Scribe Therapeutics, backed by Eli Lilly, soared over 44% on its first day of IPO in the US

Glonghui July 25｜Scribe Therapeutics Inc., a clinical-stage developer focused on gene therapies for heart disease, saw its share price soar by 44.33% at Friday’s close after raising $128.7 million through an upsized IPO. Documents show that an affiliate of a certain exchange has agreed to purchase approximately $7.5 million worth of shares at the IPO price as part of a concurrent private placement. Existing supporter Eli Lilly has expressed interest in acquiring additional shares during the IPO, aiming to hold up to 11% of Scribe after the offering and placement.