Scribe Therapeutics surges 67% after $129M IPO as biotech market heats up

Scribe Therapeutics raised $128.7 million in gross proceeds and watched its stock climb roughly 67% on its first day of trading on the Nasdaq. The company sold 8.58 million shares at $15 each, the top end of its price range, under the ticker SCTX. What Scribe actually does Scribe Therapeutics was founded between 2017 and 2018, emerging from UC Berkeley’s Doudna Lab. Rather than making permanent cuts to DNA, Scribe’s approach focuses on epigenetic silencing — their technology tells certain genes to be quiet without permanently altering the underlying DNA. Their lead candidate, STX-1150, is currently in Phase 1 clinical trials targeting LDL cholesterol reduction. The company also has a preclinical program called STX-1200, which aims to reduce levels of lipoprotein(a), or Lp(a). Preclinical data showed STX-1200 achieved over 90% knockdown of Lp(a) in models. The money trail and big pharma validation The company’s initial funding included $20 million from Andreessen Horowitz. By March 2026, the company’s cash position sat at approximately $50 million. Scribe has established partnerships with Biogen, Sanofi, and Eli Lilly. The collaboration agreements with these partners provide milesto...