Scribe Therapeutics Inc. (Nasdaq: SCTX) reported its financial results for the quarter ended June 30, 2026, and provided an update on its clinical pipeline and corporate milestones. The company announced that it has initiated the first-in-human Phase 1 clinical trial of STX-1150, a novel therapy designed to lower LDL cholesterol.
STX-1150 utilizes the company's Epigenetic Long-term X Repressor (ELXR) technology. This liver-targeted therapy is designed to repress the PCSK9 gene, a validated target for cholesterol lowering, without permanently altering the underlying DNA sequence. The Phase 1 study, initiated in mid-2026, will evaluate the safety, tolerability, and efficacy of STX-1150 in adults with elevated LDL-C and increased risk of atherosclerotic cardiovascular disease. The company presented late-breaking data at the European Atherosclerosis Society Congress, showing that a single administration of an STX-1150 prototype in non-human primates resulted in PCSK9 silencing of up to 90% and LDL-C reductions of up to 68%. A therapeutically relevant dose of 0.75 mg/kg produced durable LDL-C reductions of greater than 50% sustained for two years.
In addition to its lead program, Scribe Therapeutics was awarded approximately $25.7 million in combined non-dilutive grants from the California Institute for Regenerative Medicine (CIRM). These funds are designated to advance STX-1200, a program targeting lipoprotein(a), and STX-1400, a program targeting triglycerides, toward clinical entry as early as 2027.
On the corporate side, Scribe Therapeutics completed an upsized initial public offering. The company priced its common stock at $15.00 per share, the high end of the proposed range, and completed a concurrent private placement to Sanofi. Including the exercise of the underwriters' option, the offering generated approximately $155.5 million in aggregate gross proceeds. As of June 30, 2026, the company held $43.0 million in cash, cash equivalents, and marketable securities. Combined with the net proceeds from the IPO and private placement, the company reported sufficient capital to fund its operating expenses and capital expenditures into the first half of 2029.
Financial results for the second quarter of 2026 included collaboration revenue of $1.9 million and a net loss of $6.5 million, or $2.62 per share. Research and development expenses for the quarter were $8.8 million, a decrease compared to the prior year period, primarily due to lower personnel-related costs and reduced spending on preclinical research programs, partially offset by increased expenditures supporting the STX-1150 Phase 1 trial.
