Intellia Seeks To Raise $400M Via Equity

Intellia Therapeutics Inc NTLA commenced an underwritten public offering of $400 million shares of its common stock.
Underwriters have an option to purchase up to an additional 15% of the shares offered in the public offering.
Proceeds will be used to advance the clinical development of lead programs, other pipeline candidates, continued investment in the modular platform, working capital, and other general corporate purposes.
See the prospectus here.
Yesterday, the company, along with its partner Regeneron Pharmaceuticals Inc REGN, reported interim results for the genome editing candidate that reduced serum levels of transthyretin by 87% in patients who received a higher dose.
Price Action: NTLA shares are down 2.57% at $130 during the premarket session on the last check Tuesday.
Related link: Intellia Therapeutics Analyst Doubles Price Target: What You Need To Know