NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of Intellia Therapeutics, Inc. ("Intellia" or the "Company") (NASDAQ: NTLA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Intellia and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 4, 2022, Intellia issued a press release "report[ing] operational highlights and financial results for the second quarter ended June 30, 2022." Among other items, Intellia reported a net loss of $100.7 million, or $1.33 per diluted share, slightly worse than the consensus estimate for net loss of $1.31 per diluted share. Intellia also disclosed plans to focus exclusively on developing ex vivo (out of the body) allogeneic (commonly referred to as off-the-shelf) cell therapies. In connection with this shift in focus, Intellia advised that the Company was discontinuing a clinical study evaluating the experimental cell therapy NTLA-5001.
On this news, Intellia's stock price fell $6.27 per share, or 8.74%, to close at $65.43 per share on August 4, 2022.
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SOURCE: Pomerantz LLP