Actionable news
0
All posts from Actionable news
Actionable news in EDIT: Editas Medicine Inc,

Intellia Jumps On CRISPR IPO Bandwagon

In February we had the Editas (EDIT) IPO which doubled promptly in the market. The entire biotechnology world is enamored with the potential of these core gene-editing technologies.

One of the companies mentioned in our note: A CRISPR view of Editas was Intellia so their offering has been much anticipated.

Here's our brief note on NTLA:

Bullets and Tickers

  • Another plan on the CRISPR/CaS9 gene-editing technology.
  • Two major collaborations – one with Novartis and the other with Regeneron. Circa $500M in potential milestone payments and circa 10% royalties.
  • First IND planned for 2018. IPO expected to provide funding to carry the company through the next 36 months to their “inflection point.”
  • If NTLA trades in line with their direct comparable EDIT the shares should settle between $30-35 from their proposed $17 filing range mid-point.
  • IP risks remain, management team a bit financial/opportunistic versus scientific and investors should remember his is early development-stage stuff that works in mice but might be much harder to perfect in humans.

Industries: Healthcare, Drugs - Themes: Gene Therapy, CRISPR

Positioning Commentary

Intellia

(NTLA)

is another well-known and well-financed player exploiting the profound ability to edit genes to cure genetic diseases. We wrote fairly extensively on one of their primary competitors,

Editas

(EDIT) which came public in February at $16/share and now trades at $32/share which is a $1.1B market capitalization.

Intellia is taking the same IP, wrapping a professional/financial management team around it and working to develop products.

Intellia has partnered with Novartis and Regeneron to work on drugs using both ex vivo and in vivo applications. Novartis put in...


More