Intellia Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Intellia Therapeutics filed its 2023 10-K, detailing R&D activities, financial structure, and key corporate events.</b>

AI Summary

Intellia Therapeutics, Inc. (NTLA) filed a Annual Report (10-K) with the SEC on February 22, 2024. Intellia Therapeutics, Inc. filed its 2023 Form 10-K on February 22, 2024, reporting on its fiscal year ending December 31, 2023. The filing details various business activities, including research and development expenses for 2021, 2022, and 2023. Key dates mentioned include a follow-on public offering on June 29, 2021, and an underwriting agreement on December 2, 2022. The company's financial structure includes common stock, additional paid-in capital, and retained earnings as of December 31, 2021. Intellia Therapeutics is involved in the development of in vitro & in vivo diagnostic substances, with its principal business address in Cambridge, MA.

Why It Matters

For investors and stakeholders tracking Intellia Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Intellia Therapeutics' financial performance and operational activities for the fiscal year 2023, crucial for investors assessing the company's progress in gene editing therapies. The detailed breakdown of R&D expenses and financial components like common stock and retained earnings offers insights into the company's investment in innovation and its financial health.

Risk Assessment

Risk Level: medium — Intellia Therapeutics, Inc. shows moderate risk based on this filing. The company operates in the highly competitive and regulated biotechnology sector, with significant R&D expenses and a history of public offerings, indicating substantial financial and market risks.

Analyst Insight

Investors should review the detailed R&D expenditures and financial statements in the 10-K to understand Intellia's progress and resource allocation in its gene editing programs.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-22 — Filing Date (Date of submission)
• 2021-01-01 to 2023-12-31 — R&D Expense Reporting Period (Covers multiple years of research and development costs)
• 2021-06-29 — Follow-On Public Offering Date (Key corporate finance event)
• 2022-12-02 — Underwriting Agreement Date (Related to a public offering)

Key Players & Entities

• Intellia Therapeutics, Inc. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-22 (date) — Filing date
• Cambridge, MA (location) — Business address
• Kyverna Therapeutics Inc. (company) — Mentioned in relation to specific dates
• Regeneron Pharmaceuticals (company) — Mentioned in relation to a technology collaboration extension
• Avencell (company) — Mentioned in relation to research materials and related party transactions
• Rewrite Therapeutics Delaware Corporation (company) — Mentioned in relation to an acquisition

FAQ

Risk Factors

• Risk Factors [high — financial]: The company faces significant financial risks related to its ongoing research and development activities, need for future financing, and potential for operating losses.
• Regulatory Environment [medium — regulatory]: The biotechnology industry is subject to extensive regulation, and changes in regulatory requirements could impact the company's ability to develop and commercialize its products.
• Market Competition [high — market]: Intellia operates in a highly competitive market with other companies developing gene-editing therapies, posing a risk to market share and product adoption.
• Operational Risks [medium — operational]: The company's success depends on its ability to successfully conduct complex research and development, manage manufacturing processes, and navigate intellectual property landscapes.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share NTLA The Nasdaq Global Ma
• $40.78 — e 30, 2023 (based on a closing price of $40.78 per share as quoted by the Nasdaq Globa

Filing Documents

• ntla-20231231.htm (10-K) — 3067KB
• ntla-ex3_1.htm (EX-3.1) — 76KB
• ntla-ex10_23.htm (EX-10.23) — 75KB
• ntla-ex21_1.htm (EX-21.1) — 5KB
• ntla-ex23_1.htm (EX-23.1) — 6KB
• ntla-ex31_1.htm (EX-31.1) — 12KB
• ntla-ex31_2.htm (EX-31.2) — 12KB
• ntla-ex32_1.htm (EX-32.1) — 9KB
• ntla-ex97_1.htm (EX-97.1) — 43KB
• img109078928_0.jpg (GRAPHIC) — 99KB
• img109078928_1.jpg (GRAPHIC) — 235KB
• 0000950170-24-018736.txt (&nbsp;) — 12838KB
• ntla-20231231.xsd (EX-101.SCH) — 1681KB
• ntla-20231231_htm.xml (XML) — 2006KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 41 Item 1B. Unresolved Staff Comments 88 Item 1C. Cybersecurity 88 Item 2.

Properties

Properties 89 Item 3.

Legal Proceedings

Legal Proceedings 89 Item 4. Mine Safety Disclosures 89 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 90 Item 6. [Reserved] 91 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 92 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 100 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 100 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 100 Item 9A.

Controls and Procedures

Controls and Procedures 101 Item 9B. Other Information 103 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 103 PART III Item 10. Directors, Executive Officers and Corporate Governance 104 Item 11.

Executive Compensation

Executive Compensation 104 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 104 Item 13. Certain Relationships and Related Transactions, and Director Independence 104 Item 14. Principal Accounting Fees and Services 104 PART IV Item 15. Exhibits, Financial Statement Schedules 105 Item 16. Form 10-K Summary 105

Signatures

Signatures 2 Forward-looking Information This Annual Report on Form 10-K contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by such forward-looking terminology as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. Our forward-looking statements are based on a series of expectations, assumptions, estimates and projections about our company, are not guarantees of future results or performance and involve substantial risks and uncertainty. We may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding: our ability to execute our clinical study strategy for NTLA-2001, our program for the treatment of transthyretin ("ATTR") amyloidosis, including the ability to successfully complete our global Phase 3 study, or the success of such program; our ability to execute our clinical study strategy for NTLA-2002, our program for the treatment of hereditary angioedema ("HAE"), including the ability to successfully complete our Phase 1/2 study and determine a recommended dose that can be advanced into later-stage studies, or the success of such program; our ability to initiate and complete our Phase 3 study for NTLA-2002 for HAE and file a biologics license application or comparable marketing application within a certain time period; our ability to

Business

Item 1. Business Overview We are a leading clinical-stage gene editing company, focused on developing potentially curative therapeutics using CRISPR/Cas9-based technologies. CRISPR/Cas9, an acronym for C lustered, R egularly I nterspaced S hort P alindromic R epeats ("CRISPR")/ C RISPR a ssociated 9 ("Cas9"), is a technology for genome editing, the process of altering selected sequences of genomic deoxyribonucleic acid ("DNA"). To fully realize the transformative potential of CRISPR/Cas9-based technologies, we are building a full-spectrum gene editing company, by leveraging our modular platform, to advance in vivo and ex vivo therapies for diseases with high unmet need by pursuing two primary approaches. For in vivo applications to address genetic diseases, we deploy CRISPR/Cas9 as the therapy. Our in vivo programs use CRISPR/Cas9 to enable precise editing of disease-causing genes directly inside the human body. In addition, we are advancing ex vivo applications to address immuno-oncology and autoimmune diseases, where we use CRISPR/Cas9 as the tool to create the engineered cell therapy. For our ex vivo programs, CRISPR/Cas9 is used to engineer human cells outside the body. Our deep scientific, technical and clinical development experience, along with our robust intellectual property ("IP") portfolio, have enabled us to unlock broad therapeutic applications of CRISPR/ Cas9 and related technologies to create new classes of genetic medicine. Treating—and potentially curing—a broad range of severe diseases will require multiple gene editing approaches. With proprietary CRISPR/Cas9-based technology at the core of our platform, we continue to add new capabilities to expand our current solutions for addressing a multitude of life-threatening diseases. These additions include our proprietary base editor and DNA writing technology, as well as novel CRISPR enzymes, which provide us with the capabilities to achieve multiple editing strategies. We continue to advance o

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View this 10-K filing on SEC EDGAR