Scribe Therapeutics to Sell 7.15 Million Shares at $13-$15 Each in IPO

By Colin Kellaher

Scribe Therapeutics on Monday said it plans to sell 7.15 million shares at between $13 and $15 apiece in its initial public offering.

At the $14 midpoint of that price range, the Alameda, Calif., clinical-stage biotechnology company said it expects net proceeds from the IPO and a concurrent private placement of about $96.2 million, or around $110.2 million if the underwriters exercise an option to buy an additional 1.07 million shares.

Scribe said French drugmaker Sanofi has agreed to buy about $7.5 million worth of stock in the private placement, while Eli Lilly, which would see its current 12.4% stake in the company reduced by the IPO, plans to buy shares in the offering that would bring its stake to 10.9%.

Scribe, which is developing genetic medicines for cardiometabolic disorder, said it believes the proceeds, coupled with its current resources, will be sufficient to fund its operations and capital spending into the first half of 2029.

Scribe said it would have about 17.2 million shares outstanding after the IPO and private placement, assuming an exercise of the overallotment option, for a market capitalization of about $241.6 million at the $14-a-share pricing midpoint.

The company said it has applied to list its shares on the Nasdaq Global Market under the symbol SCTX.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 20, 2026 08:13 ET (12:13 GMT)