$SCTX

Scribe Therapeutics, Inc.

CIK:0001853921|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Collaboration revenue	$ 1,918	$ 4,898	$ 4,151	$ 22,023
Operating expenses:
Research and development	8,823	13,884	20,128	29,876
General and administrative	2,490	2,641	5,844	9,332
Total operating expenses	11,313	16,525	25,972	39,208
Loss from operations	(9,395)	(11,627)	(21,821)	(17,185)
Interest income and other income (expense), net	383	880	898	1,944
Interest expense	(276)	(598)	(875)	(1,197)
Change in fair value of Convertible Note	3,023	730	(1,585)	2,083
Net loss before provision for income taxes	(6,265)	(10,615)	(23,383)	(14,355)
(Provision for)/ benefit from income tax	(212)	712	(441)	1,027
Net loss	(6,477)	(9,903)	(23,824)	(13,328)
Other comprehensive loss:
Net unrealized loss on available-for-sale investments	(2)	(36)	(37)	(93)
Net comprehensive loss	$ (6,479)	$ (9,939)	$ (23,861)	$ (13,421)
Net loss per share attributable to common stockholders, basic	$ (2.62)	$ (4.08)	$ (9.65)	$ (5.5)
Net loss per share attributable to common stockholders, diluted	$ (2.62)	$ (4.08)	$ (9.65)	$ (5.5)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	2,475,898	2,429,130	2,468,343	2,423,315
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	2,475,898	2,429,130	2,468,343	2,423,315

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net Income (Loss)	$ (23,824)	$ (13,328)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense	1,277	1,468
Loss on disposal of equipment	4	5
Stock-based compensation expense	2,197	1,347
Interest expense	875	1,197
Change in fair value of convertible note	1,585	(2,083)
Net amortization/accretion on investment securities	210	474
Amortization of right-of-use asset	281	230
Expensed deferred offering costs	0	3,583
Cash received from government grants	3,830	0
Changes in operating assets and liabilities:
Receivables from collaboration partners	5,985	292
Prepaid expenses and other current assets	890	445
Other long-term assets	(520)	(209)
Accounts payable	(2,139)	1,193
Deferred revenue	(1,850)	(11,880)
Accrued license fees	1,725	(750)
Accruals and other current liabilities	(3,236)	(479)
Operating lease liabilities	(616)	(531)
Other non-current liabilities	434	(1,226)
Net cash used in operating activities	(12,892)	(20,252)
Cash flows from investing activities
Purchases of property and equipment	(27)	(930)
Maturities of investments	42,339	56,231
Purchases of investments	(4,842)	(31,722)
Net cash provided by investing activities	37,470	23,579
Cash flows from financing activities
Proceeds from exercise of stock options	238	51
Payments of deferred offering costs	(2,026)	0
Net cash (used in) / provided by financing activities	(1,788)	51
Net change in cash, cash equivalents and restricted cash	22,790	3,378
Cash, cash equivalents and restricted cash, at the beginning of the period	13,471	13,277
Cash, cash equivalents and restricted cash, at the end of the period	36,261	16,655
Supplemental disclosure of non-cash investing and financing activities:
Unpaid fixed asset acquisitions	0	306
Deferred offering costs related to initial public offering included in accounts payable and accrued expenses and other current liabilities	$ 975	$ 0

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 35,586	$ 12,796
Short-term investments	7,423	45,167
Receivable from collaboration partners	1,107	7,092
Prepaid expenses and other current assets	989	1,879
Total current assets	45,105	66,934
Operating lease right-of-use asset	2,782	3,064
Property and equipment, net	5,755	7,008
Restricted cash	675	675
Other long-term assets	3,610	538
Total assets	57,927	78,219
Current liabilities:
Accounts payable	2,771	4,566
Accrued expenses and other current liabilities	7,183	6,405
Accrued license fees	2,100	375
Deferred revenue, current	27,475	21,087
Convertible Note	37,799	35,339
Operating lease liabilities, current portion	1,369	1,285
Total current liabilities	78,697	69,057
Operating lease liabilities, net of current portion	4,102	4,804
Other non-current liabilities	7,920	7,485
Deferred revenue, non-current	11,698	19,936
Total liabilities	102,417	101,282
Redeemable convertible preferred stock, $0.001 par value; 29,182,118 shares authorized, and 4,915,299 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $120,705 as of June 30, 2026 and December 31, 2025	120,356	120,356
Common stock, $0.001 par value, 52,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 2,485,234 and 2,451,167 shares issued and outstanding as of June 30, 2026 and December 31, 2025	14	14
Additional paid-in capital	16,673	14,239
Accumulated deficit	(181,531)	(157,707)
Accumulated other comprehensive income	(2)	35
Total stockholders' deficit	(164,846)	(143,419)
Total liabilities, preferred stock, and stockholders' deficit	57,927	78,219
Redeemable Convertible Preferred Stock
Current liabilities:
Redeemable convertible preferred stock, $0.001 par value; 29,182,118 shares authorized, and 4,915,299 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; liquidation preference of $120,705 as of June 30, 2026 and December 31, 2025	$ 120,356	$ 120,356