Eli Lilly-backed Scribe Therapeutics climbs 67% after raising $128.7 million in an upsized IPO. Scribe Therapeutics, a developer of gene therapies for heart diseases, rose 67% after raising $128.7 million in its IPO. Updated 24 Jul 2026, 10:21 PM IST Scribe Therapeutics Inc., a clinical-stage developer of gene therapies for heart diseases, surged 67% on Friday after raising $128.7 million in an upsized initial public offering. Shares of the Alameda, California-based biotech firm opened at $25 each in New York, versus an IPO price of $15. The company sold 8.58 million shares on Thursday, after marketing 7.15 million shares for $13 to $15 apiece. The trading gives Scribe a market value of about $440.3 million, based on the outstanding shares listed in its filings. Affiliates of Sanofi SA had agreed to purchase about $7.5 million in shares at the IPO price as part of a concurrent private placement, the filings showed. Eli Lilly & Co., one of Scribe's existing backers, indicated an interest in buying more shares in the IPO such that it would have as much as an 11% interest in Scribe after the offering and placement. Scribe is examining gene-editing technologies in heart and metabolic diseases, with initial focus on atherosclerotic cardiovascular disease, or ASCVD. The company expects to report initial data in the first half of 2027 from its trial in Australia for adults with increased risk of ASCVD. Scribe incurred a net loss of $17.4 million on collaboration revenue of $2.2 million for the three months ended March 31, according to the filings. A year earlier, it posted a net loss of $3.5 million on collaboration revenue of $17.1 million over the same period. Aside from Lilly, Scribe also counts entities affiliated with Andreessen Horowitz and Avoro Life Sciences Fund among its biggest shareholders. Scribe's IPO was led by Leerink Partners, Goldman Sachs Group Inc., Guggenheim Securities and Wells Fargo & Co. The shares trade on the Nasdaq Global Market under the symbol SCTX. [Get Latest real-time updates] Home Markets Eli Lilly-backed Scribe Therapeutics climbs 67% after raising $128.7 million in an upsized IPO.

Scribe Therapeutics, a clinical-stage biotechnology company developing in vivo CRISPR technologies, has priced its upsized initial public offering at $15.00 per share, the high end of its range. The company is offering 8,580,000 shares, expecting to raise $128.7 million in gross proceeds before fees and expenses. Scribe has also granted underwriters a 30-day option to purchase up to 1,287,000 additional shares. The shares are expected to begin trading on the Nasdaq Global Market on 24 July 2026 under the ticker symbol "SCTX", with the offering closing on 27 July 2026. Additionally, Scribe has agreed to sell 500,000 shares at the same price to Sanofi in a concurrent private placement. Leerink Partners, Goldman Sachs, Guggenheim Securities, and Wells Fargo Securities are serving as joint book-running managers.

Scribe Therapeutics joins the IPO queue. Scribe Therapeutics has become the latest biotech to announce plans to list on the Nasdaq, in what is being seen as a test of the appetite among investors for earlier-stage drug developers. Scribe - which counts new Nobel Prize for Chemistry winner Jennifer Doudna among its founders - is developing in vivo CRISPR-based therapies for cardiometabolic diseases, particularly atherosclerotic cardiovascular disease (ASCVD), and has a lead candidate in early-stage clinical testing. The proposed IPO - which has a placeholder value of $75 million, according to a Renaissance Capital report - comes amid what is shaping up to be a strong year for IPOs in 2026, but bucks the trend somewhat in that most of those that have crossed the line so far have involved biotechs with late-stage candidates and a fairly short timeline to market. Alameda, California-based Scribe's lead drug candidate is STX-115, designed to epigenetically silence PCSK9 and reduce low-density lipoprotein (LDL) cholesterol without permanently altering DNA, and is currently in a first-in-human trial in Australia, with data due next year. Preclinical studies have pointed to remarkable durability for the drug, with 50% or greater LDL-C reduction in non-human primates maintained for around 18 months after a single administration. Scribe's platform technology focuses on CRISPR-CasX, rather than the more common CRISPR-Cas9, and Scribe contends that this can generate CRISPR drugs with improved activity, specificity, and deliverability. STX-115 is followed by two other candidates - STX-1200 and STX-1400 - which apply the company's X-editing (XE) technology to two other well-established drug targets in cardiometabolic diseases, respectively Lp(a) and triglycerides. These are scheduled to start first-in-human clinical testing in 2027 and 2028, and were recently awarded more than $25 million in funding from the California Institute for Regenerative Medicine (CIRM). "Focusing a new class of genetic medicines on these three targets has the potential to address the overwhelming majority of lipid-mediated ASCVD risk, providing a long-term solution for cardiovascular health and reshaping how this disease is treated and ultimately prevented," according to Scribe's just-filed prospectus with the Securities & Exchange Commission (SEC). Scribe was founded in 2017 and plans to list on the Nasdaq under the SCTX ticker symbol. It had cash reserves of around $50 million as of the end of March. 3 July, 2026