Scribe Therapeutics raised $128.7 million in an upsized initial public offering and watched its stock rocket 67% on the first day of trading. The strong debut on the Nasdaq signals that investors are once again betting on CRISPR-based biotech companies.
Why the IPO was upsized
The company originally planned to raise less but bumped up the offering size after seeing demand. That appetite carried straight into the open. Shares priced at $16 each, the top end of the range, and closed Wednesday at $26.66. The 67% pop handed early buyers a tidy paper gain.
Renewed interest in CRISPR
The last few years have been tough for gene-editing startups. Safety concerns, regulatory hurdles, and a general biotech downturn made investors cautious. Scribe’s performance suggests that mood is shifting. The company develops CRISPR-based therapies for genetic diseases, a field that has produced only a handful of approved treatments so far. But investors appear willing to bet on the next wave of technology.
What Scribe brings to the table
Founded by CRISPR pioneer Jennifer Doudna and others, Scribe focuses on a next-generation CRISPR system called CasX. The enzyme is smaller than the more common Cas9, which could make it easier to deliver into cells. The company has programs in sickle cell disease, oncology, and other areas, though none have reached the clinic yet. The IPO cash will help fund those early-stage studies.
Now the real work begins. Scribe will need to move its pipeline from the lab into human trials, a step where many biotechs stumble. The strong IPO gives it a longer runway, but investors will be watching for clinical data. The next big test: filing an investigational new drug application with regulators for its lead program.
