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
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