Intellia Therapeutics, Inc. (NASDAQ:NTLA) reported a larger-than-expected loss for the third quarter of 2026, posting a deficit of 91 cents per share. This exceeded the Zacks Consensus Estimate, which anticipated a loss of 82 cents per share. However, this loss represents a slight improvement from the 92 cents per share loss recorded in the same quarter the previous year.
The company’s total revenue, which consists solely of collaboration revenues, amounted to $7.2 million. This figure fell short of the Zacks Consensus Estimate of $10 million and marked a 48% decrease from the previous year. The decline is attributed to reduced collaboration revenues from Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)1.
Following the financial results, Intellia’s stock experienced a nearly 10% drop, a reaction likely influenced by both the disappointing earnings report and a broader downturn in the U.S. market.
Despite these setbacks, Intellia’s stock has appreciated by 23.5% year-to-date, outpacing the biotech industry’s average growth of 13.1%2.
Detailed Q3 Financials
Intellia’s research and development (R&D) expenses decreased by 12% year-over-year, totaling $83.3 million. This reduction was primarily due to lower expenses related to its lead development program, lonvoguran ziclumeran (lonvo-z), and decreased stock-based compensation costs.
Conversely, general and administrative (G&A) expenses rose significantly by 51.2% year-over-year to $46.1 million. This increase was largely driven by the costs associated with building out the company’s commercial infrastructure, as well as higher legal and stock-based compensation expenses.
As of September 30, 2026, Intellia held cash, cash equivalents, and marketable securities valued at $614.8 million, down from $628.4 million as of June 30, 2026. The company anticipates that its existing cash reserves will sustain operations at least until 2028, well beyond the expected U.S. approval and commercial launch of lonvo-z for hereditary angioedema (HAE) in the first quarter of 20273.
In a strategic move to bolster its financial position, Intellia entered into a non-dilutive senior secured term loan facility with OrbiMed, securing up to $400 million. This agreement is expected to provide additional financial and operational flexibility as the company advances its late-stage pipeline and prepares for potential commercialization.
Regulatory Progress and Pipeline Updates
In September, Intellia’s biologics license application for lonvo-z in treating HAE was accepted by the FDA, which granted it priority review. A final decision is anticipated by March 10, 2027. If approved, lonvo-z would be the first in vivo CRISPR-based therapy and the only one-time treatment for HAE4.
Intellia is also progressing with the development of nexiguran ziclumeran (nex-z), another CRISPR-based gene-editing therapy, in collaboration with Regeneron. This therapy is targeted at transthyretin (ATTR) amyloidosis. The company recently completed enrollment for the phase III MAGNITUDE-2 study, which evaluates nex-z in patients with hereditary transthyretin amyloidosis with polyneuropathy (ATTRv-PN). The study’s primary endpoints are assessed at day 29 and month 18. Additionally, nex-z is under evaluation in the phase III MAGNITUDE study for transthyretin amyloidosis with cardiomyopathy (ATTR-CM), with patient enrollment ongoing.
Comparative Stock Performance
Intellia currently holds a Zacks Rank #4 (Sell). In contrast, TG Therapeutics, Inc. (NASDAQ:TGTX) is rated Zacks Rank #1 (Strong Buy) and Amneal Pharmaceuticals, Inc. (NYSE:AMRX) carries a Zacks Rank #2 (Buy). Over the past 30 days, TG Therapeutics’ earnings per share estimates have increased from 92 cents to 94 cents for 2026, and from $2.65 to $2.66 for 2027. TGTX shares have surged 94.5% year-to-date5.
Amneal Pharmaceuticals has also seen upward revisions in earnings estimates, with 2026 projections rising from $1.03 to $1.04 and 2027 estimates increasing from $1.16 to $1.19. AMRX shares have climbed 54.4% year-to-date. Amneal’s earnings have consistently exceeded estimates in the last four quarters, with an average surprise of 27.21%.
Footnotes:
- Intellia’s revenue decline is attributed to lower collaboration revenues from Regeneron Pharmaceuticals. Source.
- Intellia’s stock performance has outpaced the biotech industry’s average growth. Source.
- Intellia expects its cash reserves to fund operations beyond the anticipated approval of lonvo-z. Source.
- The FDA has granted priority review to Intellia’s biologics license application for lonvo-z. Source.
- TG Therapeutics’ shares have increased significantly year-to-date. Source.
Featured Image: Megapixl @ Motorolka
