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Important Updates for Intellia Therapeutics Shareholders About Lawsuit and Lead Plaintiff Deadline

The Gross Law Firm Alerts Intellia Therapeutics Shareholders

The Gross Law Firm has officially issued a notification aimed at the shareholders of Intellia Therapeutics, Inc., traded on NASDAQ under the symbol NTLA. This announcement serves as a reminder that the deadline to apply for lead plaintiff status in the ongoing class action lawsuit is set for April 14, 2025.

Details on the Class Period and Potential Claims

Shareholders who acquired shares during the defined class period from July 30, 2024, to January 8, 2025, are particularly encouraged to get in touch with the law firm to explore the possibility of being appointed as lead plaintiffs. It’s important to note that while lead plaintiff status can enhance your standing in the case, it is not a prerequisite for participating in any potential recovery resulting from the lawsuit.

What Led to the Suit?

The lawsuit revolves around allegations concerning material misinformation related to Intellia's clinical trials for NTLA-3001, aimed at treating alpha-1 antitrypsin deficiency (AATD)-associated lung disease. The complaint states that Intellia's management exhibited a degree of overconfidence in their project timelines, allegedly indicating that dosing for the initial patient would begin in the latter half of 2024.

However, the complaint points out that critical details about a declining demand for viral-based editing technologies were left undisclosed, as research within the scientific community shifted towards non-viral delivery methods, known for their cost-effectiveness and efficiency. This lack of transparency misled investors about the viability of the NTLA-3001 program.

The Unfolding Events

The situation took a turn when, on January 9, 2025, Intellia issued a press release detailing a reorganization of the company, directly influencing its stock price. As part of this shift, it was revealed that all research and studies on NTLA-3001 would be halted, accompanied by a substantial workforce reduction of 27% in 2025.

Following this announcement, Intellia’s market price plummeted from $12.02 per share on January 8, 2025, to $10.20 per share just two days later, reflecting the market's reaction to the newly available information.

How to Register

For shareholders impacted by the events outlined, the Gross Law Firm urges you to act promptly and register your information for the class action lawsuit. By registering, you enable the law firm to keep you informed through a portfolio monitoring system concerning developments in your case. Shareholders have until April 14, 2025, to submit their applications for lead plaintiff status. There are no costs involved for participating in this case.

The Firm's Commitment

The Gross Law Firm is a recognized entity in the realm of class action law, standing firm on its commitment to ensure that investors are guarded against fraudulent practices. The firm aims to hold corporations accountable for their actions, seeking to provide recovery for investors who may have sustained losses due to misleading practices.