Scribe starts Phase 1 trial for cholesterol drug STX-1150

Scribe Therapeutics Inc. (NASDAQ: SCTX) reported second-quarter 2026 financial results and provided pipeline updates, including the start of a first-in-human Phase 1 trial of its LDL-C program STX-1150 in Australia and receipt of more than $25 million in CIRM grants to advance two additional cardiometabolic programs toward clinical entry. The company also detailed its July 2026 IPO and a concurrent private placement to Sanofi, which together generated about $155.5 million in gross proceeds, extending its expected funding runway into the first half of 2029.

Scribe Therapeutics News: Key Takeaways

• Initiated a first-in-human Phase 1 clinical trial in Australia for STX-1150, an in vivo epigenetic silencing therapy targeting PCSK9 for LDL-C lowering; initial clinical data from the single ascending dose portion are expected in the first half of 2027.
• Awarded about $25.7 million in combined non-dilutive grants from the California Institute for Regenerative Medicine: $12.7 million for STX-1200 (Lp(a) lowering) and $13.0 million for STX-1400 (triglyceride lowering), with each program advancing toward clinical entry as early as 2027.
• Completed an upsized IPO and a concurrent private placement to Sanofi, raising approximately $155.5 million in aggregate gross proceeds (before underwriting discounts, commissions, and offering expenses); common stock began trading on Nasdaq on July 24, 2026 under ticker SCTX.
• Cash, cash equivalents, and marketable securities were $43.0 million as of June 30, 2026; the company said this plus approximately $140.6 million of net proceeds from the July 2026 financing provides funding into the first half of 2029.
• Q2 2026 collaboration revenue was $1.9 million (vs. $4.9 million in Q2 2025); net loss was $6.5 million, or $2.62 per share (vs. a net loss of $9.9 million, or $4.08 per share, in Q2 2025).

Scribe Therapeutics Q2 2026: Key Financials

What happened?

The company said it initiated a first-in-human Phase 1 clinical trial of STX-1150 in Australia in mid-2026. The study is intended to evaluate safety, tolerability, and efficacy in adults with elevated LDL-C and increased risk of atherosclerotic cardiovascular disease. STX-1150 is designed as a liver-targeted, in vivo CRISPR-based epigenetic silencing therapy that represses PCSK9 without permanently altering the underlying DNA sequence.

Scribe also highlighted preclinical data it presented at the European Atherosclerosis Society Congress. In non-human primates, the company said a single administration of an STX-1150 ELXR prototype demonstrated PCSK9 silencing of up to 90% and LDL-C reductions of up to 68%, with a 0.75 mg/kg dose producing LDL-C reductions greater than 50% sustained for two years and liver enzyme profiles comparable to saline controls. The company also reported that a toxicology study in non-human primates showed no adverse clinical observations.

Separately, Scribe reported receiving approximately $25.7 million in combined CIRM grants to advance two additional programs toward clinical entry as early as 2027: STX-1200 (targets LPA for Lp(a) lowering using the company's X-Editor technology) and STX-1400 (targets APOC3 for triglyceride lowering using X-Editor). The company cited preclinical study results showing STX-1200 surrogates achieved greater than 95% Lp(a) reduction in non-human primates and STX-1400 surrogates achieved greater than 75% on-target APOC3 editing in non-human primates.

On financing, Scribe said it upsized its initial public offering, priced at $15.00 per share, and completed a concurrent private placement to Sanofi at the IPO price. The company reported approximately $155.5 million in aggregate gross proceeds from the IPO, the full exercise of the underwriters' option, and the private placement (before underwriting discounts, commissions, and offering expenses). As of June 30, 2026, Scribe had $43.0 million in cash, cash equivalents, and marketable securities, and it said the additional approximately $140.6 million in net proceeds from the July 2026 transactions extends its operating runway into the first half of 2029.

Company Commentary

“The second quarter and the weeks immediately following represented a transformational period for Scribe,” said Benjamin Oakes, Ph.D., co-founder and Chief Executive Officer of Scribe Therapeutics. “We advanced our lead silencing asset STX-1150 into the clinic, secured significant grant support from CIRM to develop our next two cardiometabolic assets, and successfully completed our initial public offering. These achievements position us to execute across a broadly differentiated portfolio of CRISPR genetic medicines designed to address the three major lipid drivers of atherosclerotic cardiovascular disease: LDL-C, Lp(a), and triglycerides. Our purpose-built technologies are uniquely poised to democratize access to the cardioprotective effects of beneficial human genetics. Guided by nature's blueprint for improved cardiovascular health, our aim is to shift the treatment paradigm of heart disease from chronic intervention of symptoms toward durable disease prevention and lifespan extension.”

Why this matters for investors

Starting a first-in-human Phase 1 trial moves Scribe's lead program, STX-1150, from preclinical development into the clinic, with an initial readout expected in the first half of 2027. The announcement also indicates additional non-dilutive funding for earlier-stage programs, which could support broader pipeline progress without relying exclusively on equity financing.

From a balance-sheet perspective, the company's July 2026 IPO and concurrent private placement to Sanofi materially increased capital available for operations. Management said the combination of its June 30, 2026 cash balance and the July 2026 net proceeds provides funding into the first half of 2029, which may reduce near-term financing risk as the clinical program advances.