The stock price of Scribe Therapeutics Inc., a clinical-stage developer focused on gene therapy for heart disease, surged 44.33% on Friday after raising $128.7 million through an expanded IPO. According to the documents, Sanofi's affiliated companies have agreed to buy shares of about 7.5 million US dollars at the IPO price as part of a simultaneous private placement. Eli Lilly, one of Scribe's current supporters, expressed interest in buying more shares in the IPO to hold up to 11% of Scribe's shares after the offering and distribution.

The stock price of Scribe Therapeutics Inc., a clinical-stage developer focused on gene therapy for heart disease, surged 44.33% on Friday after raising $128.7 million through an expanded IPO. According to the documents, Sanofi's affiliated companies have agreed to buy shares of about 7.5 million US dollars at the IPO price as part of a simultaneous private placement. Eli Lilly, one of Scribe's current supporters, expressed interest in buying more shares in the IPO to hold up to 11% of Scribe's shares after the offering and distribution.