Intellia Therapeutics (NTLA.US), a US gene editing company, has announced plans to focus its resources on developing its candidate drugs NTLA-2002 and nex-z, while discontinuing the development of NTLA-3001. This decision will result in the company cutting approximately 27% of its workforce.NTLA-2002 is being developed for the treatment of hereditary angioedema, while nex-z is being developed for the treatment of ATTR amyloidosis. NTLA-3001 was being developed for the treatment of pulmonary diseases associated with alpha-1 antitrypsin deficiency. In addition to NTLA-3001, the company will also discontinue some projects in certain research stages.Intellia Therapeutics believes that NTLA-2002 and nex-z have the greatest opportunity to create significant short-term value. The company expects about $8 million in expenses related to the reorganization in the first quarter of 2025.Intellia Therapeutics had about $862 million in cash, cash equivalents, and investments at the end of 2024, which should fund its operations until the second half of 2027.Intellia Therapeutics also announced that its chief scientific officer, Laura Sepp-Lorenzino, is retiring. She will continue to serve as a senior scientific advisor for the company through the end of the year. Birgit Schultes, the company's head of immunology and cell therapy, will become chief operating officer on Jan. 13. The company also said it plans to complete the construction of its commercial leadership team before the second half of 2025.