aibioScribe Therapeutics files for IPO, plans Nasdaq listing as SCTX
Tickers SCTX
Scribe Therapeutics filed an S-1 on July 2, 2026 with blank share and price terms. Management and its auditor have raised substantial doubt about its ability to continue as a going concern.
Key facts
- Company
- Scribe Therapeutics Inc. (NASDAQ: SCTX)
- News type
- Financings
- Primary source
- Scribe Therapeutics Inc. S-1 (2026-07-02)
Scribe Therapeutics Inc. filed a Form S-1 registration statement with the Securities and Exchange Commission on July 2, 2026 for an initial public offering of its common stock. The Alameda, California company said no public market currently exists for its shares. It has applied to list the stock on the Nasdaq Global Market under the symbol SCTX, and says the closing depends on that listing. The cover leaves the number of shares and the price range blank.
Leerink Partners, Goldman Sachs & Co. LLC, Guggenheim Securities and Wells Fargo Securities are named on the cover as underwriters. They would hold a 30-day option to buy additional shares at the offering price less underwriting discounts and commissions. Fenwick & West LLP of Seattle passes on the validity of the shares for Scribe, and Latham & Watkins LLP is counsel to the underwriters. Deloitte & Touche LLP audited the 2024 and 2025 financial statements.
The business and its lead asset
Scribe calls itself a clinical-stage biotechnology company engineering in vivo CRISPR technologies, aimed at cardiovascular and metabolic disease. Its initial programs target drivers of atherosclerotic cardiovascular disease, or ASCVD. The lead candidate, STX-1150, uses the company's ELXR epigenetic silencing technology and is designed to lower LDL-C without permanent genetic changes.
The company says it has regulatory clearance from Australia's Therapeutic Goods Administration and has started a first-in-human trial of STX-1150 in Australia, in up to 64 adults with elevated LDL-C and increased ASCVD risk. It anticipates reporting initial safety, tolerability and LDL-C-lowering data from that trial in the first half of 2027. The evidence so far is preclinical: in non-human primates, a single dose of a prototype STX-1150 was generally well tolerated and produced LDL-C reduction of greater than 50% sustained for two years, according to the company. No human efficacy data are reported.
Scribe's collaborations include a 2023 license with Sanofi, using its XE technology for in vivo CRISPR therapies for sickle cell disease and other genetic diseases, and a collaboration with Eli Lilly in neurological and neuromuscular disorders. The company says it has received over $180 million in upfront, milestone and expense reimbursement payments from collaborations to date. It also cites up to about $25.7 million in funding from the California Institute for Regenerative Medicine for its STX-1200 and STX-1400 programs.
The company was founded in 2017 and says it has raised about $150.0 million in equity since then, with only one dilutive financing in the past four years.
Going concern and cash
Management and the independent auditor have concluded there is substantial doubt about Scribe's ability to continue as a going concern. The filing says the company had $49.7 million in cash, cash equivalents and marketable securities at March 31, 2026, against $40.5 million of outstanding indebtedness. It recorded a net loss of $17.4 million for the three months ended that date, and its accumulated deficit reached $175.1 million.
Based on resources on hand at March 31, 2026, the filing says Scribe will not have enough cash to support current operations for at least twelve months.
The Lilly note
The company had an 8% convertible promissory note issued to Eli Lilly and Company, with $30.0 million of principal. The note reached maturity on May 11, 2026. Principal and accrued interest of about $7.8 million converted automatically into approximately 6.25 million shares of common stock, and no cash was paid. The filing says the note was fully extinguished.
The S-1 puts outstanding indebtedness at $40.5 million at March 31, 2026, before the Lilly note was extinguished in May.
What the filing leaves blank
The net proceeds from the offering are left blank in this filing, as is the number of shares. A reader cannot judge the dilution or the cash the offering would add from the S-1 alone.