Scribe Therapeutics Prices Upsized $128.7M IPO at $15/Share, Adds Sanofi Placement
Tom Rudovsky · Reported by GlobeNewswire
Sentiment
Positive
Importance
8
Price
0
Mkt Cap
0
52W Low
0
52W High
0
52W Position
Off High
Rel. Volume
Market data snapshot near publication time
Summary
Scribe Therapeutics priced its upsized IPO at $15.00 per share, the high end of the range, raising $128.7 million from 8.58 million shares. Sanofi is buying 500,000 shares in a concurrent private placement at the same price, adding $7.5 million. The stock begins trading July 24 on Nasdaq under 'SCTX,' and the offering is expected to close on July 27. The upsizing and high-end pricing signal robust institutional interest and strategic partner confidence for the clinical-stage CRISPR biotech advancing a lead candidate for cardiometabolic disease.
This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.