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Intellia issued a press release on January 9, 2025, “announc[ing] its strategic priorities and key anticipated 2025 milestones”. Among other items, Intellia announced that it plans to focus its resources on developing drug candidates NTLA-2002 and nex-z and will discontinue development of NTLA-3001, which will result in the Company cutting around 27% of its workforce. Intellia said that it expects to incur charges of approximately $8 million in the first quarter of 2025 in connection with the restructuring. Intellia further announced the retirement of its Chief Scientific Officer, Laura Sepp-Lorenzino, Ph.D.
Following this news, Intellia’s stock price fell over 15% on January 10, 2025.