ARTICLE | Finance
Scarcity value
Why Intellia's venture investors couldn't get enough of the IPO
May 16, 2016 7:00 AM UTC
Scarcity value trumped dour market conditions a second time as Intellia Therapeutics Inc. (NASDAQ:NTLA) debuted with the highest-ever postmoney valuation for a preclinical company. The title previously belonged to CRISPR gene-editing competitor Editas Medicine Inc. (NASDAQ:EDIT).
Intellia raised $108 million on May 5 in a bumped-up IPO of 6 million shares at $18 and enjoyed an after-market pop during a week that saw the BioCentury 100 index fall 5%. The company had proposed to sell 5 million shares at $16-$18...