Benzinga | Jun 29, 2021 06:58AM EDT

Intellia Seeks To Raise $400M Via Equity

* Intellia Therapeutics Inc (NASDAQ:NTLA) commenced an underwritten public offering of $400 million shares of its common stock.

* Underwriters have an option to purchase up to an additional 15% of the shares offered in the public offering.

* Proceeds will be used to advance the clinical development of lead programs, other pipeline candidates, continued investment in the modular platform, working capital, and other general corporate purposes.

* See the prospectus here.

* Yesterday, the company, along with its partner Regeneron Pharmaceuticals Inc (NASDAQ:REGN), reported interim results for the genome editing candidate that reduced serum levels of transthyretin by 87% in patients who received a higher dose.

* Price Action: NTLA shares are down 2.57% at $130 during the premarket session on the last check Tuesday.

* Related link: Intellia Therapeutics Analyst Doubles Price Target: What You Need To Know