CAMBRIDGE, Mass., March 16, 2017 (GLOBE NEWSWIRE) -- Editas Medicine, Inc. (NASDAQ:EDIT), a leading genome editing company, today announced the pricing of an underwritten offering of 4,000,000 shares of its common stock at a price to the public of $22.50 per share. The gross proceeds to Editas Medicine from this offering are expected to be approximately $90 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Editas Medicine has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock on the same terms and conditions.

Editas Medicine intends to use the net proceeds of the offering to fund preclinical studies and clinical trials for its LCA10 program and its other programs to treat genetic and infectious diseases of the eye, preclinical studies of its programs to treat non-malignant hematologic diseases, preclinical studies in its collaboration with Juno Therapeutics, preclinical studies of other research programs, continued expansion of its platform technology, and for working capital and other general corporate purposes.

All of the shares in the offering are to be sold by Editas Medicine. The offering is expected to close on March 22, 2017, subject to customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as joint book running managers for the offering. Cowen and Company is acting as lead manager, and JMP Securities is acting as co-manager.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Editas Medicine

Editas Medicine is a leading genome editing company dedicated to treating patients with genetically-defined diseases by correcting their disease-causing genes. The Company was founded by world leaders in genome editing, and its mission is to translate the promise of genome editing science into a broad class of transformative genomic medicines to benefit the greatest number of patients.