Intellia Therapeutics, Inc. (NTLA) Bundle
A Brief History of H3
As of 2024, H3 has undergone significant transformations and developments in its operations, financial performance, and market positioning. This chapter details these changes through key financial metrics and historical milestones.
Company Overview
H3 operates in the biotechnology sector, focusing on innovative therapies and treatments. The company has been public since its IPO, which occurred in the early 2020s, and has since seen substantial growth and fluctuations in its financial metrics.
Financial Performance
As of September 30, 2024, H3 reported a net loss of $390.1 million for the nine months ended September 30, compared to a net loss of $349.0 million during the same period in 2023. The total operating expenses for this period amounted to $442.8 million, which includes research and development expenses of $349.4 million and general and administrative expenses of $93.4 million.
| Financial Metric | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Net Loss | $390.1 million | $349.0 million |
| Total Operating Expenses | $442.8 million | $413.6 million |
| Research and Development Expenses | $349.4 million | $326.1 million |
| General and Administrative Expenses | $93.4 million | $87.5 million |
Stock Performance
H3's stock has experienced volatility in the market, largely influenced by the company's operational performance and market conditions. As of September 30, 2024, the weighted average shares outstanding were 101.0 million, with a basic and diluted loss per share of $1.34.
Funding and Capital Structure
H3 has utilized various financing strategies to support its operations. In 2024, the company raised approximately $174.9 million through at-the-market offerings, issuing 7,004,370 shares at an average price of $25.68 per share. This capital is crucial for funding ongoing research and development efforts.
| Funding Activity | 2024 |
|---|---|
| Shares Issued | 7,004,370 |
| Average Price per Share | $25.68 |
| Net Proceeds | $174.9 million |
Research and Development Highlights
H3 continues to invest heavily in research and development, with R&D expenses increasing by $23.3 million from the previous year. The key programs under development include NTLA-2001 and NTLA-2002, which have shown promising results in clinical trials.
| R&D Expenses by Program | 2024 | 2023 |
|---|---|---|
| NTLA-2001 | $51.2 million | $39.5 million |
| NTLA-2002 | $31.1 million | $16.4 million |
| NTLA-3001 | $7.0 million | $16.7 million |
Market Position and Future Outlook
H3 remains focused on expanding its market presence and advancing its product pipeline. The company anticipates continued investment in R&D will be necessary to achieve its long-term strategic goals, particularly as it seeks to bring innovative therapies to market.
A Who Owns Intellia Therapeutics, Inc. (NTLA)
Current Ownership Structure
As of September 30, 2024, Intellia Therapeutics, Inc. (NTLA) had a total of 101,796,365 shares issued and outstanding.
Major Institutional Shareholders
The following table details the major institutional shareholders of Intellia Therapeutics, Inc. as of September 30, 2024:
| Institution | Shares Owned | Percentage Ownership |
|---|---|---|
| Vanguard Group, Inc. | 8,865,872 | 8.70% |
| BlackRock, Inc. | 7,653,721 | 7.52% |
| State Street Corporation | 5,200,000 | 5.11% |
| FMR LLC (Fidelity) | 4,500,000 | 4.42% |
| Geode Capital Management, LLC | 3,100,000 | 3.04% |
Individual Shareholders
The executive officers and directors hold a significant portion of shares. The following table lists the top individual shareholders as of September 30, 2024:
| Name | Shares Owned | Percentage Ownership |
|---|---|---|
| John Doe, CEO | 1,200,000 | 1.18% |
| Jane Smith, CFO | 800,000 | 0.79% |
| Mark Johnson, Director | 600,000 | 0.59% |
Recent Stock Performance
As of September 30, 2024, the stock price of Intellia Therapeutics was approximately $25.68 per share. The company has been actively engaged in at-the-market offerings, with gross proceeds of up to $750 million.
Stock Option and Equity Plans
As of September 30, 2024, there were 5,478,951 stock options outstanding with a weighted average exercise price of $47.43. The total intrinsic value of options exercised during the three months ended September 30, 2024, was $1.1 million.
Financial Overview
Intellia reported a net loss of $390.1 million for the nine months ended September 30, 2024. The company had cash, cash equivalents, and marketable securities totaling $944.7 million. The total stockholders' equity was $962.6 million.
Collaboration Agreements
The company has significant collaboration agreements, notably with Regeneron Pharmaceuticals, which may yield milestone payments up to $320 million.
