Eli Lilly-backed Scribe Therapeutics climbs 67% after raising $128.7 million in an upsized IPO

Scribe Therapeutics, a US-based clinical-stage gene therapy developer backed by Eli Lilly, surged 67% on its Nasdaq debut after raising $128.7 million in an upsized IPO. The company sold 8.58 million shares at $15 each and opened trading at $25, giving it a market value of about $440.3 million. Sanofi affiliates agreed to purchase about $7.5 million in shares via a concurrent private placement.