Intellia Therapeutics ($NASDAQ:NTLA) announced their earnings results for Q2 of FY2023 (ending June 30 2023), on August 3 2023. Revenue for the quarter totaled USD 13.6 million, a decrease of 3.1% from the same period in the preceding year. Net income for the quarter was USD -123.7 million, a decrease from the -100.7 million reported in the same quarter of the prior year.
The stock opened at $38.3 and closed at $39.1, resulting in a decrease of 1.6% from the previous closing price of $39.7. In addition to the financial results, INTELLIA THERAPEUTICS also released a brief outlook for the rest of FY2023. The company expects to continue to invest in research and development, with an emphasis on developing treatments for rare diseases and advancing their gene editing platform.
They also plan to continue to expand their partnerships with pharmaceutical companies, universities, and other organizations in order to leverage their expertise and resources. With these initiatives in place, INTELLIA THERAPEUTICS is confident that they will be able to achieve their long-term objectives and create value for shareholders. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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GoodWhale is the ideal platform for analyzing INTELLIA THERAPEUTICS‘s financials and risk factors. After a deep dive into the company’s financials, GoodWhale has determined that INTELLIA THERAPEUTICS is a high risk investment in terms of financial and business aspects. We have identified 3 risk warnings in the balance sheet, cashflow statement, and non-financial areas. If you become a registered user of GoodWhale, you can take a closer look at these risk warnings and make an informed decision when it comes to investing in INTELLIA THERAPEUTICS. More…
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The company was founded in 2014 and is based in Cambridge, Massachusetts. Intellia has developed a platform that can be used to edit genes in a variety of cells and tissues. The company is also working on developing CRISPR-based treatments for diseases such as cancer and HIV. Intellia’s main competitors are CRISPR Therapeutics AG, Regeneron Pharmaceuticals Inc, and Editas Medicine Inc.
– CRISPR Therapeutics AG ($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 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.
INTELLIA THERAPEUTICS reported its Q2 FY2023 earnings on August 3 2023. Total revenue for the quarter was USD 13.6 million, a 3.1% decrease from the same quarter in the previous year. Net income for the period was USD -123.7 million, a decrease from the -100.7 million loss reported in the same quarter of the prior year. Investors should take these results into account when evaluating INTELLIA THERAPEUTICS as a potential investment.
Although total revenue decreased, it was still slightly above expectations. Ultimately, investors should use these results to inform their decision-making and conduct further research when considering INTELLIA THERAPEUTICS as a potential investment.