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Editas Seeks up to $122M in Planned IPO

NEW YORK (GenomeWeb) – CRISPR-based therapy developer Editas Medicine is looking to raise up to $122 million in a planned initial public offering, according to an amended prospectus filed today with the US Securities and Exchange Commission.

According to the amended Form S-1, Editas has registered to sell 5.9 million shares with a proposed price per share between $16 and $18, for a maximum offering price just over $122 million. The firm will also offer 885,000 shares of common stock to the underwriters to cover over-allotments.

The firm also disclosed that it effected a one for 2.6 reverse stock split on Jan. 15. It said that it would have 35,699,538 shares outstanding following the offering, or 36,584,538 shares if the underwriters exercise their option to purchase additional shares in full.

Editas filed its preliminary prospectus with the SEC on Jan. 5.

According to the filing, the firm 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.