Intellia Launches $150M Stock Sale as Shares Rally 25% on Phase 3 Catalyst
Intellia Therapeutics filed for an underwritten public offering of $150 million of common stock, plus a 30-day option for underwriters to purchase an additional 15% of shares. Intellia shares surged 25% on April 27 in anticipation of topline data from its Phase 3 HAELO study of lonvoguran ziclumeran for hereditary angioedema.
1. Proposed $150M Public Offering
Intellia Therapeutics announced an underwritten public offering of $150 million of common stock under its existing shelf registration. The offering size, timing and terms remain subject to market conditions and finalization in a forthcoming prospectus supplement.
2. Underwriters and Overallotment Option
The offering grants Jefferies, Goldman Sachs & Co. LLC and Citigroup a 30-day option to purchase up to an additional 15% of the shares. All shares in the transaction will be sold by Intellia, with no secondary selling stockholders.
3. 25% Stock Rally on Phase 3 HAELO Data Hopes
Intellia’s shares jumped about 25% on April 27 as investors positioned for anticipated topline results from the Phase 3 HAELO study of lonvoguran ziclumeran. Market participants view the trial as a key test of the company’s in vivo CRISPR platform and its potential path to commercialization.