NEW
YORK, March 3, 2025 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Intellia
Therapeutics, Inc. (NASDAQ: NTLA).
Shareholders who purchased shares of NTLA during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/intellia-therapeutics-inc-loss-submission-form/?id=132973&from=4
CLASS PERIOD: July 30, 2024
to January 8, 2025
ALLEGATIONS: According to the complaint, 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 aforementioned study, specifically that
Intellia expected to dose the first patient in the second half of
2024. 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 emerged on January 9, 2025, when Intellia published a press
release announcing Company reorganization. In pertinent part,
defendants disclosed that Intellia would be halting all NTLA-3001
research and studies and that the Company would be reducing its
workforce by 27% in 2025. Specifically, the Company announced that
management decided to focus Intellia's resources on other
pharmaceutical development and would be implementing cost saving in
the form of a major reduction in force. As a result, defendants
pipeline priority readjustment resulted in the Company's
once-touted NTLA-3001's discontinuation. Following this news,
Intellia's stock price fell from a closing market price of
$12.02 per share on January 8, 2025 to $10.20 per share on January 10, 2025.
DEADLINE: April 14, 2025
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/intellia-therapeutics-inc-loss-submission-form/?id=132973&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of NTLA during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is April 14, 2025. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
