Intellia Therapuetics drops 5% following bottom line earnings miss, balloning R&D costs
May 05, 2022 10:26 AM ETIntellia Therapeutics, Inc. (NTLA)By: Jonathan Block, SA News Editor2 Comments
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- Intellia Therapeutics (NASDAQ:NTLA) saw its Q1 2022 net loss widen ~218% compared to the prior-year period due to a massive increase in R&D expenses.
- The genomic editing therapy company missed on the bottom line but beat on the top line.
- Revenue of ~$11.4M was a ~74% year-over-year increase.
- Intellia (NTLA) was significantly impacted in the quarter by a ~239% increase in R&D expenses to ~$133.1M compared to Q1 2021.
- Regarding the pipeline, the company said it will nominate one new in vivo candidate this year.
- Seeking Alpha's Quant Ratings gives Intellia (NTLA) a strong sell rating.