Intellia Therapeutics (NTLA) plans to cut its workforce by 27% to cuts costs and stop development of NTLA-3001 to treat alpha-1 antitrypsin deficiency-associated lung disease and halt some research-stage programs.

Resources will be focused on NTLA-2002 for hereditary angioedema and nexiguran ziclumeran for transthyretin amyloidosis, the company said Thursday in a statement.

The company expects to incur charges of $8 million in Q1 in its reorganization.

The company ended Q4 with about $862 million in cash and investments. The combination of the cash balance and expected cost savings are expected to provide a cash runway into H1 2027, Intellia said.

Laura Sepp-Lorenzino will move from her role as chief scientific officer to become a senior scientific adviser before retiring on Dec. 31, the company said.

Birgit Schultes will be chief scientific officer, effective Monday, after leading immunology and cell therapy since 2017, the company said.