Intellia Therapeutics Inc. (NASDAQ: NTLA) announced it has commenced an underwritten public offering of $150 million of common stock shares. The Cambridge, Massachusetts-based biopharmaceutical company also plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares offered.

All shares in the proposed offering will be sold by Intellia. The company focuses on CRISPR gene editing and other technologies for developing treatments.

Jefferies, Goldman Sachs & Co. LLC and Citigroup are serving as joint book-running managers for the offering. The transaction is subject to market and other conditions, with no assurance regarding completion timing or final terms.

The shares are being offered under an automatic shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission on November 24, 2023. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC.

The offering is being conducted pursuant to the previously effective registration statement, allowing Intellia to proceed with the capital raise through established regulatory frameworks.