Scribe Therapeutics Files for IPO of 7.15M Shares at $13.00-$15.00
Scribe Therapeutics Inc. filed an amendment for its Initial Public Offering, planning to offer 7,150,000 shares of common stock at an anticipated price range of $13.00 to $15.00 per share. The company has applied to list its common stock on the Nasdaq Global Market under the symbol "SCTX." Concurrently, Sanofi has agreed to purchase approximately $7.5 million in shares, and Eli Lilly and Company has expressed interest in purchasing shares up to 10.9% of the company's outstanding stock post-offering. Scribe Therapeutics, a clinical-stage biotechnology company, is advancing its lead product candidate STX-1150 into a first-in-human clinical trial, with initial data expected in the first half of 2027, and has other programs in preclinical development, while also noting a history of operating losses and substantial doubt about its ability to continue as a going concern.
Key Highlights
- Scribe Therapeutics plans to offer 7,150,000 shares of common stock in its IPO.
- Anticipated initial public offering price range is $13.00 to $15.00 per share.
- Sanofi agreed to purchase approximately $7.5 million in shares in a concurrent private placement.
- Eli Lilly and Company indicated interest in purchasing shares up to 10.9% of outstanding stock.
- Lead product candidate STX-1150 initiated first-in-human clinical trial in Australia.
- Initial data for STX-1150 trial anticipated in the first half of 2027.
- STX-1200 and STX-1400 programs received ~$25.7 million in grant funding from CIRM.
- Company had approximately $43.0 million in cash, cash equivalents, and short-term investments as of June 30, 2026.
Price Impact
More from SCTX