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CRISPR Firm Intellia Prices IPO at $16 to $18 Per Share

NEW YORK (GenomeWeb) – Intellia Therapeutics has priced shares for its upcoming initial public offering in the range of $16 to $18, according to an amendment to its preliminary prospectus filed today with the US Securities and Exchange Commission.

The Cambridge, Massachusetts-based CRISPR/Cas9 gene-editing firm also announced in the amended prospectus that it will offer 5 million shares of common stock in the IPO, and that the Novartis Institutes for Biomedical Research has agreed to concurrently purchase $5 million in common stock in a separate private placement at a price equal to the offering price.

Intellia had previously announced that Regeneron Pharmaceuticals would purchase $50 million in stock in a similar private placement.

The share pricing places a $90 million ceiling on the offering, though the company is also making 750,000 shares available to the IPO underwriters which would bring the total value to no more than $103.5 million.

Intellia filed is preliminary prospectus with the SEC on April 9.

According to that filing, the firm had $75.8 million in cash and cash equivalents and $66.9 million in working capital as of Dec. 31, 2015.