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
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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
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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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