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Prime Medicine (PRME) shares hugged the level enactment pursuing the cistron therapy developer's upsized $175M archetypal nationalist offering connected Thursday.
Shares of Prime opened astatine $18.97 aft being priced astatine $17 per share, hitting a precocious of $19 soon aft opening. The banal precocious changed hands astatine $16.95 astatine astir 1:00 p.m. ET.
Prime offered 10.3M shares priced astatine $17 apiece. Underwriters were granted a 30-day enactment to bargain up to 1.5M further shares.
The woody was upsized from one projected connected Oct. 13, which saw the biotech radical raising astir $151M by offering 8.9M shares priced betwixt $16 to $18.
Based successful Cambridge, Mass., Prime is processing one-time curative familial therapies utilizing a cistron editing exertion called Prime Editing. The institution is initially targeting diseases of the blood, liver, oculus and ear.
A preclinical signifier company, Prime reported a nett nonaccomplishment of $53M and nary gross for the six-month play ended June 30, 2022. Prime archetypal filed for an IPO successful precocious September.
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