Shares of Intellia Therapeutics, Inc. (NASDAQ: NTLA) below -6.40% and ended at $26.76. The stock’s market capitalization arrived at $1.153B and total traded volume was 604,164 shares. The stock has a 52-week highest price of $35.99 and its 52-week lowest price was called at $14.45. During last trade, its maximum trading price was registered $28.85 and it’s the minimum trading price was noted $26.74.
Intellia Therapeutics, Inc. (NTLA) reported financial results and operational progress for the first quarter of 2018.
John Leonard, M.D., was designated Intellia’s President and Chief Executive Officer in the first quarter of 2018, and one of his first initiatives was to broaden the Company’s strategy. “We are building the premier CRISPR-based genome editing company with leading in vivoand ex vivo capabilities,” stated Dr. Leonard. “We are very happy with the scientific data generated from our in vivo non-human primate (NHP) studies, and the progress with our modular, scalable lipid nanoparticle (LNP) delivery system has allowed us to target a timeframe for our first Investigational New Drug (IND) submission. As we continue to execute on our full spectrum of in vivo and ex vivo genome editing platforms, we will share progress on our differentiated, wholly owned ex vivo approach, starting this month at the American Society of Gene and Cell Therapy Yearly Meeting.”
The Company reported recently that it anticipates submitting an IND application for its lead indication, transthyretin amyloidosis (ATTR), by the end of 2019 and confirms plans to initiate IND-enabling studies in mid-2018. Over the past six months, ongoing NHP studies have demonstrated well-tolerated editing to therapeutically relevant levels of transthyretin (TTR) protein reduction (60 to 80 percent) after a single systemic administration via LNP delivery to NHP hepatocytes. Rates of editing were durable over the six-month period without re-dosing the animals. In support of the proposed IND submission, Intellia has narrowed the field of potential guides to its current development candidate for early human trials. The guide-optimization process used high-throughput screening to evaluate the entire TTR gene for those guides with high levels of activity and undetectable off-target cutting. The Company has completed studies to understand potential dosing regimens and is continuing studies on durability of the effect, both of which may expedite Phase I clinical trials. Intellia has also developed an improved LNP formulation through optimization campaigns that is presently being tested for multiple follow-on liver indications, and anticipates that this modular approach may minimize development timelines for each additional and subsequent liver-targeted product candidate.
Intellia has also demonstrated continued progression of its modular liver platform capability to knockout various targets of interest in the livers of mice, including SERPINA1 for alpha-1 antitrypsin deficiency (AATD) and HAO1 for primary hyperoxaluria type 1 (PH1), each of which has resulted in protein expression reductions believed to be therapeutically relevant. This initial knockout edit in AATD lays the groundwork for developing an approach that restores production of the missing protein in AATD, required for the amelioration of the disease.
NTLA stock price showed weak performance of -13.09% in last seven days, switched up 5.69% in last thirty days and it rose 67.04% in last one year. It has 45.89 million of outstanding shares and its shares float measured at 30.74.