Intellia Therapeutics Plunges 44% After Update On Magnitude Clinical Trials

(RTTNews) - Intellia Therapeutics, Inc. (NTLA) fell 43.79% to $14.39, down $11.21, after providing an update on its Magnitude Phase 1/2 clinical trials evaluating NTLA-3001 for alpha-1 antitrypsin deficiency or AATD. The company reported that while early-stage data demonstrated successful in vivo gene editing, efficacy signals were lower than expected, prompting a strategic reassessment of the program's next phase.

Intellia said it remains committed to advancing its CRISPR-based therapeutic pipeline but will "prioritize programs with stronger clinical validation and commercial potential." The company plans to provide further updates on development timelines and cost reductions in upcoming quarters.

On Friday, NTLA opened at $23.80, hit a high of $24.15 and a low of $13.91, compared to a previous close of $25.60 on the NasdaqGS. Trading volume soared well above average. The stock's 52-week range is $13.91 - $37.66.