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ATTR Amyloidosis: two biotech companies racing to a treatment

Cardiovascular & MetabolicConcentrated betData as of 2026-09-04

Competitors2in the clinic
Median market cap$5.7Buniverse median $1.20B
Allocated capital$2.0B$11.4B competing
Phase 3 or filed20 mid, 0 early
Pure plays0this indication only
Capital rank99/299crowding rank 83

ATTR Amyloidosis is a two-horse race: Ionis Pharmaceuticals (IONS, $9.7B) against Intellia Therapeutics (NTLA, $1.8B).

A duopoly prices differently from an empty field. Each company is the other's comparable, so a readout from either side repositions both, and $2.0B of allocated capital sits on the pair.

IONS alone accounts for 85% of the $11.4B of market capitalisation competing here, so this is a leader plus a tail rather than a level race.

$2.0B of allocated capital sits in ATTR Amyloidosis, ranking it 99th of 299 indications by the money committed to it.

Companies developing drugs for ATTR Amyloidosis 2

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
IONSIonis PharmaceuticalsEplontersenPhase 31$9.7BNo9 22 Sep 2026
NTLAIntellia TherapeuticsNTLA-2001Phase 31$1.8BNo2 31 Dec 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile. IONS holds 85% of the $11.4B competing in this indication.

Why ATTR Amyloidosis is a concentrated bet

Few competitors, each one large. The market pays a scarcity premium to compete here.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. ATTR Amyloidosis has 2 competitors and a median of $5.7B.

Cardiovascular & Metabolic

Cardiovascular & Metabolic holds $89.7B of the map's capital, 13.4% of the total, spread across 29 indications and 44 companies. 9 of those indications have more than one company competing.

See every Cardiovascular & Metabolic indication on the map

Related indications in Cardiovascular & Metabolic

Postbariatric Hypoglycemia1 company · $1.9B · median $3.8BUncontestedCardiovascular1 company · $1.8B · median $5.5BUncontestedCholestatic Liver Disease1 company · $2.2B · median $6.5BUncontestedHyperlipidemia1 company · $1.7B · median $12.2BUncontestedChronic Heart Failure With Reduced Ejection Fraction1 company · $2.3B · median $9.2BUncontestedHeart Failure with Decompensation1 company · $2.3B · median $9.2BUncontestedHypertriglyceridemia2 companies · $2.8B · median $10.9BConcentrated betAtherosclerotic Cardiovascular Disease Management1 company · $1.0B · median $3.1BUncontested

ATTR Amyloidosis pipeline questions

Which biotech companies are developing drugs for ATTR Amyloidosis?

Ionis Pharmaceuticals (IONS, Eplontersen, Phase 3); Intellia Therapeutics (NTLA, NTLA-2001, Phase 3). Those are the 2 US-listed developers in the $100M to $20B market cap band with a clinical-stage programme in ATTR Amyloidosis.

How advanced is the ATTR Amyloidosis pipeline?

Of the 2 clinical-stage programmes in ATTR Amyloidosis, 2 are in Phase 3 or filed, 0 are in mid-stage development and 0 are in early-stage development.

Which company leads the ATTR Amyloidosis field?

IONS is the largest developer in ATTR Amyloidosis, holding 85% of the $11.4B of market capitalisation competing in the indication. The median competitor is worth $5.7B.

When is the next ATTR Amyloidosis catalyst?

The next dated catalyst in ATTR Amyloidosis is IONS on 22 Sep 2026. 2 dated events across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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