#USA #New York #Class Action #Gross Law Firm #Intellia Therapeutics

Gross Law Firm Notifies Intellia Therapeutics Shareholders

The Gross Law Firm has recently made an important announcement directed at shareholders of Intellia Therapeutics, Inc. (NASDAQ: NTLA). The firm is notifying investors who purchased shares during a specific period about an impending class action lawsuit and its subsequent deadlines.

Background of the Case

The class action application covers transactions made from July 30, 2024, to January 8, 2025. It is essential for shareholders within this timeframe to understand their rights and options moving forward. The litigation arises from allegations detailed in the complaint, asserting that Intellia's management misled investors regarding its Phase 1/2 study for NTLA-3001 aimed at treating alpha-1 antitrypsin deficiency (AATD)-associated lung disease.

Investors were reportedly given strong assurances about the expected timelines for this study, particularly regarding the scheduled dosing of the first patient in the latter half of 2024. However, the lawsuit claims that the defendants failed to disclose critical information about the rapidly decreasing demand for viral-based editing techniques, which effectively rendered the NTLA-3001 program less viable in light of emerging non-viral delivery methods that are seen as both more cost-effective and efficient.

Emergence of the Truth

Troubling revelations came to light on January 9, 2025, when Intellia disclosed a company reorganization plan. This included the shocking decision to halt all ongoing research related to NTLA-3001. The company also announced a reduction of its workforce by 27%, signifying a major shift in resource allocation towards other pharmaceutical advancements. This strategic pivot led the firm to prioritize different projects, ultimately putting the NTLA-3001 program on the shelf.

As a direct consequence of these announcements, Intellia's stock price demonstrated a significant decline, falling from $12.02 per share on January 8, 2025, to $10.20 by January 10, 2025. This sharp dip underscores the material impact the disclosures had on shareholder value, resulting in substantial losses for investors.

Next Steps for Shareholders

Shareholders are urged to register for this class action lawsuit promptly. The registration deadline to be considered for lead plaintiff status is set for April 14, 2025. It is crucial for affected investors to sign up, as doing so also enrolls them in a portfolio monitoring system that will provide continuous updates about the case’s progress.

Interested shareholders can easily register through the Gross Law Firm's dedicated webpage.

Support from the Gross Law Firm

The Gross Law Firm is nationally recognized for its commitment to protecting investors' rights against corporate malfeasance. The firm's efforts focus on holding companies accountable for deceptive practices that lead to financial harm for shareholders. This class action is a clear example of their mission to advocate for transparency and integrity in business practices.

If you are a shareholder of NTLA and believe you have been affected by these events, do not hesitate to reach out to The Gross Law Firm for more information. Remember, participation in this lawsuit comes at no cost and carries no obligation.

For any inquiries, you can contact The Gross Law Firm at:

• - Address: 15 West 38th Street, 12th Floor, New York, NY 10018
• - Email: [email protected]
• - Phone: (646) 453-8903

This alert serves as an essential reminder of the ongoing fight for shareholder rights and the importance of staying informed about your investments.

In conclusion, shareholders of Intellia therapeutics are encouraged to act promptly regarding the ongoing class action lawsuit and make their voices heard through participation.