Health and Healthcare
What This Intellia and Regeneron Collaboration Means Going Forward
Published:
Intellia Therapeutics Inc. (NASDAQ: NTLA) has announced an expansion to its collaboration with Regeneron Pharmaceuticals Inc. (NASDAQ: REGN).
Intellia will provide Regeneron with rights to develop products for additional in vivo CRISPR/Cas9-based therapeutic targets, and the companies will jointly develop potential products for the treatment of hemophilia A and B. Regeneron also receives nonexclusive rights to independently develop and commercialize ex vivo gene-edited products.
Intellia will receive an upfront payment of $70 million, and Regeneron will make an additional equity investment in Intellia of $30 million at $32.42 per share.
Under the amended agreement, the term of the companies’ existing collaboration is extended until April 2024, with Regeneron having an option to renew for an additional two years. Regeneron will have rights to discover and develop CRISPR/Cas9-based therapeutic products for an additional five in vivo liver targets, for up to 15 targets.
George D. Yancopoulos, M.D., Ph.D., co-founder, president and chief scientific officer of Regeneron, commented:
The Regeneron team works hard to push the boundaries of science and technology, and we believe the precise in vivo gene insertion capabilities jointly developed with Intellia could be a promising therapeutic platform with significant potential in many diseases, including those that have been historically difficult to treat,” “We’re pleased to expand our work with Intellia, a like-minded group of scientists focused on maximizing the potential of CRISPR/Cas9 in order to help as many patients as possible.
Intellia Therapeutics stock closed Friday at $17.51, in a 52-week range of $9.18 to $21.63. The consensus price target is $26.17. Following the announcement, the stock was up about 14% at $20.00 in early trading indications Monday.
Regeneron Pharmaceuticals stock ended last week at $612.81. It has a 52-week range of $271.37 to $615.36, and the consensus price target is $531.50. The stock was down about 1% at $608.00 in Monday’s premarket.
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.