Intellia Therapeutics Announces Third Quarter 2026 Financial Results and Business Updates
Cash runway guidance excludes potential lonvo-z revenue and future loan funding, while quarterly net loss widened year over year.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Intellia Therapeutics (Nasdaq: NTLA) reported third-quarter financial results as it prepares for a potential first-quarter 2027 launch of lonvo-z. The FDA accepted the hereditary angioedema treatment application for Priority Review, with a March 10, 2027 target decision date. Intellia completed deployment of its field organization; approval remains pending.
Enrollment finished in the MAGNITUDE-2 Phase 3 trial, exceeding the targeted randomization of 60 patients, while enrollment advanced in MAGNITUDE. Quarterly collaboration revenue fell to $7.163 million from $13.782 million, and net loss widened to $127.485 million from $101.324 million. Cash, equivalents and marketable securities totaled $614.807 million at September 30. Intellia expects existing resources to fund operations at least into 2028, excluding potential lonvo-z revenue and future loan funding. A senior secured term loan facility provides up to $400 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major pointOrbiMed term loan facility provides access to up to $400 million in non-dilutive financing. 23% of market cap
- Moderate pointLonvo-z application accepted for FDA Priority Review, with a March 10, 2027 target decision date.
- Moderate pointMAGNITUDE-2 Phase 3 enrollment completed, exceeding the targeted randomization of 60 patients.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Existing cash resources expected to fund operations at least into 2028, excluding potential revenue and future loan funding.
- Moderate pointQuarterly research and development expenses declined to $83.346 million from $94.747 million a year earlier.
7 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.Lonvo-z field organization deployment completed; Intellia plans a first-quarter 2027 commercial launch.
- Minor pointNex-z MAGNITUDE Phase 3 enrollment advanced in ATTR amyloidosis with cardiomyopathy.
- Minor pointCash, equivalents and marketable securities rose to $614.807 million from $605.134 million at December 31, 2025.
- Minor pointNine-month research and development expenses declined to $246.678 million from $300.209 million a year earlier.
- Minor pointNine-month operating loss narrowed to $335.617 million from $342.280 million a year earlier.
- Minor pointQuarterly loss per share narrowed to $0.91 from $0.92; nine-month loss narrowed to $2.53 from $2.99.
- Minor pointTotal assets increased to $902.560 million from $842.127 million at December 31, 2025.
Negative
- Moderate pointQuarterly collaboration revenue fell to $7.163 million from $13.782 million, primarily reflecting lower Regeneron revenue.
- Moderate pointQuarterly net loss widened to $127.485 million from $101.324 million a year earlier.
- Moderate pointTotal liabilities increased to $289.471 million from $170.733 million at December 31, 2025.
- Minor point. Forward-looking: it has not happened yet and may not happen.Lonvo-z commercial launch remains dependent on FDA approval, with a March 10, 2027 target decision date.
- Minor pointQuarterly general and administrative expenses increased to $46.142 million from $30.512 million a year earlier.
11 minor points
- Minor pointQuarterly operating loss widened to $122.325 million from $111.477 million a year earlier.
- Minor pointQuarterly investment fair-value changes produced a $10.386 million loss, versus a $3.439 million gain a year earlier.
- Minor pointQuarterly interest income and other, net fell to $5.837 million from $6.714 million a year earlier.
- Minor pointOrbiMed financing is a senior secured term loan facility, rather than equity funding.
- Minor pointInterest expense totaled $0.611 million in the quarter and nine months, versus none in comparable 2025 periods.
- Minor pointNine-month collaboration revenue fell to $29.870 million from $44.654 million a year earlier.
- Minor pointNine-month net loss widened to $330.350 million from $316.908 million a year earlier.
- Minor pointNine-month general and administrative expenses increased to $118.809 million from $86.725 million a year earlier.
- Minor pointNine-month investment fair-value changes produced a $10.961 million loss, versus a $2.653 million gain a year earlier.
