Scribe Therapeutics — Third Quarter 2026 Earnings Summary

Financial Performance:

• Cash, cash equivalents, and marketable securities totaled $174.2 million as of September 30, 2026, an increase from $43.0 million as of June 30, 2026, driven by approximately $140.2 million in net proceeds from the July 2026 IPO and concurrent private placement.
• Collaboration revenue for the three months ended September 30, 2026, was $1.6 million, down from $1.9 million in the prior quarter, primarily due to lower reimbursable R&D activities under the Eli Lilly collaboration.
• Research and development expenses were $8.3 million for the three months ended September 30, 2026, compared to $8.8 million in the prior quarter, attributed to lower employee-related and external R&D expenses and CIRM grant funding offsets.
• General and administrative expenses increased to $4.2 million for the three months ended September 30, 2026, from $2.5 million in the prior quarter, driven by higher stock-based compensation and costs associated with operating as a public company.
• Net loss for the three months ended September 30, 2026, was $9.9 million ($0.68 per share), compared to a net loss of $6.5 million in the prior quarter.
• For the nine months ended September 30, 2026, total operating expenses were $38.5 million, with a net loss of $33.7 million.
• Total assets were $187.9 million as of September 30, 2026, compared to $78.2 million as of December 31, 2025; total stockholders' equity turned positive at $125.2 million, compared to a deficit of $143.4 million at year-end 2025.

Guidance and Future Outlook:

• The Company expects its current cash position to fund operating expenses and capital requirements into the first half of 2029.
• Initial clinical data for the first-in-human Phase 1 trial of STX-1150 is anticipated in the first half of 2027.
• The Phase 1 trial for STX-1150 will evaluate safety, tolerability, pharmacokinetics, and pharmacodynamics in adults with elevated LDL-C and increased ASCVD risk.

Business Segments and Product Lines:

• STX-1150: An in vivo epigenetic silencing therapy targeting PCSK9 for LDL-C lowering is in an ongoing Phase 1 clinical trial. Preclinical data in non-human primates showed durable LDL-C reductions of >50% for two years after a single dose, with re-dosing enabling progressively greater lowering.
• STX-1200: An in vivo gene editing therapy targeting LPA for Lp(a) lowering; preclinical studies demonstrated >95% Lp(a) reduction in non-human primates.
• STX-1400: Mentioned as a program funded by the capital raise, though no specific data or status details were provided in the release.
• ELXR Technology: New data presented at the ESGCT Congress demonstrated "sequential proofreading," reducing unintended DNA methylation by 10-fold and enhancing potency by at least 4-fold.
• XE Technology: Engineered CRISPR-CasX technology showed >100-fold improvement in editing activity compared to natural CasX and demonstrated saturating editing across two genomic targets in NHP liver with no detectable off-target editing in primary human liver cells.

Market and Competitive Landscape:

• Current LDL-C therapies face limitations with 50% to 70% of patients discontinuing treatment within one year; STX-1150 aims to shift management from chronic treatment to long-term prevention.
• The Company positions STX-1150 to mimic the protective cardiovascular profile of individuals with naturally occurring PCSK9 loss-of-function variants, who exhibit 28% lower mean LDL-C levels and up to 88% lower coronary heart disease risk.
• XE technology is positioned to offer a broader therapeutic window and higher potency at lower doses compared to preclinical data from Cas9-based therapies currently in clinical testing.

Risks and Challenges:

• The press release includes standard forward-looking statement disclaimers noting that actual results may differ materially due to risks and uncertainties, including clinical trial design, enrollment, conduct, timing, and results, as well as regulatory and commercial prospects.
• Specific risks are referenced as being detailed in the Company's filings with the SEC, including the final prospectus filed pursuant to Rule 424(b)(4).

Management Commentary and Tone:

• Benjamin Oakes, Ph.D., Co-founder and CEO, described the period as one of "continued execution," highlighting the successful IPO and expanded Sanofi collaboration as milestones that strengthen the Company's foundation.
• Management expressed confidence in translating technology potential into meaningful medicines for patients suffering from cardiometabolic diseases.

Other Key Points:

• The Company completed an upsized IPO on July 24, 2026, with common stock trading on the Nasdaq Global Market under the ticker "SCTX," pricing at the high end of the range.
• Aggregate gross proceeds from the IPO, full exercise of the underwriters' option, and a concurrent private placement to Sanofi totaled $155.5 million.
• The strategic collaboration with Sanofi was expanded to include access to Scribe's ELXR epigenetic silencing technology in addition to XE gene-editing technology, with an extended nomination period for target selection.
• A manuscript detailing advances in XE technology has been submitted to bioRxiv.
• The Company welcomed leading public healthcare investors to its shareholder base and broadened analyst coverage following the IPO.