In a surprising development, CRISPR Therapeutics (Pending:CRSP) downsizes its IPO to 4M common shares from 4.7M and drops the price to $14, below the original range of $15 - 17. Underwriters over-allotment is an additional 600K shares. Closing date is October 24. Trading begins today.
The company was co-founded by one of the CRISPR/Cas9 discoverers, Emmanuelle Charpentier. The technology is the "next big thing" in biotech. Investors will want to keep an eye on this one, along with Editas Medicine (NASDAQ:EDIT) and Intellia Therapeutics (NASDAQ:NTLA).