Scribe Therapeutics (SCTX Proposed), an Eli Lilly-backed Phase 1 biotech developing drugs to lower cholesterol and triglyceride levels, launched its $100.1 million IPO early today – with plans to price it later this week. The company, based in Alameda, California, is offering 7.15 million shares at a price range of $13.00 to $15.00 to raise $100.1 million, if priced at the $14.00 mid-point of its range. At pricing, Scribe Therapeutics would have a market cap of $226.55 million.
Leerink Partners, Goldman Sachs, Guggenheim Securities and Wells Fargo Securities are the joint book-runners.
Bankers are set to price Scribe Therapeutics’ IPO this week – on Thursday night, July 23, 2026 – to trade Friday, July 24 – on the NASDAQ. (Note: Corrects month to July from June.)
Aventis, a Sanofi company, and Genzyme, which Sanofi acquired in 2011, have agreed to buy $7.5 million of stock in a concurrent private placement at a price equal to the IPO price, the prospectus said.
Eli Lilly, an existing shareholder, has indicated an interest in purchasing stock at the IPO price that – together with its existing holdings in Scribe – equal up to 10.9 percent of the number of shares of Scribe’s outstanding stock after the IPO and the concurrent private placement, according to the prospectus.
Scribe Therapeutics is using gene-editing technology to develop drugs to treat atherosclerotic cardiovascular disease (ASCVD), the prospectus said.
“We have engineered two proprietary technologies based on a novel CRISPR-CasX enzyme: the Epigenetic Long-Term X-Repressor, or ELXR, designed for precise, durable epigenetic silencing without altering the underlying DNA sequence, and the X-Editor, or XE, designed for specific and efficient gene editing,” Scribe Therapeutics said in the prospectus.
Scribe Therapeutics is not profitable: The company reported a net loss of $35.73 million on collaboration revenue of $36.28 million for the 12 months that ended on March 31, 2026, according to financial statements in the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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