Scribe Therapeutics priced its IPO at $15 a share, the top of the $13-15 range, and upsized the deal to 8.58 million shares. That’s $128.7 million in gross proceeds, well ahead of the $96 million net figure the company had guided just days earlier. Scribe priced the offering at the ceiling, with underwriters holding a 30-day option for another 1.3 million shares, a package that could push the total past $148 million.
Sanofi isn’t just cheering from the sidelines. The drugmaker is buying $7.5 million of stock in a concurrent private placement, layering an equity stake on top of a 2023 collaboration worth $1.5 billion in biobucks. That’s the real buyer math: Sanofi already has skin in Scribe’s CRISPR platform through royalties and milestones, and now it owns a piece of the company outright.
What Scribe gets is a war chest. $30 million to $35 million funds a Phase 1 study of STX-1150, a PCSK9-silencing gene editor now racing Amgen’s Repatha, Novartis’ Leqvio, and Merck’s newly FDA-approved oral pill Lipfendra. Enrollment just started in Australia, with data due in the first half of 2027.
The pricing fits a pattern. Kailera Therapeutics and Parabilis Medicines both broke IPO records earlier this year after 2025’s dry spell. The back-to-back records signal the window reopened for real, and bankers won’t wait long to walk more names through it.
The deal closes July 27. Sanofi’s check clears the same day.
— Diana Kowalski