Scribe extends run of strong biotech IPO debuts: Public Equity Report

The pricing and aftermarket performance of Scribe’s upsized IPO is an encouraging sign for the growing roster of biotechs behind it in the queue, hoping to price within the coming weeks.

Cardiovascular-focused CRISPR gene editing company Scribe Therapeutics Inc. (NASDAQ:SCTX) rose 44% Friday, its first day of trading after pricing an upsized offering at the top of its proposed range late Thursday. The company sold 8.6 million shares at $15 to raise $128.7 million; it had aimed for 7.2 million shares at $13-$15. The deal valued Scribe at about $264.2 million, and Friday’s gains lifted its market cap to about $380 million...