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Intellia Therapeutics, Inc. NTLA is a clinical-stage company with focus on developing gene editing therapies, especially for rare diseases. The company earns revenues from its collaboration partners.
The company is developing its lead pipeline candidate, NTLA-2001, as potential treatment for hereditary transthyretin amyloidosis with polyneuropathy in an early-stage study. The company has several other gene editing pipeline candidates in pre-clinical stage. The company plans to submit an investigational new drug application for NTLA-5001 and NTLA-2002 as potential gene editing therapies for acute myeloid leukemia and hereditary angioedema, respectively, in 2021.
Intellia’s performance has been mixed so far, with the company’s earnings beating expectations in two of the trailing four quarters, while missing the same twice. Overall, the company has delivered an average negative surprise of 10.64%.
Currently, Intellia has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Intellia incurred loss of 69 cents per share in the fourth quarter of 2020, which was wider than our consensus estimate as well as year-ago loss of 57 cents.
Revenues Beat: Revenues were down 39.7% year over year at CER to $6.6 million. Revenues also missed the Zacks Consensus Estimate of $14.39 million.
Key Stats: Research and development expenses increased 20.5% year over year to $38.2 million. General and administrative expenses were $10.7 million, up 19.9% from year-ago period.
2021 Guidance: Intellia expects its cash resources enough to fund its operations for at least through the next 24 months.
Share Price Impact: Shares were up 8.1% in pre-market trading.
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