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Here's Why Editas Medicine Inc. Stock Is Slipping Today

TheMotleyFool

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Here's Why Editas Medicine Inc. Stock Is Slipping Today

Shares of Editas Medicine Inc. (NASDAQ: EDIT), a biotech that aims to correct disease‑causing genes with CRISPR technology, are in retreat following the pricing of a secondary share offering this morning. The stock has fallen about 9.2% as of 10:38 p.m. EST on Wednesday.

Editing faulty genes looks like a cost-effective way to treat heaps of diseases, but running clinical trials necessary to bring new treatments to market is terribly expensive. Editas Medicine's plan to raise cash by issuing new shares is bitter, yet necessary, medicine.

Image source: Getty Images.

Source: Fool.com