For Q2, Intellia Therapeutics (NTLA +6.0%) reported cash, equivalents and marketable securities $436.8M vs. $284.5M as of December 31, 2019;
Collaboration revenue of $16.26M (+46.2% Y/Y) beats consensus by $6.74M; driven by $8.4M one-time cumulative catch-up adjustment related to the extension of the Regeneron collaboration.
Expanded Regeneron collaboration, receiving $100M through upfront cash and equity investment and agreeing to co-develop treatments for hemophilia A and B using CRISPR-mediated targeted transgene insertion technology.
Established research collaborations and license agreements with TeneoBio and GEMoaB GmbH to develop engineered cell therapies for immuno-oncology and autoimmune diseases
Net loss of $32.4M vs. $25.7M; GAAP EPS of -$0.61 beats consensus by $0.09.
“We are very pleased to announce our first regulatory submission to initiate a Phase 1 study of NTLA-2001, which is an important milestone as we deliver on our mission to develop curative, CRISPR/Cas9-based treatments for severe diseases,” president & CEO John Leonard, M.D. commented.
In June 2020, Intellia closed an underwritten public offering of 6.3M shares for gross proceeds of ~$115M.
Intellia indicates pipeline progression, ATTR: Plan to dose first patient by end of 2020; AML: Submit an IND or IND-equivalent for NTLA-5001 in 1H21; HAE: Submit an IND or IND-equivalent for NTLA-2002 in 2H21.
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