A securities class action has been filed in the USDC – MA. against Intellia Therapeutics, Inc. (NTLA) (“Intellia” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Intellia securities between July 30, 2024, and January 8, 2025, both dates inclusive (the “Class Period”).

Intellia describes itself as a leading clinical-stage gene editing company, focused on developing potentially curative therapeutics using CRISPR/Cas9-based technologies. The Company advances its platform’s modular solutions and research efforts on genome editing technologies as well as delivery and cell engineering capabilities to generate additional development candidates.

The claim arises 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.

The Complaint alleges that Defendants failed to disclose, among other things, 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. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Intellia’s securities at artificially inflated prices.

As a result, from a closing market price of $12.02 per share on January 8, 2025, Intellia’s stock price fell to $10.20 per share on January 10, 2025 (which was the next trading session due to markets being closed on January 9, 2025 in observance of the passing of former President Jimmy Carter), a decline of about 15% in the span of just a single day.

If you purchased Intellia securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

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Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.