Shares of Editas Medicine Inc (NASDAQ:EDIT) fell 14.1% in premarket trading Tuesday after the Cambridge, Massachusetts-based gene editing company said it had commenced an underwritten public offering of common stock and warrants.
The company indicated the offering may include common stock or pre-funded warrants to acquire shares, together with accompanying warrants to purchase additional shares. Editas said all securities in the offering will be sold by the company itself.
Cantor and Wells Fargo Securities have been named as joint book-running managers for the proposed transaction. Editas emphasized that the offering is subject to market and other conditions and that there is no assurance the offering will be completed or that final terms will be established.
Data and development update
The disclosure follows the company’s recent presentation of preclinical data for its lead in vivo development candidate, EDIT-401. At the 94th European Atherosclerosis Society Congress in Athens on May 25, 2026, Editas reported that a single dose of EDIT-401 produced approximately 90% or greater mean reductions in LDL-cholesterol, lipoprotein(a), and apolipoprotein B in non-human primates.
Additionally, Editas said it received positive pre-IND feedback from the U.S. Food and Drug Administration on its nonclinical package and study design. The company plans to submit a Clinical Trial Notification in Australia by mid-2026 with the goal of initiating a first-in-human clinical trial of EDIT-401 in patients with Heterozygous Familial Hypercholesterolemia later this year.
Editas expects to have early in vivo human proof-of-concept data for EDIT-401 by the end of 2026, according to the company’s statement.
Toxicology interim results
Interim findings from an ongoing Good Laboratory Practice toxicology study in non-human primates were also disclosed. Editas reported EDIT-401 was well-tolerated at a therapeutically relevant dose of 1.5 mg/kg, with no adverse clinical observations and no notable treatment-related elevations in liver enzymes observed in the interim results.
The company’s capital markets action and its preclinical and regulatory updates were released concurrently in the morning trading session, and the market reaction reflected investor reassessment of near-term dilution and financing risk alongside the program’s scientific progress.
Further details on the offering, including any final terms and the timing of the sale, were not provided in the company’s announcement.