Intellia Therapeutics Slashes Workforce by 27% to Focus on Late-Stage CRISPR Candidates Amid Challenging Market Environment

Workforce Reduction:
Intellia Therapeutics is reducing its workforce by 27% to focus on late-stage CRISPR candidates, citing a challenging market environment12.

Strategic Focus: The company will concentrate on two late-stage drug candidates:
NTLA-2002 for hereditary angioedema and nexiguran ziclumeran (nex-z) for transthyretin (ATTR) amyloidosis12.

Financial Impact:
The layoffs and reorganization are expected to incur an $8 million charge in the first quarter of 202513.

Cash Position:
Intellia ended 2024 with $862 million in cash, which is expected to fund operations through the first half of 2027, including three ongoing Phase III clinical trials12.

Commercialization Plans:
The company aims to transition from a research-focused biotech to a commercial-stage company, with plans to launch its first commercial therapies in 202712.

Clinical Trials: NTLA-2002 is in the Phase III HAELO trial, and nex-z is in two Phase III studies:
MAGNITUDE for ATTR amyloidosis with cardiomyopathy and MAGNITUDE-2 for hereditary ATTR amyloidosis with polyneuropathy13.

Market Response:
Intellia's stock fell following the announcement of the strategic reorganization and workforce reduction23.

Sources:

1. https://www.pharmaceutical-technology.com/news/intellia-slashes-workforce-by-27-to-focus-on-late-stage-crispr-candidates/

2. https://www.bizjournals.com/boston/news/2025/01/10/intellia-2025-strategic-plan.html

3. https://www.investing.com/news/stock-market-news/intellia-therapeutics-stock-falls-following-strategic-reorganization-93CH-3806415