Basking in limelight of a CRISPR breakthrough, Intellia bags $600M cash raise as shares soar to all-time high
“Raise money when you can, not when you have to” has become a familiar refrain in the biotech world. On the heels of a landmark breakthrough for in vivo CRISPR/Cas9 editing, Intellia Therapeutics is certainly taking it to heart.
The gene editing pioneer has loaded up in a new public offering that sold its shares at $145 a pop — a 60% jump from its closing price on Friday, just ahead of an industry-shaking milestone. Over the weekend, it dropped initial data suggesting that it can use CRISPR to directly edit DNA in humans, offering a landmark proof-of-concept for the burgeoning field.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.