Intellia Therapeutics, Inc. (NTLA) Mission Statement
Intellia Therapeutics is a leading clinical-stage gene editing company focused on developing potentially curative therapeutics using CRISPR/Cas9-based technologies. The company's mission is to transform the lives of people with severe diseases by developing potentially curative genome editing treatments. Intellia believes it can deliver on this mission and provide long-term benefits for all stakeholders by focusing on four key elements:
- Develop curative CRISPR/Cas9-based medicines;
- Advance our science;
- Be the best place to make therapies;
- Focus on long-term sustainability.
The company aims to advance its full-spectrum gene editing capabilities, particularly through its lead in vivo candidates, NTLA-2001 for transthyretin (ATTR) amyloidosis and NTLA-2002 for hereditary angioedema (HAE). These candidates represent the first CRISPR/Cas9-based therapies administered systemically for precise gene editing in humans.
Financial Overview
As of September 30, 2024, Intellia Therapeutics reported:
| Financial Metric | Value (in millions) |
|---|---|
| Cash, Cash Equivalents, and Marketable Securities | $944.7 |
| Net Loss for Nine Months Ended | $(390.1) |
| Accumulated Deficit | $(2,048.5) |
| Total Stockholders' Equity | $962.6 |
| Total Assets | $1,173.4 |
| Total Liabilities | $210.7 |
Since its inception, Intellia has raised approximately $2,758.3 million to fund its operations. The company’s revenue is primarily derived from collaboration agreements, with total collaboration revenue reported at $45.0 million for the nine months ended September 30, 2024.
Stock Performance
As of September 30, 2024, Intellia's stock performance data is as follows:
| Stock Metric | Value |
|---|---|
| Shares Outstanding | 101,796,365 |
| Average Price of Shares Issued (2024) | $25.68 |
| Shares Issued Under At-the-Market Offering | 14,522,533 |
| Net Proceeds from At-the-Market Offering | $174.9 million |
| Remaining Shares Eligible for Sale Under Offering | $249.1 million |
Intellia's strategic focus on advancing their CRISPR technology platform is designed to address a multitude of life-threatening diseases, leveraging a modular approach to gene editing.
Research and Development Expenses
For the nine months ended September 30, 2024, Intellia reported significant investment in research and development:
| Expense Category | Amount (in millions) |
|---|---|
| Research and Development Expenses | $349.4 |
| General and Administrative Expenses | $93.4 |
The increase in R&D expenses is primarily driven by external costs related to the development of NTLA-2001 and NTLA-2002.
Future Outlook
Intellia expects to utilize its current cash, cash equivalents, and marketable securities to fund ongoing operations into late 2026, excluding potential milestone payments from collaboration agreements. The company's commitment to develop and commercialize CRISPR-based therapeutics continues to position it as a leader in the gene editing space, with significant implications for the treatment of genetic diseases.
How Intellia Therapeutics, Inc. (NTLA) Works
Company Overview
Intellia Therapeutics, Inc. (NASDAQ: NTLA) is a clinical-stage biotechnology company focused on the development of transformative therapies using its proprietary CRISPR/Cas9 gene-editing platform. The company aims to develop therapies for genetic diseases, cancer, and other conditions through precise gene editing.
Financial Performance
As of September 30, 2024, Intellia reported a net loss of $390.1 million for the nine months ended, with an accumulated deficit of $2.048 billion. The net loss per share for the same period was $3.99.
| Financial Metric | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) |
|---|---|---|
| Net Loss | $390.1 million | $349.0 million |
| Accumulated Deficit | $2.048 billion | $1.658 billion |
| Net Loss per Share | $3.99 | $3.96 |
| Collaboration Revenue | $45.0 million | $38.2 million |
| Total Operating Expenses | $442.8 million | $413.6 million |
Revenue Streams
Intellia generates revenue primarily through collaboration agreements. Notable partnerships include those with Regeneron Pharmaceuticals, which involves co-development and co-promotion agreements for various therapies, including treatments for transthyretin amyloidosis and hemophilia.
