Editas Medicine down after $125 mln stock-and-warrants offering

Editas Medicine

26/05/2026 15:05

Updates with pricing details
** Gene editing firm Editas Medicine EDIT.O shares down 0.7% to $2.74 in early Tues trading after follow-on priced
** Cambridge, Massachusetts EDIT announces ~55.56 mln shares and accompanying warrants at $2.25 for $125 mln gross proceeds
** Offering price represents 18.5% discount to stock's last close on Fri
** EDIT would collect another $194.4 mln in gross proceeds if all the warrants are exercised at their exercise price of $3.50
** Warrants are exercisable under certain conditions, including following announced Phase 1 clinical data for product candidate, EDIT-401
** Earlier Tues, EDIT said it presented preclinical EDIT-401 data at the European Atherosclerosis Society Congress on May 25 that achieved robust reductions in LDL-cholesterol, lipoprotein(a) and apolipoprotein B in non-human primates
** Co intends to use net offering proceeds for EDIT-401, including clinical development and manufacturing, and for working capital and other general corporate purposes, per the prospectus
** EDIT has ~97.9 mln shares outstanding
** Cantor Fitzgerald and Wells Fargo joint bookrunners for the offering
** EDIT stock had gained 35% YTD through Fri
** Avg rating of 12 analysts is "buy"; median PT $4.80, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))