EDITAS: The Hottest IPO of 2016 Is Crashing

The Hottest IPO of 2016 Is Crashing

Shares of startup gene editing biotech Editas, which had the first U.S. IPO of 2016, plunged nearly 26% in Tuesday trading after enjoying more than a month as the runaway most successful firm to go public this year

As The Street notes, one major reason for Editas’ success over its 2016 IPO peers is a heavy-hitting roster of investors which includes Bill Gates, Google Ventures, and Fidelity Investments, and others

The more likely possibility is the important impending court proceedings over a CRISPR patent dispute between the University of California and the Broad Institute/Massachusetts Institute of Technology which could shake things up in the market.

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