CRISPR Therapeutics, a preclinical biotech developing gene editing therapies with CRISPR/Cas9 technology, announced terms for its IPO on Friday.
The Basel, Switzerland-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. At the midpoint of the proposed range, CRISPR Therapeutics would command a fully diluted market value of $668 million.
CRISPR Therapeutics was founded in 2013 and booked $2 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol CRSP. Citi, Piper Jaffray and Barclays are the joint bookrunners on the deal. It is expected to price during the week of October 17, 2016.
