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Intellia Therapeutics is developing treatments that edit genes inside the body using CRISPR technology. Its lead candidates are lonvo-z for hereditary angioedema and nex-z for transthyretin amyloidosis, both in late-stage clinical development and designed for a single outpatient intravenous infusion. It has no approved products and has never earned revenue from drug sales.
Its collaborators pay for access to its technology and research work, and for reaching agreed development milestones. Regeneron reimburses some development costs and shares in the potential commercial profits of the nex-z program, which Intellia leads. Separate Regeneron licensing arrangements can also generate milestone payments and royalties on future sales. Intellia relies on collaboration funding and equity financing to support development before substantial product revenue becomes available.
Drug sales depend on completing development and obtaining regulatory approval. Intellia is preparing for a planned lonvo-z launch, subject to those conditions. The FDA continues to block the MAGNITUDE late-stage trial of nex-z after a participant suffered serious liver abnormalities and later died; it lifted the hold on the separate MAGNITUDE-2 trial.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Intellia’s results hinge on approval and adoption of its single-infusion HAE and ATTR treatments, with CSL’s established HAE business worth watching even though it is absent from this list.
Ionis Pharmaceuticals competes with both Intellia lead programs through DAWNZERA for hereditary angioedema (HAE) and WAINUA for transthyretin amyloidosis (ATTR). Adoption of DAWNZERA and WAINUA shows the treatment choices Intellia’s lonvo-z and nex-z would face.
BioCryst Pharmaceuticals sells ORLADEYO, a daily oral medicine that prevents HAE attacks, competing for the patients Intellia hopes to treat with lonvo-z. ORLADEYO revenue is a concrete measure of the established oral prevention business lonvo-z would challenge.
Alnylam Pharmaceuticals sells AMVUTTRA and ONPATTRO for ATTR amyloidosis, competing with Intellia’s investigational nex-z. Adoption of these medicines shows the established treatment market nex-z would enter; Alnylam holds their worldwide development and commercial rights.
Regeneron Pharmaceuticals shares Intellia’s nex-z development costs and would share its commercial outcome: Intellia leads the program, while Regeneron bears 25% of development expenses and receives 25% of profits or bears 25% of losses if it launches. Regeneron’s collaboration cost reimbursements also feed directly into Intellia’s collaboration revenue.
Pharvaris is developing oral deucrictibant to prevent HAE attacks, competing for patients who could instead receive Intellia’s single-infusion lonvo-z. Its Phase 3 prevention study—not its separate on-demand treatment results—is the relevant test of that alternative.
BridgeBio Pharma sells oral Attruby for ATTR cardiomyopathy, competing in the disease market Intellia targets with nex-z. Attruby’s $362.4 million of U.S. net product revenue in 2025 provides a concrete measure of this established treatment business.
CRISPR Therapeutics and Intellia both develop gene-editing medicines, so clinical validation and disputes over foundational Cas9 patents matter to both. Its approved CASGEVY treats eligible patients with severe sickle cell disease or transfusion-dependent beta thalassemia, offering an adoption reference for gene editing rather than a direct HAE or ATTR rival.
Beam Therapeutics and Intellia both depend on showing that gene editing works safely and reaches the intended cells; Beam changes individual DNA bases, an approach called base editing. Beam’s revenue comes mainly from licenses and collaborations rather than medicine sales, so clinical evidence matters more here than product revenue.
ADARx Pharmaceuticals is developing onvuzosiran for HAE, an alternative to Intellia’s lonvo-z that reduces protein production by silencing RNA rather than editing genes. Clinical evidence on onvuzosiran would help define the alternative lonvo-z faces in HAE prevention.
Takeda’s TAKHZYRO prevents HAE attacks and gives patients an established alternative to the single-infusion prevention approach Intellia is developing with lonvo-z.
Pfizer sells Vyndaqel and Vyndamax for ATTR cardiomyopathy, giving patients established treatment alternatives to Intellia’s investigational nex-z.
Caribou Biosciences grants Intellia rights to use foundational CRISPR/Cas9 patents in a defined human-therapeutics field, tying Intellia’s drug development and commercialization rights to that portfolio. Patent rulings matter more to this link than Caribou’s own cancer-treatment trials.
AstraZeneca competes with Intellia’s nex-z through WAINUA for ATTR amyloidosis, selling it jointly with Ionis in the United States and holding exclusive commercial rights elsewhere. WAINUA adoption is the relevant signal for Intellia, rather than AstraZeneca’s unrelated oncology sales.
Alnylam Pharmaceuticals, Inc. earningsALNY
Alnylam’s report will show how its ATTR medicines are selling, giving Intellia Therapeutics a read on the established treatments nex-z would have to compete with.
Watch sales of Alnylam’s AMVUTTRA and ONPATTRO. Growing sales would show that established ATTR treatments are gaining use, leaving nex-z—if approved—to persuade patients and prescribers to choose or add a new approach; weakening sales would suggest less momentum for those medicines, not prove that patients would switch to an unapproved gene-editing therapy.
Regeneron Pharmaceuticals Inc earningsREGN
Regeneron’s report can show whether its shared nex-z program with Intellia Therapeutics is continuing and what that means for shared development costs.
Look for Regeneron’s comments on the ATTR collaboration, then compare them with Intellia’s collaboration revenue and research and development spending. Continued joint work and cost sharing would mean Intellia still has partner support for nex-z; a slowdown or weaker support could leave Intellia bearing more of the development cost and facing delays.
BioCryst Pharmaceuticals Inc earningsBCRX
BioCryst’s report will show whether ORLADEYO sales are growing, a measure of the daily oral HAE prevention option that would compete with Intellia Therapeutics’ lonvo-z.
Watch BioCryst’s ORLADEYO sales. Growth would show that patients continue to take up daily oral prevention, so lonvo-z, if approved, would need to persuade patients and prescribers that a single infusion is worth considering; weaker sales would mean less momentum for that oral option, not that patients will choose unapproved lonvo-z.
Intellia Therapeutics, Inc earningsThis company
Intellia Therapeutics’ report will show whether progress on its lead gene-editing programs still fits the company’s funding plan.
Read any path to resuming the MAGNITUDE trial alongside research and development spending and cash used in operations. A clear path forward with contained cash use would suggest Intellia can keep advancing its lead programs as planned; continued uncertainty or faster cash use would mean more pressure to delay work or raise funds.
