11:46 AM EDT, 03/25/2024 (MT Newswires) -- (Updates with Regeneron's response in the third paragraph and the latest stock move of Intellia and Regeneron in the fifth paragraph.)

Intellia Therapeutics ( NTLA ) said in a Friday filing that it has decided to end its 2020 agreement with Regeneron Pharmaceuticals ( REGN ) on developing gene editing products directed to factor IX, a blood clotting factor.

Intellia said it notified Regeneron about its decision on Tuesday and the agreement will be terminated 180 days after the notification. Intellia will no longer share 35% of the development costs or receive 35% of the profits upon termination.

"This decision has no impact on our pipeline or near-term strategy. We've been the lead on this program, and remain committed to advancing it further," Regeneron said in a Friday email to MT Newswires.

Intellia said it would continue to support Regeneron with the development of gene editing products targeting factor IX under the 2016 license and collaboration agreement between the companies. The drugmaker may receive up to $320 million in milestone payments and royalties in the high-single digits to low teens under this agreement.

Shares of Intellia were up 0.2% while Regeneron fell 3.1% in recent Monday trading.

Price: 26.96, Change: +0.05, Percent Change: +0.17