INTELLIA THERAPEUTICS Reports Positive Financial Results for Third Quarter of FY2023
November 25, 2023
☀️Earnings Overview
On November 9 2023, INTELLIA THERAPEUTICS ($NASDAQ:NTLA) announced their financial results for the third quarter of FY2023, which ended on September 30 2023. Total revenue for the quarter decreased by 9.6%, coming to a total of USD 12.0 million, compared to the same period in the prior year. Net income for the quarter was USD -122.2 million, a decrease from the prior year’s -113.2 million.
Stock Price
The stock opened at $28.5 and closed at $25.0, representing a 12.3% plunge from the previous closing price of 28.4. This is likely due to the company’s announcement that their revenue for the quarter was lower than expected. Despite this, INTELLIA THERAPEUTICS still managed to post positive financial results in the quarter.
Despite this, they remain confident that their continuing investments in R&D will position them for future growth. With their continued investments in research and development, they remain hopeful that they will be able to capitalize on future growth opportunities. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Intellia Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 51.77 | -462.44 | -882.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Intellia Therapeutics. More…
| Operations | Investing | Financing |
| -390.9 | -107.44 | 529.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Intellia Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.24k | 205.94 | 11.64 |
Key Ratios Snapshot
Some of the financial key ratios for Intellia Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -6.0% | – | -937.9% |
| FCF Margin | ROE | ROA |
| -786.8% | -28.3% | -24.4% |
Analysis
GoodWhale’s analysis of INTELLIA THERAPEUTICS‘s financials reveals that it is strong in asset, medium in growth and weak in dividend, profitability. We have classified the company as an ‘elephant’, meaning it is rich in assets after deducting off liabilities. We believe that this company would be of interest to investors who are looking for a long-term investment with potential for good returns. Furthermore, INTELLIA THERAPEUTICS has an intermediate health score of 4/10 considering its cashflows and debt. This suggests that the company may be able to sustain future operations in times of crisis. However, investors should bear in mind that dividend and profitability are weak and may affect returns significantly. More…
Peers
The company was founded in 2014 and is based in Cambridge, Massachusetts. Intellia has developed a platform that can be used to edit genes in a variety of cells and tissues. The company is also working on developing CRISPR-based treatments for diseases such as cancer and HIV. Intellia’s main competitors are CRISPR Therapeutics AG, Regeneron Pharmaceuticals Inc, and Editas Medicine Inc.
– CRISPR Therapeutics AG ($NASDAQ:CRSP)
Crispr Therapeutics AG is a biopharmaceutical company that focuses on the development of CRISPR/Cas9-based therapeutics for serious diseases. The company’s market cap as of 2022 is 4.28B and its ROE is -18.27%. Crispr Therapeutics AG was founded in 2013 and is headquartered in Zug, Switzerland.
– Regeneron Pharmaceuticals Inc ($NASDAQ:REGN)
Regeneron Pharmaceuticals Inc is a global biopharmaceutical company that discovers, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. The company’s products include EYLEA, Praluent, Dupixent, Libtayo, and Kevzara. As of 2021, the company had a market cap of $80.72 billion and a return on equity of 19.7%. Regeneron was founded in 1988 and is headquartered in Tarrytown, New York.
– Editas Medicine Inc ($NASDAQ:EDIT)
Editas Medicine Inc is a genome editing company based in Cambridge, Massachusetts. The company uses a technology called CRISPR to edit genes in order to treat genetic diseases. As of 2022, Editas Medicine Inc has a market cap of 886.02M and a Return on Equity of -23.75%. The company’s focus on genome editing makes it a leader in the field, and its market cap and ROE reflect this.
Summary
Investing in INTELLIA THERAPEUTICS may not look attractive to some investors at this time. Despite revenue for the third quarter of FY2023 decreasing by 9.6% compared to the same period last year, the company reported a net income of -122.2 million, which is significantly worse than the -113.2 million reported in the same period of the prior year. As a result, INTELLIA THERAPEUTICS’ stock price decreased on the day their financial results were released. Investors should be cautious when considering investing in this company and research further before making any decisions.
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