- Minor pointNine-month interest income and other, net fell to $16.839 million from $22.719 million a year earlier.
- Minor pointStockholders' equity declined to $613.089 million from $671.394 million at December 31, 2025.
News Explained
Intellia’s third-quarter 2026 results report weighted-average shares outstanding of 140,186 thousand, compared with 110,188 thousand in the third quarter of 2025; the comparison shows a higher period-average share count, an ownership-relevant change.
Key Figures
- Cash, cash equivalents and marketable securities
- $614.8 million
- As of September 30, 2026
- Cash runway
- At least into 2028
- Company expects existing resources to fund operations; excludes potential lonvo-z revenue and future term-loan funding
- Senior secured term loan facility
- Up to $400 million
- Facility with OrbiMed; announced as non-dilutive
- MAGNITUDE-2 enrollment target
- 60 patients
- Phase 3 ATTRv-PN trial enrollment completed, exceeding targeted randomization
- PDUFA target action date
- March 10, 2027
- Lonvo-z BLA received Priority Review
- Collaboration revenue
- $7.2 million
- Q3 2026, compared with $13.8 million in Q3 2025
- Net loss
- $127.5 million
- Q3 2026, compared with $101.3 million in Q3 2025
- General and administrative expenses
- $46.1 million
- Q3 2026, compared with $30.5 million in Q3 2025
Previous Earnings Reports
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Phase 3 HAELO reported 87% fewer attacks versus placebo and no serious adverse events.
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HAELO met endpoints, while FDA lifted clinical holds on Phase 3 nex-z trials.
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FDA clinical holds on MAGNITUDE trials followed reported liver transaminase elevations.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
pdufa regulatory
biologics license application (bla) regulatory
human leukocyte antigen (hla) medical
crispr gene editing technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
- On track to complete lonvo-z commercial readiness efforts in advance of March 10, 2027 PDUFA date
- New lonvo-z patient perspectives and Phase 1/2 durability data to be included in investor webcast and multiple presentations next week at ACAAI 2026
- Completed enrollment in MAGNITUDE-2 Phase 3 clinical trial in ATTRv-PN; advanced enrollment in MAGNITUDE in ATTR-CM
- Existing cash resources expected to fund operations at least into 2028 and well beyond lonvo-z’s anticipated commercial launch, with recent term loan facility providing additional financial flexibility
CAMBRIDGE, Mass., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Intellia Therapeutics, Inc. (Nasdaq: NTLA), a leading biopharmaceutical company focused on revolutionizing medicine leveraging CRISPR gene editing and other core technologies, today reported business updates and financial results for the third quarter ended September 30, 2026.
“This is a defining period for Intellia as we advance our late-stage pipeline and prepare for a transformative year ahead,” said John Leonard, M.D., Intellia President and Chief Executive Officer. “We have assembled the teams and capabilities needed to support a successful launch in HAE while also continuing to advance nex-z’s Phase 3 clinical trials and our pipeline expansion efforts. Looking to 2027, we are working toward a historic milestone: the potential approval of lonvo-z as the world’s first in vivo CRISPR-based therapy. As a one-time treatment, we believe it could transform the HAE treatment paradigm while also delivering significant value to patients, physicians, payers and the overall healthcare system.”
Lonvoguran Ziclumeran (Lonvo-z) for Hereditary Angioedema (HAE)
Designed as a one-time treatment that is administered in an outpatient setting, lonvo-z is an in vivo CRISPR gene editing candidate that is intended to inactivate the kallikrein B1 (KLKB1) gene to permanently lower kallikrein and bradykinin levels and to eliminate HAE attacks and the need for lifelong treatment.
