Intellia Therapeutics announces net workforce reduction of 27% in 2025

Intellia Therapeutics (NTLA) announced a strategic reorganization focused on key value drivers. The pipeline prioritization is intended to focus resources on high value programs – NTLA-2002 and nex-z – to ensure efficient execution, achieve near-term clinical milestones, and prepare Intellia for commercial launch. As part of this prioritization, the company discontinued development of NTLA-3001 for the treatment of alpha-1 antitrypsin deficiency-associated lung disease and select research-stage programs. Over the course of 2025, the strategic reorganization will result in a net workforce reduction of approximately 27%. The company expects to incur charges of approximately $8M associated with the reorganization, which are anticipated to be incurred in the first quarter of 2025. Intellia ended the fourth quarter of 2024 with approximately $862M in cash, cash equivalents and investments. The combination of its cash balance and the anticipated cost savings are expected to provide the company with cash runway into the first half of 2027.