- Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares are up Thursday as its Q1 results surpassed estimates. The company looks forward to sharing new interim data from NTLA-2001 and NTLA-2002 first-in-human studies in the coming months.
- NTLA reported first-quarter FY23 collaboration revenue of $12.61 million, up 12% year over year, beating the analyst consensus of $11.83 million.
- The genome editing company reported a loss per share of $(1.17), beating the consensus of $(1.40).
- The company’s net loss was $(103.1) million in Q1, narrower than $(146.9) million a year ago.
- Cash equivalents held by the company as of quarter-end were $1.2 billion.
- “Today, we are pleased to announce dosing has begun in the Phase 2 study of NTLA-2002, and based on strong interest from investigators and patients, we expect to complete enrollment in the second half of this year,” Chief Executive Officer John Leonard said.
- The company’s “rapid progression” of the clinical development of NTLA-2002 aligns with the company’s goal to bring forth a potential functional cure for treating hereditary angioedema.
- Read More: Intellia’s Hereditary Angioedema Candidate Shows Reduction In Associated Biomarkers, Attack Rates
- Price Action: NTLA shares are trading higher by 13% at $43.62 on the last check Thursday.
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