Investigation of Intellia Therapeutics by Faruqi & Faruqi, LLP

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NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a prominent national securities law firm, is currently investigating potential claims against Intellia Therapeutics, Inc. ("Intellia" or the "Company") (NASDAQ: NTLA). Investors should note the April 14, 2025 deadline for filing to take on the role of lead plaintiff in a federal securities class action against the Company.

Faruqi & Faruqi has been successful in recovering significant funds for investors since its establishment in 1995, with offices in New York, Pennsylvania, California, and Georgia. The firm can be accessed at www.faruqilaw.com.

The lawsuit accuses the Company and its top executives of violating federal securities laws through misleading and/or false statements, as well as failing to reveal crucial information regarding Intellia's Phase 1/2 study of NTLA-3001 for treating alpha-1 antitrypsin deficiency (AATD)-associated lung disease. These statements included expectations regarding the timeline for the study, particularly that the first patient was expected to be dosed in the latter half of 2024. However, it was not disclosed that the interest in viral-based editing was declining sharply due to the scientific community focusing on non-viral delivery methods because they are more cost-effective and faster to develop, rendering NTLA-3001 an unfeasible project for Intellia.

On January 9, 2025, Intellia made a press announcement detailing its strategic goals and key milestones for 2025. The announcement included a decision to channel resources towards developing drug candidates NTLA-2002 and a new treatment known as nex-z, while discontinuing NTLA-3001's development, resulting in a 27% workforce reduction. The company projected to incur approximately $8 million in restructuring costs in the first quarter of 2025 and also revealed the retirement of its Chief Scientific Officer, Laura Sepp-Lorenzino, Ph.D.

Following this announcement, Intellia's stock price dropped by $1.82 per share, equating to a decline of 15.14%, with shares closing at $10.20 each on January 10, 2025.

The leading plaintiff in the lawsuit will be the investor who has the largest financial stake in the claims made by the class and is typical of other class members. Any member of the potential class can petition the Court to be appointed as lead plaintiff through their chosen legal counsel or may opt to remain an absent class member. Your capacity to benefit from any recovery will not change based on whether you choose to be a lead plaintiff.

Faruqi & Faruqi, LLP encourages anyone with information about Intellia Therapeutics' practices to reach out, including whistleblowers, former employees, shareholders, and other concerned parties.

For more about the Intellia Therapeutics class action, visit www.faruqilaw.com/NTLA or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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