Intellia Therapeutics, Inc. reported a net loss of $114.3 million for the first quarter of 2025, compared to a net loss of $107.4 million for the same period in 2024. The company's collaboration revenue decreased to $16.6 million from $28.9 million year-over-year, primarily due to reduced revenue from its collaboration with AvenCell Therapeutics. Operating expenses also saw a decline, totaling $137.4 million, down from $142.9 million in the previous year, driven by lower research and development costs, which fell to $108.4 million from $111.8 million.
As of March 31, 2025, Intellia's total assets were reported at $986.2 million, a decrease from $1.2 billion at the end of 2024. The company's cash and cash equivalents stood at $126.9 million, down from $189.2 million at the end of the previous fiscal year. The decline in cash reserves is attributed to significant cash outflows related to restructuring efforts, including a workforce reduction of approximately 27% announced in January 2025, which resulted in $6.5 million in restructuring charges.
In terms of operational developments, Intellia continues to advance its clinical programs, particularly its lead candidates, nex-z for ATTR amyloidosis and NTLA-2002 for hereditary angioedema (HAE). The company has received Regenerative Medicine Advanced Therapy (RMAT) designation for both candidates, which may expedite their development and regulatory review processes. However, the company faces significant competition in the gene editing space, with other firms also developing therapies for similar indications.
Looking ahead, Intellia expects its current cash, cash equivalents, and marketable securities will be sufficient to fund its operations into the first half of 2027. The company plans to focus its resources on high-value programs within its pipeline, particularly those that have the potential to achieve near-term clinical milestones. However, the company acknowledges the inherent risks in clinical development and the uncertainty surrounding regulatory approvals, which could impact its ability to generate revenue and achieve profitability in the future.
About Intellia Therapeutics, Inc.
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