- In September, the U.S. Food and Drug Administration (FDA) accepted the Biologics License Application (BLA) for lonvo-z and granted the BLA Priority Review with a Prescription Drug User Fee Act (PDUFA) target action date of March 10, 2027. Additionally, FDA advised that it is not currently planning to hold an advisory committee to discuss the application. If approved, lonvo-z would be the world’s first in vivo CRISPR-based therapy and the only one-time treatment for HAE.
- Intellia significantly advanced its launch readiness in recent months, completing the deployment of its field organization and deepening its engagement with HAE treatment centers and payers in preparation for a planned commercial launch in the first quarter of 2027.
Nexiguran Ziclumeran (Nex-z) for Transthyretin (ATTR) Amyloidosis
Nex-z is an in vivo CRISPR-based therapeutic candidate designed to inactivate the TTR gene in the liver, thereby preventing the production of transthyretin (TTR) protein. Nex-z offers the possibility of halting and reversing disease by driving a rapid, deep, consistent and potentially lifelong reduction in TTR protein after a one-time treatment. Intellia leads the development and commercialization of nex-z in collaboration with Regeneron Pharmaceuticals, Inc. (Regeneron).
- Intellia has made significant progress advancing enrollment in its MAGNITUDE Phase 3 clinical trial in ATTR amyloidosis with cardiomyopathy (ATTR-CM).
- During the third quarter, the company completed enrollment in its MAGNITUDE-2 Phase 3 clinical trial in hereditary ATTR amyloidosis with polyneuropathy (ATTRv-PN), exceeding its targeted randomization of 60 patients.
- During the third quarter, Intellia began providing investigators with human leukocyte antigen (HLA) genotyping results for patients enrolled or entering screening in the ongoing nex-z Phase 3 trials.
Other Recent Updates
- In September, Intellia entered into a non-dilutive senior secured term loan facility with OrbiMed, a leading global healthcare investment firm, for up to
$400 million . The transaction provides Intellia with greater financial and operational flexibility as it advances toward several key milestones, including the planned U.S. approval and commercial launch of lonvo-z in HAE. - In October, the company announced the appointment of Jing L. Marantz, M.D., Ph.D., as Executive Vice President and Chief Medical Officer. Dr. Marantz is an accomplished drug development leader with more than 25 years of experience in the biopharmaceutical industry that includes the successful advancement of several now-approved rare disease therapies. In this role, she is leading the company’s translational, development, regulatory and medical affairs functions.
Upcoming Events
The company will participate in the following upcoming events:
- November 6-9 – American Heart Association Scientific Sessions in Chicago, IL
- November 12 – Intellia investor webcast regarding lonvo-z in HAE
- November 12-16 – American College of Allergy, Asthma & Immunology 2026 Annual Scientific Meeting in Phoenix, AZ
- November 15-18 – International Symposium on Amyloidosis in Montevideo, Uruguay
- November 17 – Jefferies London Healthcare Conference in London, England
- December 7-9 – 23rd Global Cardiovascular Clinical Trialists Forum in Washington, D.C.
Third Quarter 2026 Financial Results
- Cash Position: Cash, cash equivalents and marketable securities were
$614.8 million as of September 30, 2026, compared to$605.1 million as of December 31, 2025. The company’s existing cash resources are expected to fund its operations at least into 2028 and well beyond lonvo-z’s anticipated U.S. approval and commercial launch in HAE in the first quarter of 2027. This guidance excludes all potential commercial revenues from lonvo-z and potential future funding from the company’s term loan facility. - Collaboration Revenue: Collaboration revenue was
$7.2 million for the third quarter of 2026, compared to$13.8 million for the third quarter of 2025. The decrease is primarily due to a reduction in revenue from Regeneron.- R&D Expenses: Research and development (R&D) expenses were
$83.3 million for the third quarter of 2026, compared to$94.7 million for the third quarter of 2025. The decrease was primarily driven by lower external costs related to lonvo-z, lower stock-based compensation and lower research materials and contracted services costs, partially offset by higher headcount-related expenses. Stock-based compensation expense included in R&D expenses was$7.4 million for the third quarter of 2026.
