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LOS ANGELES, April 03, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Intellia Therapeutics, Inc. ("Intellia" or the "Company") (NASDAQ: NTLA) investors of a class action representing investors that bought securities between July 30, 2024 and January 8, 2025, inclusive (the "Class Period"). Intellia investors have until April 14, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Intellia is a genome editing company that focuses on the development of curative therapeutics. According to the complaint, on July 30, 2024, Intellia announced the authorization of its Clinical Trial Application by the United Kingdom’s Medicine and Healthcare products Regulatory Agency to initiate a Phase 1/2 study evaluating NTLA-3001 for the treatment of alpha-1 antitrypsin deficiency-associated lung disease.
The Intellia class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to the viability of NTLA-3001’s development and eventual marketing, if approved; (ii) Intellia’s optimistic reports of timelines, including dosing and future studies of the drug, fell short of reality; the NTLA program was not viable or sustainable for Intellia because viral-based editing programs remained expensive and inefficient in comparison to then-existing non-viral delivery methods; (iii) Intellia was not equipped to timely dose patients with NTLA-3001, maintain the drug’s research and development, or even to maintain its full staff in light of the existing scientific landscape surrounding viral-based editing drugs; and (iv) even if NTLA-3001 proved successful, the use of viral-based editing drugs is costly, inefficient, and poor mitigators of adverse effects in patients.
The Intellia class action lawsuit further alleges that on January 9, 2025, Intellia announced a company reorganization, disclosing that Intellia “made a difficult decision to focus our resources predominantly on NTLA-2002 and nex-z where we have the greatest opportunity to create significant, near-term value,” and “[p]ipeline priorities result in NTLA-3001 discontinuation and select, research-focused investment.” On this news, the price of Intellia stock fell more than 15%, according to the complaint.
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