Intellia Therapeutics, Inc. (NTLA) Stock

Intellia Therapeutics, Inc. (NTLA) is a Healthcare stock trading at $11.74 (as of 2026-09-11), with a market capitalization of $1.65B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Intellia Therapeutics, Inc., a genome editing company, focuses on the development of therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency. Its ex vivo pipeline includes NTLA-5001 for the treatment of acute myeloid leukemia; and proprietary programs focused on developing engineered cell therapies to treat various oncological and autoimmune disorders. In addition, it offers tools comprising of Clustered, Regularly Interspaced Short Palindromic Repeats/CRISPR associated 9 (CRISPR/Cas9) system. Intellia Therapeutics, Inc. has license and collaboration agreements with Novartis Institutes for BioMedical Research, Inc. to engineer hematopoietic stem cells for the treatment of sickle cell disease; Regeneron Pharmaceuticals, Inc. to co-develop potential products for the treatment of hemophilia A and hemophilia B; Ospedale San Raffaele; and a strategic collaboration with SparingVision SAS to develop novel genomic medicines utilizing CRISPR/Cas9 technology for the treatment of ocular diseases. The company was formerly known as AZRN, Inc. Intellia Therapeutics, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts.

Understand Intellia Therapeutics, Inc.: how it makes money

Intellia develops CRISPR genome-editing drugs (in vivo liver-targeted and ex vivo cell therapies) for rare diseases like amyloidosis, hemophilia, and hereditary angioedema, funded today by research collaborations rather than product sales. The stock is essentially a portfolio of clinical binary events, with the pivotal Magnitude trial in TTR amyloidosis as the nearest catalyst.

No product revenue exists; every dollar of equity value is the probability-weighted outcome of a handful of pivotal trials, financed through collaboration milestones and shareholder capital, not through a recurring product cash-flow engine.

Business quality (Unprofitable): Pre-revenue clinical-stage biotech with an operating margin of 1 to 47 times negative revenue; no margin profile to evaluate until a product clears its pivotal gate. Cash burn is the defining financial feature, not profitability.

Bull case

Pivotal trial nearly complete: Nexi's pivotal Magnitude trial has enrolled more than 650 patients, meaning the closest binary catalyst (a TTR amyloidosis readout that could support a New Drug Application) is a matter of months, not years.
Durable efficacy signal intact: Nexi showed rapid, consistent and durable TTR lowering in Phase 1, confirming that the in vivo CRISPR edit to the TTR gene is stable over the follow-up period, which is the core scientific assumption the Magnitude trial must validate at scale.
One-time HAE differentiation: Strong Halo efficacy supports potential differentiation for a one-time HAE therapy, a setting where patients currently take chronic prophylaxis. If the HAE program in the pipeline advances, it adds a second commercial franchise beyond TTR.

Bear case

HLA-linked liver safety signal: A specific HLA allele was associated with significantly higher severe liver-enzyme elevations. If confirmed as a true pharmacogenomic risk, it could force a restricted-label population, add genotyping requirements, or in a worst case stall the HAE and hemophilia programs that share the same lipid-nanoparticle delivery vector.
No readout date given: Management has not provided timing for Magnitude results. Without a date, the stock cannot be anchored to a near-term catalyst, and any further enrollment or unblinding delay resets the optionality premium the market assigns to the pipeline.
Shrinking collaboration funding: Collaboration revenue declined year over year, primarily because of lower Regeneron revenue. With no product income and the only external funding stream eroding, cash burn (implied by an operating margin of -1,472%) will require further dilutive financing before the next major data readout.

Valuation — source: SEC EDGAR (first-party)
Price	$11.74
Market Cap	$1.65B
Price / Book	2.26
Price / Sales	27.65
FCF Yield	-21.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$67.67M
Net Margin	-609.9%
Return on Equity	-55.0%
Current Ratio	6.65
Revenue Growth (YoY)	-46.2%
EPS Growth (YoY)	-18.4%
FCF Growth (YoY)	-15.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	-0.48 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	19.4
Industry P/E (Pharmaceutical Products)	15.1

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	ARK Investment Management LLC ($285.54M)
Institutional Holders Tracked	10
Congressional Trades (recent)	8

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	John Leonard
Employees	403
Country	US
IPO Date	2016-05-06

Intellia Therapeutics, Inc. earnings call transcripts

NTLA Q2 FY26 earnings call transcript (reported 2026-08-06) · analysis
NTLA Q4 FY25 earnings call transcript (reported 2026-02-26) · analysis

All NTLA earnings calls

Related Companies (Pharmaceutical Products; 8 comparable drugmakers)

Data as of 2026-09-11.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.