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Scribe Therapeutics shares jump about 67% in Nasdaq debut after upsized IPO raises $128.7 million

Scribe Therapeutics shares jump about 67% in Nasdaq debut after upsized IPO raises $128.7 million

The biotech priced at the top of its range, raising about $129 million at a $273 million market valuation in one of five U.S. IPOs last week, four of them SPACs.

Fact Check
The official GlobeNewswire press release confirms the upsized IPO of 8,580,000 shares at $15.00 (top of range), $128.7 million gross proceeds, and Nasdaq listing under SCTX. The ~67% first-day surge is corroborated by multiple independent outlets including CryptoBriefing and LiveMint. Renaissance Capital confirms the $273 million market cap and top-of-range pricing. All numeric and qualitative elements of the claim are supported by primary and corroborating sources.
Summary

Scribe Therapeutics raised $128.7 million in gross proceeds after pricing an upsized initial public offering of 8.58 million shares at $15 each, the top end of its range, and its stock climbed roughly 67% in its first day of trading on the Nasdaq under the symbol SCTX. The offering valued the biotech at about $273 million and came during a week that saw five U.S. public offerings, including four SPACs. Scribe is developing in vivo CRISPR-based medicines with an initial focus on cardiometabolic disease, but its approach emphasizes epigenetic silencing rather than making permanent DNA cuts. Its lead candidate, STX-1150, is in Phase 1 testing for LDL cholesterol reduction, while preclinical program STX-1200 is aimed at lowering lipoprotein(a), or Lp(a), and has shown more than 90% knockdown in preclinical models. Scribe, which emerged from UC Berkeley's Doudna Lab and has partnered with Biogen, Sanofi and Eli Lilly, had about $50 million in cash as of March 2026. The IPO extends funding for a company that already generates collaboration-related revenue through milestone payments and potential royalties, though it remains years away from potential product revenue if its programs succeed.

Terms & Concepts
  • epigenetic silencing: A method of turning down or switching off gene activity without permanently changing the underlying DNA sequence.
  • in vivo: A treatment approach delivered and acting inside the body rather than outside it.
  • Phase 1: The first stage of human clinical testing, typically used to evaluate safety and dosing.