Intellia Therapeutics reported a GAAP loss of $146.872 million for the 3 months of 2022, up 3.19 times from $46.205 million in the previous year. Revenue increased 74.6% to $11.252 million from $6.445 million a year earlier.

Intellia Therapeutics has received orphan drug status from the FDA for its drug NTLA-5001. The drug is for acute myeloid leukemia. This status provides the company with tax benefits for qualified clinical testing of the drug, a prescription drug tax exemption and seven years of marketing exclusivity following FDA approval.

Intellia Therapeutics' GAAP loss for 2021 was $267.892 million, doubling from $134.231 million in the previous year. Revenue decreased 43% to $33.053 million from $57.994 million a year earlier.

Intellia Therapeutics is acquiring Rewrite Therapeutics, which is developing new tools for genome editing, including polymerase DNA recording. Intellia will pay $45 million and an additional $155 million when certain milestones are reached.