Intellia Therapeutics, Inc. (NASDAQ:NTLA), a leading clinical-stage gene editing company, has outlined its strategic priorities for 2025, emphasizing the acceleration of late-stage programs for NTLA-2002 and nex-z. These therapies are aimed at treating hereditary angioedema (HAE) and transthyretin (ATTR) amyloidosis, respectively. As part of its strategic reorganization, Intellia has decided to discontinue the NTLA-3001 program and other early-stage initiatives, leading to a 27% reduction in its workforce and an estimated $8 million restructuring charge.
BMO Capital and Wells Fargo have both adjusted their price targets for Intellia Therapeutics. BMO Capital lowered its price target to $50 from $70, maintaining an Outperform rating, while Wells Fargo adjusted its target to $60 from $70, keeping an Overweight rating. These adjustments reflect the analysts' views on the company's strategic decisions and the progress of its clinical trials.
The Phase 3 HAELO study for NTLA-2002 is expected to complete enrollment in the second half of 2025, with a Biologics License Application planned for submission in the second half of 2026. The ongoing MAGNITUDE study for nex-z in ATTR-CM is anticipated to enroll more than 550 patients by year-end, indicating strong patient acceptance of gene editing therapies.
Intellia's focus on NTLA-2002 and nex-z as priority programs underscores its commitment to advancing gene editing technologies for the treatment of severe genetic disorders. Despite the challenges, including the recent stock performance and strategic reorganization, Intellia Therapeutics remains a key player in the CRISPR and gene therapy sectors, with significant potential for near-term value creation through its late-stage clinical programs.
