Skip to main content
Premium Trial:

Request an Annual Quote

Editas Plans Common Stock Offering

NEW YORK (GenomeWeb) – Editas Medicine is planning a public offering of 4 million shares of common stock, according to a document filed with the US Securities and Exchange Commission.

The Cambridge, Massachusetts-based firm said in a statement that it plans to use the proceeds to fund pre-clinical studies and clinical trials for CRISPR-based human therapies, specifically eye diseases, including Leber congenital amaurosis (LCA) 10.

In the Form 424B5, the firm added that it will be seeking an investigational new drug application from the US Food and Drug Administration by the end of 2017.

The funds will also support the firm's programs for non-malignant hematologic diseases, its collaboration with Juno Therapeutics on chimeric antigen receptor T cells, and expansion of its technology platform. Funds may also be used for working capital and other general corporate purposes.

Morgan Stanley and J.P. Morgan will act as joint book running managers. Cowen and Company is acting as lead manager while JMP Securities is acting as co-manager. Editas will also grant the underwriters a 30-day option to purchase an additional 600,000 shares.

On March 3, Editas filed a shelf registration with the SEC to sell up to $350 million in debt securities. The firm also said that stockholders may offer and sell more than 15 million shares of common stock.

In a separate document, also filed March 3, the firm disclosed that it would sell just over 1.8 million shares of common stock under its employee stock purchase program.

In after-hours trading on the Nasdaq, share of Editas were down less than 1 percent at $24.49.