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Intellia (NTLA) to Report Q2 Earnings: What's in the Cards?
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We expect investors to focus on Intellia Therapeutics, Inc.’s (NTLA - Free Report) progress with the development of its portfolio of CRISPR-based gene-edited therapies when it reports second-quarter 2024 earnings.
Let’s see how things have shaped up for the quarter to be reported.
Factors to Note
Intellia’s top line currently comprises only collaboration revenues. Revenues in the last reported quarter increased year over year due to a $21 million non-cash revenue recognition adjustment related to the AvenCell collaboration. It remains to be seen if the company recorded an improvement in revenues this time around.
Intellia is collaborating with Regeneron Pharmaceuticals (REGN - Free Report) for the development of its investigational in vivo genome-editing candidate, NTLA-2001.
NTLA-2001 is part of the company’s co-development and co-promotion agreement with Regeneron. While NTLA is the lead party in the deal for NTLA-2001, REGN shares 25% of the development costs and commercial profits.
NTLA-2001 is being studied for two indications — ATTR amyloidosis with polyneuropathy (ATTRv-PN) patients and ATTR amyloidosis with cardiomyopathy (ATTR-CM) patients. The phase III MAGNITUDE study evaluating NTLA-2001 to treat ATTR amyloidosis with cardiomyopathy is currently ongoing.
If the data from the MAGNITUDE study is found to be positive, it will enable global regulatory filings for NTLA-2001. Investors will be keen to get more updates on the development path ahead for NTLA-2001 on the upcoming earnings call.
Updates for a pivotal phase III study on NTLA-2001 for treating ATTRv-PN are expected on the upcoming second-quarter earnings call.
Activities related to the development of pipeline candidates are most likely to have escalated Intellia’s operating expenses in the to-be-reported quarter.
Shares of Intellia have declined 13.3% so far this year compared with the industry’s decrease of 1.9%.
Image Source: Zacks Investment Research
Recent Developments
In June 2024, NTLA reported encouraging long-term data from the phase I portion of its early to mid-stage study evaluating another gene-editing candidate, NTLA-2002, for treating hereditary angioedema (HAE).
The company has completed enrollment in the phase II portion of its study. The company plans to begin a pivotal phase III study on NTLA-2002 in the HAE indication in the second half of 2024. We expect management to provide more updates on the upcoming earnings call.
Earnings Surprise History
Intellia has a mixed earnings surprise history. The company’s earnings beat estimates in three of the trailing four quarters and missed the same on the remaining occasion. NTLA delivered an average surprise of 6.33%. In the last reported quarter, Intellia’s earnings beat estimates by 21.48%.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Intellia this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Intellia has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at a loss of $1.21 per share.
Here are some stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Krystal Biotech, Inc. (KRYS - Free Report) has an Earnings ESP of +34.00% and a Zacks Rank #2.
Shares of Krystal Biotech have surged 69.9% in the year-to-date period. Earnings of Krystal Biotech beat estimates in two of the last four quarters and missed on the remaining two occasions. KRYS delivered an average negative earnings surprise of 21.46% in the last four quarters.
Amgen Inc. (AMGN - Free Report) has an Earnings ESP of +0.48% and a Zacks Rank #3.
Shares of Amgen have risen 16.1% year to date. Amgen beat earnings estimates in each of the trailing four quarters, with the average earnings surprise being 6.42%. AMGN is set to report second-quarter earnings on Aug 6.
Image: Bigstock
Intellia (NTLA) to Report Q2 Earnings: What's in the Cards?
We expect investors to focus on Intellia Therapeutics, Inc.’s (NTLA - Free Report) progress with the development of its portfolio of CRISPR-based gene-edited therapies when it reports second-quarter 2024 earnings.
Let’s see how things have shaped up for the quarter to be reported.
Factors to Note
Intellia’s top line currently comprises only collaboration revenues. Revenues in the last reported quarter increased year over year due to a $21 million non-cash revenue recognition adjustment related to the AvenCell collaboration. It remains to be seen if the company recorded an improvement in revenues this time around.
Intellia is collaborating with Regeneron Pharmaceuticals (REGN - Free Report) for the development of its investigational in vivo genome-editing candidate, NTLA-2001.
NTLA-2001 is part of the company’s co-development and co-promotion agreement with Regeneron. While NTLA is the lead party in the deal for NTLA-2001, REGN shares 25% of the development costs and commercial profits.
NTLA-2001 is being studied for two indications — ATTR amyloidosis with polyneuropathy (ATTRv-PN) patients and ATTR amyloidosis with cardiomyopathy (ATTR-CM) patients. The phase III MAGNITUDE study evaluating NTLA-2001 to treat ATTR amyloidosis with cardiomyopathy is currently ongoing.
If the data from the MAGNITUDE study is found to be positive, it will enable global regulatory filings for NTLA-2001. Investors will be keen to get more updates on the development path ahead for NTLA-2001 on the upcoming earnings call.
Updates for a pivotal phase III study on NTLA-2001 for treating ATTRv-PN are expected on the upcoming second-quarter earnings call.
Activities related to the development of pipeline candidates are most likely to have escalated Intellia’s operating expenses in the to-be-reported quarter.
Shares of Intellia have declined 13.3% so far this year compared with the industry’s decrease of 1.9%.
Image Source: Zacks Investment Research
Recent Developments
In June 2024, NTLA reported encouraging long-term data from the phase I portion of its early to mid-stage study evaluating another gene-editing candidate, NTLA-2002, for treating hereditary angioedema (HAE).
The company has completed enrollment in the phase II portion of its study. The company plans to begin a pivotal phase III study on NTLA-2002 in the HAE indication in the second half of 2024. We expect management to provide more updates on the upcoming earnings call.
Earnings Surprise History
Intellia has a mixed earnings surprise history. The company’s earnings beat estimates in three of the trailing four quarters and missed the same on the remaining occasion. NTLA delivered an average surprise of 6.33%. In the last reported quarter, Intellia’s earnings beat estimates by 21.48%.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Intellia this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Intellia has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at a loss of $1.21 per share.
Zacks Rank: Intellia currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Intellia Therapeutics, Inc. Price and EPS Surprise
Intellia Therapeutics, Inc. price-eps-surprise | Intellia Therapeutics, Inc. Quote
Stocks to Consider
Here are some stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Krystal Biotech, Inc. (KRYS - Free Report) has an Earnings ESP of +34.00% and a Zacks Rank #2.
Shares of Krystal Biotech have surged 69.9% in the year-to-date period. Earnings of Krystal Biotech beat estimates in two of the last four quarters and missed on the remaining two occasions. KRYS delivered an average negative earnings surprise of 21.46% in the last four quarters.
Amgen Inc. (AMGN - Free Report) has an Earnings ESP of +0.48% and a Zacks Rank #3.
Shares of Amgen have risen 16.1% year to date. Amgen beat earnings estimates in each of the trailing four quarters, with the average earnings surprise being 6.42%. AMGN is set to report second-quarter earnings on Aug 6.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.