- R&D Expenses: Research and development (R&D) expenses were
- G&A Expenses: General and administrative (G&A) expenses were
$46.1 million for the third quarter of 2026, compared to$30.5 million for the third quarter of 2025. The increase was primarily driven by consulting costs associated with the continued buildout of the company’s commercial infrastructure and higher legal, facility-related and compensation expenses. Stock-based compensation expense included in G&A expenses was$7.0 million for the third quarter of 2026. - Net Loss: Net loss was
$127.5 million for the third quarter of 2026, compared to$101.3 million for the third quarter of 2025. Net loss for the third quarters of 2026 and 2025 included an unrealized loss of$10.4 million and an unrealized gain of$3.4 million , respectively, due to changes in the fair value of investments.
About Intellia Therapeutics
Intellia Therapeutics, Inc. (Nasdaq: NTLA) is a leading biopharmaceutical company focused on revolutionizing medicine leveraging CRISPR gene editing and other core technologies. The company’s mission is to transform the lives of people with severe diseases by developing and commercializing potentially curative treatments. With deep scientific, technical and clinical development experience, Intellia aims to reset the standard for medicine by durably treating the root causes of disease. Learn more at intelliatx.com and follow us @intelliatx.
Forward-Looking Statements
This press release contains “forward-looking statements” of Intellia Therapeutics, Inc. (“Intellia” or the “company”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding Intellia’s beliefs and expectations concerning: the success and advancement of its clinical programs for lonvoguran ziclumeran or “lonvo-z” (previously referred to as NTLA-2002) for the treatment of hereditary angioedema (“HAE”) and nexiguran ziclumeran or “nex-z” (previously referred to as NTLA-2001) for transthyretin (“ATTR”) amyloidosis, including its expectations regarding the review and potential approval by the U.S. Food and Drug Administration its biologics license application (“BLA”) for lonvo-z, its expectations regarding the planned U.S. launch of lonvo-z in the first quarter of 2027, including its ability to complete lonvo-z commercial readiness efforts in advance of the Prescription Drug User Fee Act date of March 10, 2027, and its belief that lonvo-z could transform the HAE treatment paradigm while also delivering significant value to patients, physicians, payers and the overall healthcare system; the potential of lonvo-z to inactivate the KLKB1 gene to permanently lower kallikrein and bradykinin levels and to eliminate HAE attacks and the need for lifelong treatment; the potential of nex-z to inactivate the TTR gene and to halt and reverse disease by driving a rapid, deep, consistent and potentially lifelong reduction in TTR protein after a one-time treatment and to deliver clinically meaningful outcomes for patients; its ability to optimize the impact of its collaborations on its development programs, including, but not limited to, its collaboration with Regeneron Pharmaceuticals, Inc. (“Regeneron”) and their co-development program for ATTR amyloidosis; and its growth as a company and expectations regarding its uses of capital, expenses, future accumulated deficit and financial results, including its expectations regarding its non-dilutive senior secured term loan facility with OrbiMed providing greater financial and operational flexibility and its ability to fund operations at least into 2028 and well beyond lonvo-z’s anticipated U.S. approval and commercial launch in HAE in the first quarter of 2027.
Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties related to the conduct of clinical studies and other development and commercialization requirements for its product candidates, including lonvo-z and nex-z, including risks related to the ability to develop and successfully commercialize lonvo-z, nex-z or any of Intellia’s product candidates; risks related to Intellia’s ability to protect and maintain its intellectual property position; risks related to Intellia’s relationship with third parties, including its contract manufacturers, collaborators, licensors and licensees; risks related to the ability of its licensors to protect and maintain their intellectual property position; uncertainties related to the authorization, initiation and conduct of preclinical and clinical studies and other development requirements for its product candidates, including uncertainties related to regulatory approvals to conduct clinical trials; risks related to the results of nonclinical studies or clinical studies not being predictive of future results in connection with future studies; the risk that clinical study results will not be positive; risks related to the potential delay of planned clinical trials due to regulatory feedback or other developments; and risks related to Intellia’s collaborations with Regeneron, or its other collaborations not continuing or not being successful. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Intellia’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Intellia’s most recent annual report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in Intellia’s other filings with the Securities and Exchange Commission, including its recent quarterly report on Form 10-Q. All information in this press release is as of the date of the release, and Intellia undertakes no duty to update this information unless required by law.
