Stock News Buzz: Intellia Therapeutics, Inc. (NASDAQ: NTLA)

On Wednesday, Intellia Therapeutics, Inc. (NASDAQ: NTLA) stock observed trading -21.21% off 52-week high price. On the other end, the stock has been noted 45.91% away from low price over the last 52-weeks. The stock disclosed a move of 17.85% away from 50 day moving average and -0.76% away from 200 day moving average. Moving closer, we can see that shares have been trading 17.68% off 20-day moving average. It has market cap of $744.46M.

Intellia Therapeutics, Inc. (NTLA) stated operational highlights and financial results for the third quarter ended September 30, 2019.

Third Quarter 2019 Financial Results

  • Cash Position:Cash, cash equivalents and marketable securities were $295.8M as of September 30, 2019, contrast to $314.1M as of December 31, 2018. The decrease was driven by cash used to fund operations of about $90.5M, which was offset in part by $54.1M of net equity proceeds raised from the Company’s “At the Market” (ATM) contract, $8.0M of funding received under the Novartis collaboration, $7.3M of ATTR cost reimbursements made by Regeneron, and $2.8M in proceeds from employee-based stock plans.
  • Alliance Revenue:Alliance revenue increased by about $3.2M to $10.6M during the third quarter of 2019, contrast to $7.4M during the third quarter of 2018. The increase in alliance revenue in 2019 was primarily driven by amounts recognized from the expansion of the existing alliance with Novartis, as well as by amounts recognized under the Company’s ATTR Co/Co contract with Regeneron. As before revealed, Regeneron funds about 50% of the development costs for the ATTR program.
  • R&D ExpensesResearch and development expenses increased by about $4.3M to $27.5M during the third quarter of 2019, contrast to $23.2M during the third quarter of 2018. This increase was driven primarily by the advancement of Intellia’s research programs, research personnel growth to support these programs, as well as the expansion of the development organization.
  • G&A Expenses:General and administrative expenses increased by about $0.2M to $8.4M during the third quarter of 2019, contrast to $8.3M during the third quarter of 2018. This increase was driven primarily by employee-related expenses to support Intellia’s growing research and development efforts.
  • Net Loss:The Company’s net loss was $23.6M for the third quarter of 2019, contrast to $22.7M during the third quarter of 2018.

Financial Guidance

Intellia expects that its cash, cash equivalents and marketable securities as of September 30, 2019, as well as technology access and funding from Novartis and Regeneron, will enable Intellia to fund its anticipated operating expenses and capital expenditure requirements into the second half of 2021. This expectation excludes any potential milestone payments or extension fees that could be earned and distributed under the alliance contracts with Novartis and Regeneron or any planned use of capital not presently in the Company’s base-case planning assumptions.

The USA based company Intellia Therapeutics, Inc. moved with change of -0.07% to $14.97 with the total traded volume of 927366 shares in recent session versus to an average volume of 538.75K. The stock was observed in the 5 days activity at 7.39%. The one-month performance of stock was 33.66%. NTLA’s shares are at -11.16% for the quarter and driving a -10.36% return over the course of the past year and is now at 9.67% since this point in 2018.  Right now, the stock beta is 2.68. The average volatility for the week and month was at 8.27% and 6.72% respectively. There are 49.73M shares outstanding and 39.12M shares are floated in market.

 

Leave a Reply

Your email address will not be published. Required fields are marked *