Skip to content

Intellia Therapeutics Sinks as Patent Ruling Overshadows Crispr Promise

  • Uncertainty from decision compounds gene-editing stock malaise
  • Questions could add fuel to a broader biotech retrenchment
Updated on

Intellia Therapeutics Inc. fell by the most in more than five years after the gene-editing company suffered a significant legal setback on the same day it unfurled promising early data on its leading drug candidate.

The Cambridge, Massachusetts-based biotechnology company is one of a throng of firms racing to bring new therapies based on the gene-editing technology Crispr to market. On Monday, the U.S. Patent and Trademark Office invalidated a key patent Intellia licensed, casting a cloud of uncertainty over how much the company will be able to profit from the drugs it is developing.