Scribe Therapeutics Prices $128.7M IPO at Top of Range, Backed by Lilly and Sanofi

Scribe Therapeutics (SCTX) priced its upsized IPO at $15.00 per share on July 23, 2026, the top of its $13 to $15 range, raising $128.7 million in gross proceeds. The offering was upsized from an initial $100 million target. Shares begin trading on the Nasdaq Global Market today, July 24, under the ticker SCTX, with the offering expected to close July 27.

The Alameda, California-based company sold 8,580,000 shares, up from the 7.15 million originally filed. The IPO values Scribe at approximately $226.6 million at pricing.

Sanofi also purchased 500,000 shares at $15.00 in a concurrent private placement, adding $7.5 million. Eli Lilly indicated it would buy stock in the IPO, which combined with its existing holdings would give it a 10.9 percent stake in Scribe.

The science: CRISPR for cholesterol

Scribe is a clinical-stage biotech engineering CRISPR-based genetic medicines for common diseases, starting with cardiovascular conditions. The company was co-founded by Jennifer Doudna, who shared the 2020 Nobel Prize in Chemistry for the discovery of CRISPR-based genome editing.

Scribe uses a novel CRISPR enzyme called CasX, distinct from the Cas9 enzyme used by most other CRISPR companies. The company’s CRISPR by Design approach engineers enzymes specifically for in vivo use inside the human body rather than adapting tools originally built for laboratory research.

The lead candidate, STX-1150, is an IV infusion designed to epigenetically silence the PCSK9 gene and reduce LDL cholesterol without cutting DNA. A single dose is expected to last up to four years. Scribe launched a first-in-human Phase 1 trial in Australia in up to 64 adults with elevated LDL-C and increased cardiovascular risk. Topline data is expected in the first half of 2027.

Two additional candidates are in preclinical development: STX-1200 targets the LPA gene to lower lipoprotein(a), and STX-1400 targets APOC3 to reduce triglycerides. Both are delivered by injection, with Phase 1 readouts expected in 2028 and 2027 respectively.

Why Lilly and Sanofi are involved

The pharma backing tells the story. Sanofi signed a $1.5 billion research partnership with Scribe in 2023 and is now buying equity. Lilly, which just won FDA approval for its own oral PCSK9 inhibitor LIPFENDRA on July 16, wants a stake in a technology that could make daily pills obsolete.

The connection is direct. LIPFENDRA is a once-daily pill for LDL cholesterol. Scribe’s STX-1150 aims to do the same thing with a single IV infusion that lasts years. If the gene silencing approach works, it shifts cardiovascular prevention from lifetime medication to one-time intervention. Lilly is hedging its own pill by backing the technology that could eventually replace it.

For more on the oral PCSK9 inhibitor that just reached the market, see our coverage of Merck’s LIPFENDRA approval.

The IPO market context

Biotech IPOs are the hottest sector in the 2026 market, with standout returns averaging 55 percent. Scribe’s upsizing from $100 million to $128.7 million and pricing at the top of the range confirm the window is wide open.

The underwriter lineup signals strong institutional demand: Leerink Partners, Goldman Sachs, Guggenheim Securities, and Wells Fargo Securities served as joint book-running managers. Scribe granted the underwriters a 30-day option to purchase up to 1,287,000 additional shares.

Scribe is not profitable. The company reported a net loss of $35.73 million on collaboration revenue of $36.28 million for the 12 months ended March 31, 2026. That is typical for a Phase 1 biotech. The IPO proceeds are earmarked for clinical development: $30 to $35 million for the STX-1150 Phase 1 trial, $15 to $20 million each for STX-1400 and STX-1200, and $20 to $25 million for pipeline and platform work.

What to watch next

1. First-day trading: Watch the opening print and volume. A first-day pop above $18 would signal strong retail appetite for CRISPR biotech exposure.
2. STX-1150 Phase 1 data (H1 2027): This is the catalyst that determines whether epigenetic PCSK9 silencing works in humans. The trial is running in Australia.
3. Lilly and Sanofi collaboration updates: Both pharma partners have development milestones tied to the platform. Watch for expanded deal terms or option exercises.

The risk is real. Scribe is years from any approval, and CRISPR therapies for common cardiovascular disease are unproven. But the pharma money, the Nobel Prize pedigree, and the open IPO window make this the biotech listing to watch this week.

Source: Scribe Therapeutics press release via GlobeNewswire | IPOScoop | Fierce Biotech