earnings per share estimates for 2022 have increased from 47 cents to 48 cents in the past 30 days.

Earnings of Theravance Biopharma beat estimates in three of the last four quarters and missed the mark on one occasion, with the average surprise being 7.3%.

Vertex Pharmaceuticals’ earnings per share estimates for 2022 have increased from $13.39 to $14.33 in the past 30 days. The same for 2023 has risen from $14.10 to $15.31 in the past 30 days. VRTX has risen 8.1% in the past year.

Earnings of Vertex Pharmaceuticals beat estimates in each of the last four quarters, delivering a surprise of 10%, on average.


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Intellia Therapeutics, Inc. (NTLA) : Free Stock Analysis Report

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