NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of Intellia Therapeutics, Inc. ('Intellia' or the 'Company') (NASDAQ: NTLA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Intellia and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On August 4, 2022, Intellia issued a press release 'report[ing] operational highlights and financial results for the second quarter ended June 30, 2022.' Among other items, Intellia reported a net loss of $100.7 million, or $1.33 per diluted share, slightly worse than the consensus estimate for net loss of $1.31 per diluted share. Intellia also disclosed plans to focus exclusively on developing ex vivo (out of the body) allogeneic (commonly referred to as off-the-shelf) cell therapies. In connection with this shift in focus, Intellia advised that the Company was discontinuing a clinical study evaluating the experimental cell therapy NTLA-5001.

On this news, Intellia's stock price fell $6.27 per share, or 8.74%, to close at $65.43 per share on August 4, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

SOURCE: Pomerantz LLP