Intellia Therapeutics (NTLA) experienced a pre-market plunge of 5.23% on Wednesday, following the company's announcement of positive Phase 3 trial results and regulatory progress for its gene-editing therapy.

The decline comes despite Intellia reporting positive topline data from its global Phase 3 HAELO trial of lonvoguran ziclumeran (lonvo-z) in hereditary angioedema, which showed the treatment sharply reduced attacks compared to placebo. The company also began a rolling biologics license application with the FDA for this potentially groundbreaking one-time in vivo CRISPR treatment.

However, alongside these positive developments, Intellia moved to raise approximately $150 million through a follow-on equity offering. This capital raise, while funding late-stage trials and pre-launch work, may be causing investor concern about potential shareholder dilution, explaining the stock's downward movement despite the encouraging clinical data.