BUZZ-Gene-editing firm Intellia falls on $180 mln stock sale

Jefferies Financial Group Inc.
Intellia Therapeutics, Inc.

Jefferies Financial Group Inc.

JEF

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Intellia Therapeutics, Inc.

NTLA

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** Shares of biopharma Intellia Therapeutics NTLA.O down 8.4% in premarket trading to $12.09 after $180 mln follow-on pricing

** Co announces ~16.7 mln shares at $10.75, which is an 18.6% discount to stock's last close

** On Mon, NTLA's stock finished session down >4% at $13.04 after co said its experimental gene-editing therapy reduced frequency of swelling attacks in late-stage trial

** Following the results, co said to start a rolling submission of its data to seek U.S. FDA's approval of the gene therapy next year

** After the bell Mon, NTLA launched $150 mln equity offering to fund clinical development and prepare commercial launch of its lead programs, R&D for other pipeline candidates, potential acquisitions, among other purposes, according to prospectus

** Jefferies, Goldman Sachs and Citigroup joint bookrunners

** Cambridge, Massachusetts-based NTLA had ~118.1 mln shares outstanding prior to this offering

** NTLA's stock edged up ~1% on Tues, putting it up 47% YTD

** Avg rating of 24 analysts covering the stock is "buy"; median PT $16, per LSEG data