another $120 million was poured into the company<\/strong><\/a> in a private offering.<\/p>\nYou didn’t hear about Editas Medicine at the JP Morgan Healthcare Conference for good reason. Hindsight indicated that $EDIT was anticipating going public in the first quarter of the year and did not want to violate its ‘quiet period’.<\/p>\n
So, why the buzz?<\/p>\n
The company\u2019s CRSPR-Cas9 (clustered, regularly interspaced short palindromic repeats)\/Cas9 (CRISPR associated protein 9) platform seeks to identify and repair faulty DNA strands that cause disease, holding the potential to completely eradicate certain types of genetic disease.<\/p>\n
Editas is still in pre-clinical development of its gene-editing platform with its first compound (LCA10), a treatment for blindness, not expected to begin human trials until 2017.<\/p>\n
“In last year’s biotech market, this deal would be a home-run,” senior managing partner at IPOBoutique, Scott Sweet, said.<\/p>\n
Instead, the deal is being courted in the midst of one of the most volatile periods in U.S. stock market history.<\/p>\n
“A positive outcome could certainly fire up the biotech IPO market,” Sweet said.<\/p>\n
It will be the first deal of the year for two major investment banks, Morgan Stanley and JP Morgan, who are the joint book-runners on Editas Medicine. The deal is currently in the midst of a seven-day roadshow where they have filed to price 5.9m shares at a $16-$18 range. Currently, the demand for this deal is trending toward the high end of that prevailing range which will value the biotech near the $650m mark.<\/p>\n
Expectations for Editas Medicine are about as high as the volatility in the market. The outcome of 2016’s first high-profile biotech will be on the radar of IPO and healthcare investors next week.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The biotech barometer may be here. Editas Medicine (Nasdaq: EDIT),\u00a0 a leading genome editing company dedicated to treating patients with genetically defined diseases by correcting their disease-causing genes, updated terms for its IPO and has scheduled a February 3rd trade date. The interest in this deal is currently very large for a few reasons. For[…]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24],"tags":[739,19],"class_list":["post-1134","post","type-post","status-publish","format-standard","hentry","category-ipo","tag-edit","tag-juno"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/1134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=1134"}],"version-history":[{"count":5,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/1134\/revisions"}],"predecessor-version":[{"id":1139,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/1134\/revisions\/1139"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=1134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=1134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=1134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}