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Intellia Therapeutics, Inc.

Securities Class Action

  • Date:
  • 4/14/2025
  • Company Name:
  • Intellia Therapeutics, Inc.
  • Stock Symbol:
  • NTLA
  • Class Period:
  • FROM 7/30/2024 TO 1/8/2025
  • Status:
  • Filed
  • Filing Date:
  • 2/11/2025
  • Court:
  • U.S. District Court: Massachusetts

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Intellia Therapeutics, Inc. (“Intellia” or the “Company”) (NASDAQ:NTLA) in the United States District Court for the District of Massachusetts on behalf of all persons and entities who purchased or otherwise acquired Intellia securities between July 30, 2024 and January 8, 2025, both dates inclusive (the “Class Period”). Investors have until April 14, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the complaint, defendants provided investors with material information concerning Intellia's Phase 1/2 study evaluating NTLA-3001 for the treatment of alpha-1 antitrypsin deficiency (AATD)-associated lung disease. Defendants’ statements included, among other things, confidence in the Company’s timeline for the aforementioned study, specifically that Intellia expected to dose the first patient in the second half of 2024. Defendants failed to disclose inter alia that the demand for viral-based editing was rapidly dwindling as non-viral delivery methods became a main target of the scientific research community due to their cost-effectiveness and more efficient development, thus making NTLA-3001 an inefficient program for Intellia to maintain.
 
The alleged truth emerged on January 9, 2025, when Intellia published a press release announcing Company reorganization. In pertinent part, defendants disclosed that Intellia would be halting all NTLA-3001 research and studies and that the Company would be reducing its workforce by 27% in 2025. Specifically, the Company announced that management decided to focus Intellia’s resources on other pharmaceutical development and would be implementing cost saving in the form of a major reduction in force. As a result, defendants pipeline priority readjustment resulted in the Company’s once-touted NTLA-3001’s discontinuation.
 
Following this news, Intellia’s stock price fell from a closing market price of $12.02 per share on January 8, 2025 to $10.20 per share on January 10, 2025.
 
If you purchased or otherwise acquired Intellia shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.
Contact Instructions
Please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com with any questions about this case.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Intellia Therapeutics. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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