Scribe Therapeutics surges in New York debut after upsized $128.7 million IPO
SCTX•Bookrunners
Leerink Partners, Goldman Sachs, Guggenheim Securities and Wells Fargo Securities acted as joint book-running managers for the offering.
Upsized IPO raised $128.7 million
Alameda, California-based SCTX sold about 8.6 million shares in an upsized IPO to raise $128.7 million.
The company had earlier marketed 7.2 million shares at between $13 and $15 apiece.
Lead program targets LDL cholesterol
SCTX is building a portfolio of genetic medicines for cardiometabolic diseases.
Its lead candidate, STX-1150, is being developed to lower low-density lipoprotein cholesterol levels, a key driver of cardiovascular risk.
Every 40 seconds, someone in the U.S. suffers a heart attack, and each year, heart disease costs the nation more than $400 billion, according to the American Heart Association.
Scribe Therapeutics shares surge on New York debut
Gene-editing startup Scribe Therapeutics' SCTX.O shares surged as much as 69.9% in their New York debut.
The stock opened at apiece versus the IPO price.
