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This Is Why CRISPR Therapeutics Stock Is Tumbling on Tuesday
CRISPR Therapeutics’ stock plummeted over 12% today after the company announced its intention to issue $350 million worth of convertible notes to raise funds. While the market reacted negatively to the potential for shareholder dilution, this fundraising is typical for biotech startups and is expected to fuel the development of CRISPR’s promising gene-editing drug pipeline, which includes an already approved gene therapy and five ongoing clinical trials. Analysts maintain a bullish stance on CRSP, suggesting this dip could be a buying opportunity for risk-tolerant investors.