Intellia Therapeutics(NTLA) Prnewswire·2025-04-03 09:45Core Viewpoint - Intellia Therapeutics, Inc. is facing a class action lawsuit due to alleged misleading statements regarding its NTLA-3001 program for treating alpha-1 antitrypsin deficiency-associated lung disease, which has been discontinued following a company reorganization [2][3]. Summary by Relevant Sections Company Overview - Intellia Therapeutics, Inc. (NASDAQ: NTLA) is involved in developing treatments for genetic diseases, with a focus on viral-based editing technologies [2]. Allegations - The lawsuit claims that Intellia's management provided investors with optimistic timelines for the NTLA-3001 study, stating that the first patient would be dosed in the second half of 2024 [2]. - It is alleged that the company failed to disclose a significant decline in demand for viral-based editing methods, as non-viral delivery systems gained traction due to their cost-effectiveness and efficiency [2]. Company Actions - On January 9, 2025, Intellia announced a halt to all NTLA-3001 research and a workforce reduction of 27% in 2025, indicating a strategic shift in focus towards other pharmaceutical developments [2]. - Following this announcement, Intellia's stock price dropped from 10.20 per share on January 10, 2025 [2]. Class Action Details - Shareholders who purchased NTLA shares between July 30, 2024, and January 8, 2025, are encouraged to register for the class action lawsuit, with a deadline of April 14, 2025, to seek lead plaintiff status [3]. - Participants will be enrolled in a portfolio monitoring system to receive updates on the case [3]. Legal Representation - The Gross Law Firm is leading the class action, emphasizing its commitment to protecting investors' rights against deceitful practices [4].