Scribe Therapeutics — Second Quarter 2026 Earnings Summary

Financial Performance

• Collaboration revenue was $1.9 million for the three months ended June 30, 2026, a decrease from $4.9 million in the same period of 2025, primarily due to lower reimbursable R&D activities and reduced revenue recognition.
• Research and development expenses were $8.8 million for the quarter ended June 30, 2026, compared to $13.9 million in the prior year period, driven by lower personnel costs and reduced preclinical spending, partially offset by increased costs for the STX-1150 Phase 1 trial.
• General and administrative expenses were $2.5 million for the second quarter of 2026, down from $2.6 million in the second quarter of 2025, attributed to lower administrative costs.
• Net loss was $6.5 million ($2.62 per basic and diluted share) for the three months ended June 30, 2026, compared to a net loss of $9.9 million ($4.08 per basic and diluted share) in the same period of 2025.
• Cash, cash equivalents, and marketable securities totaled $43.0 million as of June 30, 2026, down from $58.0 million as of December 31, 2025.
• Total assets were $57.9 million as of June 30, 2026, compared to $78.2 million as of December 31, 2025.
• Total liabilities were $102.4 million as of June 30, 2026, compared to $101.3 million as of December 31, 2025.
• Total stockholders' deficit was $164.8 million as of June 30, 2026, compared to $143.4 million as of December 31, 2025.

Guidance and Future Outlook

• Initial clinical data from the single ascending dose (SAD) portion of the STX-1150 Phase 1 trial is anticipated in the first half of 2027.
• STX-1200 and STX-1400 are targeted for clinical entry as early as 2027.
• The Company projects that existing cash, cash equivalents, and investments, combined with approximately $140.6 million in net proceeds from the July 2026 IPO and concurrent private placement, will fund operating expenses and capital requirements into the first half of 2029.

Business Segments and Product Lines

• Initiated the first-in-human Phase 1 clinical trial for STX-1150, an epigenetic silencing therapy for LDL-C lowering, in Australia in mid-2026.
• STX-1150 utilizes the ELXR technology to repress PCSK9 without permanently altering DNA; preclinical non-human primate data showed up to 90% PCSK9 silencing and up to 68% LDL-C reduction from a single dose.
• Received over $25 million in combined CIRM grants to advance STX-1200 (targeting Lp(a)) and STX-1400 (targeting triglycerides).
• Awarded $12.7 million to advance STX-1200, which targets LPA using XE technology; preclinical surrogates achieved greater than 95% Lp(a) reduction in non-human primates.
• Awarded $13.0 million to advance STX-1400, which targets APOC3 using XE technology; preclinical surrogates achieved greater than 75% on-target APOC3 editing in non-human primates.
• Published updated findings in bioRxiv regarding the ELXR platform, demonstrating up to 10x reduction in off-targets and up to 4x increase in on-target activity.

Market and Competitive Landscape

• Current LDL-C therapies face adherence challenges, with 50% to 70% of patients discontinuing treatment within one year.
• STX-1150 is positioned to mimic the cardioprotective effects of naturally occurring PCSK9 loss-of-function variants, which are associated with a 28% lower mean LDL-C and up to 88% lower coronary heart disease risk.
• The Company aims to shift the heart disease treatment paradigm from chronic symptom intervention to durable disease prevention and lifespan extension.

Risks and Challenges

• Forward-looking statements regarding strategy, clinical trial timing, data results, and cash runway are subject to risks and uncertainties that could cause actual results to differ materially.
• Specific risks include those detailed in the Company's filings with the U.S. Securities and Exchange Commission, including the final prospectus filed pursuant to Rule 424(b)(4).

Management Commentary and Tone

• CEO Benjamin Oakes, Ph.D., described the second quarter as a "transformational period," highlighting the advancement of STX-1150 into the clinic, CIRM grant support, and the successful completion of the IPO.
• Management stated the Company is positioned to execute across a "broadly differentiated portfolio" of CRISPR genetic medicines targeting the three major lipid drivers of atherosclerotic cardiovascular disease: LDL-C, Lp(a), and triglycerides.
• The Company aims to democratize access to the cardioprotective effects of beneficial human genetics through its purpose-built technologies.

Other Key Points

• Completed an upsized initial public offering and concurrent private placement to Sanofi, generating approximately $155.5 million in aggregate gross proceeds.
• Common stock began trading on the Nasdaq Global Market on July 24, 2026, under the ticker symbol "SCTX," priced at $15.00 per share.
• The Company has formed strategic collaborations with Sanofi and Eli Lilly to broaden and accelerate the impact of its engineered CRISPR technologies.
• The Company was co-founded by Nobel Prize winner Jennifer Doudna.