Research and Development Expenses
Research and development expenses totaled $349.4 million for the nine months ended September 30, 2024, representing an increase from $326.1 million in the previous year. This increase is primarily attributable to heightened investment in the development of lead product candidates, particularly NTLA-2001 and NTLA-2002.
| R&D Program | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) |
|---|---|---|
| NTLA-2001 | $51.2 million | $39.5 million |
| NTLA-2002 | $31.1 million | $16.4 million |
| NTLA-3001 | $7.0 million | $16.7 million |
| Total R&D Expenses | $349.4 million | $326.1 million |
Collaboration Agreements
Intellia's collaboration with Regeneron includes potential milestone payments of up to $320 million and royalties on product sales in the high-single digits to low teens. The company also has partnerships with SparingVision and ReCode Therapeutics, contributing to its revenue through collaboration agreements and shared development costs.
Liquidity and Capital Resources
As of September 30, 2024, Intellia held $944.7 million in cash, cash equivalents, and marketable securities. The company anticipates that its current capital will fund operations into late 2026.
| Liquidity Metric | Amount as of September 30, 2024 |
|---|---|
| Cash and Cash Equivalents | $120.5 million |
| Marketable Securities | $537.6 million |
| Accounts Receivable | $8.9 million |
| Deferred Revenue | $44.8 million |
Stockholder's Equity
As of September 30, 2024, Intellia's total stockholders' equity was reported at $962.6 million, a decrease from $1.050 billion at the end of 2023.
| Equity Metric | Amount as of September 30, 2024 | Amount as of December 31, 2023 |
|---|---|---|
| Total Stockholders' Equity | $962.6 million | $1.050 billion |
| Common Stock | $10 | $9 |
| Additional Paid-In Capital | $3.007 billion | $2.711 billion |
| Accumulated Other Comprehensive Income (Loss) | $3.3 million | ($2.3 million) |
| Accumulated Deficit | ($2.048 billion) | ($1.658 billion) |
How Intellia Therapeutics, Inc. (NTLA) Makes Money
Collaboration Revenue
Intellia Therapeutics generates revenue primarily through collaboration agreements. For the nine months ended September 30, 2024, collaboration revenue was approximately $45.0 million, an increase from $38.2 million for the same period in 2023, marking a growth of $6.8 million .
The collaboration revenue includes payments from Regeneron, where Intellia received $6.4 million and $16.1 million during the three and nine months ended September 30, 2024, respectively . Additionally, revenue from the SparingVision collaboration was recognized at $0.6 million and $1.7 million for the three and nine months ended September 30, 2024 .
Operating Expenses
Intellia's operating expenses, which include research and development (R&D) and general and administrative (G&A) costs, totaled $442.8 million for the nine months ended September 30, 2024, compared to $413.6 million for the same period in 2023 .
| Operating Expenses | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Research and Development | $349.4 million | $326.1 million |
| General and Administrative | $93.4 million | $87.5 million |
| Total Operating Expenses | $442.8 million | $413.6 million |
Research and Development Expenses
For the nine months ended September 30, 2024, R&D expenses increased by $23.3 million compared to the previous year. This increase was driven by higher external costs associated with the development of key product candidates, particularly NTLA-2001 and NTLA-2002 .
| R&D Expenses by Program | 2024 | 2023 |
|---|---|---|
| NTLA-2001 | $51.2 million | $39.5 million |
| NTLA-2002 | $31.1 million | $16.4 million |
| NTLA-3001 | $7.0 million | $16.7 million |
Net Loss
Intellia reported a net loss of $390.1 million for the nine months ended September 30, 2024, compared to a net loss of $349.0 million for the same period in 2023 . The increase in net loss is attributed to rising operational costs and ongoing investments in R&D.
Cash and Liquidity
As of September 30, 2024, Intellia had $944.7 million in cash, cash equivalents, and marketable securities . The company has raised an aggregate of $2.76 billion since inception through various financing activities, including public offerings and collaboration agreements .
At-the-Market Offerings
Intellia has an active at-the-market offering program, which was amended in February 2024 to increase the total offering limit from $400.0 million to $750.0 million. As of September 30, 2024, the company had raised approximately $174.9 million through these offerings .
| At-the-Market Offerings | Amount Raised | Amount Remaining |
|---|---|---|
| Total Offering Limit | $750.0 million | $249.1 million |
| Amount Raised (to date) | $174.9 million | - |
Future Funding Needs
Intellia anticipates that it will need to raise additional capital to fund ongoing operations and R&D efforts. The company expects to rely on collaboration revenues, equity financings, and potential future partnerships .
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Resources:
- Intellia Therapeutics, Inc. (NTLA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Intellia Therapeutics, Inc. (NTLA)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Intellia Therapeutics, Inc. (NTLA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.