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Editas Prices IPO at $16 Per Share

NEW YORK (GenomeWeb) – Editas Medicine will offer 5.9 million shares of common stock in its planned initial public offering, at a price of $16 per share, according to a document filed today with the US Securities and Exchange Commission.

The Cambridge, Massachusetts-based firm said it expects to raise $94.4 million — $87.8 million in proceeds after discounts and commissions to the underwriters.

Editas filed for a public offering in early January, and later said it would set an offering price between $16 and $18.

Morgan Stanley, JP Morgan, Cowen and Company, and JMP Securities will serve as underwriters for the IPO.

Editas had $155.3 million in cash and cash equivalents as of Sept. 30, 2015. It had no revenues for the first nine months of 2015 and a net loss of $60.3 million, or $25.53 per share.