IPO Update: Intellia Launch Shows CRISPR Still Excites While Others Struggle

Intellia Therapeutics Inc. sold more shares in its initial public offering than originally expected and the CRISPR/Cas9 specialist did so at the top of its proposed price range, proving that investors remain excited about gene editing, but have less enthusiasm for other early-stage therapeutics firms.

Both Intellia and its CRISPR/Cas9 peer Editas Medicine Inc. were trading above their IPO prices as of May 6, as were five other biotech companies that went public in 2016. So far, only nine drug, cell or gene therapy developers have entered the stock market this year – almost half of the 2015 total as of early May. Stock performance is improving compared with early 2016, but biotechs remain somewhat wary and IPO activity is likely to remain below the vigorous pace of the past few years