Intellia Therapeutics' stock fell 5.07% during intraday trading on Monday, erasing earlier gains.

The decline followed the company's announcement that it has increased its at-the-market offering program to $1.04 billion, raising concerns about potential shareholder dilution.

This negative reaction overshadowed earlier positive news that the U.S. Food and Drug Administration had lifted a clinical hold on the company's MAGNITUDE Phase 3 trial for its gene therapy treatment nexiguran ziclumeran in transthyretin amyloidosis with cardiomyopathy.