Intellia Earnings: Novel Gene Editing Pipeline Advances; Shares Attractive for Long-Term Investors

Intellia Therapeutics’ relatively early-stage gene editing pipeline continued to make progress in the first quarter. We have raised our estimated probability of approval for NTLA-2001 for the treatment of transthyretin (ATTR) amyloidosis with cardiomyopathy and polyneuropathy to 40% from 30% as the company has quickly enrolled patients in its phase 3 trial for ATTR amyloidosis with cardiomyopathy, and it is tracking ahead of projections. We anticipate research and development costs as a percentage of sales will remain elevated over the next few years as Intellia focuses on developing its pipeline candidates.