| INTELLIA THERAPEUTICS, INC. | |||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |||||||||||||||
| (Amounts in thousands, except per share data) | |||||||||||||||
| Three Months ended September 30, | Nine Months ended September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Collaboration revenue | $ | 7,163 | $ | 13,782 | $ | 29,870 | $ | 44,654 | |||||||
| Operating expenses: | |||||||||||||||
| Research and development | 83,346 | 94,747 | 246,678 | 300,209 | |||||||||||
| General and administrative | 46,142 | 30,512 | 118,809 | 86,725 | |||||||||||
| Total operating expenses | 129,488 | 125,259 | 365,487 | 386,934 | |||||||||||
| Operating loss | (122,325 | ) | (111,477 | ) | (335,617 | ) | (342,280 | ) | |||||||
| Other (expense) income, net: | |||||||||||||||
| Interest income and other, net | 5,837 | 6,714 | 16,839 | 22,719 | |||||||||||
| Interest expense | (611 | ) | - | (611 | ) | - | |||||||||
| Change in fair value of investments, net | (10,386 | ) | 3,439 | (10,961 | ) | 2,653 | |||||||||
| Total other (expense) income, net | (5,160 | ) | 10,153 | 5,267 | 25,372 | ||||||||||
| Net loss | $ | (127,485 | ) | $ | (101,324 | ) | $ | (330,350 | ) | $ | (316,908 | ) | |||
| Net loss per share, basic and diluted | $ | (0.91 | ) | $ | (0.92 | ) | $ | (2.53 | ) | $ | (2.99 | ) | |||
| Weighted average shares outstanding, basic and diluted | 140,186 | 110,188 | 130,802 | 105,841 | |||||||||||
| INTELLIA THERAPEUTICS, INC. | |||||||
| CONSOLIDATED BALANCE SHEET DATA (UNAUDITED) | |||||||
| (Amounts in thousands) | |||||||
| September 30, 2026 | December 31, 2025 | ||||||
| Cash, cash equivalents and marketable securities | $ | 614,807 | $ | 605,134 | |||
| Total assets | 902,560 | 842,127 | |||||
| Total liabilities | 289,471 | 170,733 | |||||
| Total stockholders' equity | 613,089 | 671,394 | |||||
Investor Contact:
Jason Fredette
Vice President, Investor Relations and Corporate Communications
Intellia Therapeutics, Inc.
jason.fredette@intelliatx.com
Media Contact:
Mike Tattory
Vice President
LifeSci Communications
mtattory@lifescicomms.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When is the FDA decision expected for Intellia's lonvo-z?
The FDA set a March 10, 2027 target action date for lonvo-z after accepting its application for Priority Review. Intellia plans a first-quarter 2027 commercial launch, subject to approval.
How long does Intellia expect its cash resources to last?
Intellia expects existing cash resources to fund operations at least into 2028. That guidance excludes potential lonvo-z commercial revenue and potential future funding from its term loan facility.
Does the FDA plan an advisory committee meeting for Intellia's lonvo-z application?
The FDA is not currently planning an advisory committee meeting to discuss the lonvo-z application.
What additional patient information is Intellia providing in the nex-z Phase 3 trials?
Intellia began providing investigators with human leukocyte antigen (HLA) genotyping results during the third quarter. These genetic test results concern patients enrolled or entering screening in the ongoing nex-z Phase 3 trials.