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Shares of CRISPR Therapeutics Fall in After Hours Trading on Share Offering

Shares of CRISPR Therapeutics Fall in After Hours Trading on Share Offering

Stock had risen shaply during regular session on gene therapy progress.
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Stock had risen shaply during regular session on gene therapy progress.

Shares of CRISPR Therapeutics AG  (CRSP) fell in after-hours trading Tuesday after the gene-therapy company announced a public offering of 4.25 million shares.

The decline followed a sharp rise in the regular session sparked by positive initial results in an early-stage trial of a gene therapy for blood diseases including sickle cell anemia.

CRISPR rose $9.93, or 17%, to $68.46 in regular trading.

The stock fell $3.46, or 5%, to $65.00 in after hours action.

Underwriters of the share offering will have a 30-day option to purchase up to 637,500 additional common shares.

Elsewhere, biotech stocks were generally higher Tuesday. 

The iShares Nasdaq Biotech ETF (IBB) rose $2.21, or 1.99%, to $113.45.

Winners outpaced losers by more than 4 to 1 in the sector.

Among other notable biotech movers Tuesday, Athenex shares (ATNX) rose $4.08, or 35.66%, to $15.52. The company said it will present results of a phase III test of its Oral Paclitaxel treatment for breast cancer at the San Antonio Breast Cancer Symposium next month. 


Medicines Co. shares (MDCO) rose $11.56, or 19.71%, to $70.21 on reports it may be a takeover target for Novartis (NVS) .

Novartis is a holding in Jim Cramer's Action Alerts PLUS member club.