SAN DIEGO, Feb. 13, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Intellia Therapeutics, Inc. (NASDAQ: NTLA) securities between June 30, 2024 and January 28, 2025. Intellia describes itself as a leading clinical-stage gene editing company, focused on developing potentially curative therapeutics using CRISPR/Cas9-based technologies.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Intellia Therapeutics, Inc. (NTLA) Misled Investors Regarding the Viability of its Drug Candidate
According to the complaint, during the class period, defendants provided investors with material information concerning Intellia’s Phase 1/2 study evaluating NTLA-3001 for the treatment of alpha-1 antitrypsin deficiency (AATD)-associated lung disease. Defendants’ statements included, among other things, confidence in the Company’s timeline for the study, specifically that Intellia expected to dose the first patient in the second half of 2024. The complaint alleges that defendants failed to disclose inter alia that the demand for viral-based editing was rapidly dwindling as non-viral delivery methods became a main target of the scientific research community due to their cost-effectiveness and more efficient development, thus making NTLA-3001 an inefficient program for Intellia to maintain.
The truth was revealed on January 9, 2025, when Intellia published a press release announcing Company reorganization and disclosing that Intellia would be halting all NTLA-3001 research and studies and that the Company would be reducing its workforce by 27% in 2025. On this news, the price of Intellia stock declined approximately 15%.
What Now: You may be eligible to participate in the class action against Intellia Therapeutics, Inc. Shareholders who want to serve as lead plaintiff for the class should contact Robbins LLP. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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