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Scholar Rock Holding Corporation (SRRK) is a biotechnology company dedicated to pioneering a novel class of biologic therapies known as 'niche modulators'. These therapies selectively target the activation of growth factors within the disease microenvironment, offering a groundbreaking approach to treating serious medical conditions. Scholar Rock's initial proprietary and partnered drug discovery programs focus on specific growth factors, particularly members of the TGF-beta superfamily, which are critical in regulating cell growth and differentiation. These growth factors are notably present in the microenvironments of significant diseases like fibrosis, musculoskeletal disorders, and autoimmune diseases.
The company’s innovative therapeutic strategy stems from the foundational scientific discoveries of its founders, Professors Timothy Springer, PhD, and Leonard Zon, MD, from Children's Hospital Boston and Harvard Medical School. These discoveries illuminate the molecular mechanisms of growth factor activation, empowering Scholar Rock to advance its ground-breaking treatments.
Scholar Rock is backed by a consortium of top-tier life sciences investors, including Polaris Partners and Arch Venture Partners. Its flagship product candidate, Apitegroma, is a selective, fully human, monoclonal antibody that inhibits the activation of the growth factor myostatin in skeletal muscle. This innovative mechanism holds promise for treating neuromuscular disorders. Another key product in the company's pipeline is SRK-181, which targets the activation of latent transforming growth factor beta-1 (TGFβ1) and is being developed to treat cancers that are resistant to existing anti-PD-(L)1 antibody therapies.
With its operations based in the United States, Scholar Rock continues to make significant strides in the biopharmaceutical industry, pushing the envelope of medical science and offering hope for effective treatments against some of the most challenging diseases.
Scholar Rock (NASDAQ: SRRK) has granted inducement equity awards to twelve new employees, totaling 208,800 shares of common stock. The awards consist of 119,312 shares as stock options with an exercise price of $45.48 and 89,488 shares as restricted stock units. The stock options will vest 25% after one year, with the remaining 75% vesting in 12 quarterly installments. The restricted stock units will vest in four equal annual installments. These grants were made under the Company's 2022 Inducement Equity Plan, specifically designed for new hires as per Nasdaq Listing Rule 5635(c)(4).
Scholar Rock (NASDAQ: SRRK) has granted inducement equity awards to four new employees, including stock options for 57,429 shares and restricted stock units for 43,071 shares. The stock options, priced at $28.15 per share, will vest 25% after one year and the remaining 75% in quarterly installments. The restricted stock units will vest in four equal annual installments. These grants, made under the company's 2022 Inducement Equity Plan, are designed to attract new talent to the late-stage biopharmaceutical company, which focuses on treatments for spinal muscular atrophy and cardiometabolic disorders.
Scholar Rock (SRRK) reported positive Phase 3 SAPPHIRE trial results for apitegromab in Spinal Muscular Atrophy (SMA), achieving its primary endpoint with statistically significant motor function improvement. The company plans to submit BLA and MAA applications in Q1 2025. The Phase 2 EMBRAZE obesity trial enrollment is complete with data expected in Q2 2025. Financial highlights include completion of a $345M public offering and Q3 2024 net loss of $64.5M ($0.66/share). Cash position stands at $139.1M, with pro forma balance of $463.5M including October offering, extending runway into Q4 2026.
Scholar Rock (NASDAQ: SRRK) announced new preclinical data for SRK-439, showing significant lean mass increase and enhanced fat mass loss when combined with metformin. In young mice, the combination treatment demonstrated a 31.6% increase in lean mass compared to 15.1% in controls, while older mice showed a 10.2% increase versus 0.2% in controls. The study also revealed lower fat mass gain in young mice receiving the combination treatment (68.2% increase) compared to metformin alone (114% increase). These results support the potential of selective myostatin inhibition in improving body composition for obesity treatment. The company's Phase 2 EMBRAZE trial is on track for readout in Q2 2025.
Scholar Rock (NASDAQ: SRRK) announced it will host a conference call to discuss third quarter 2024 financial results and provide a business update on Tuesday, November 12, 2024, at 8:15am ET. The company, which focuses on developing treatments for spinal muscular atrophy, cardiometabolic disorders, and other diseases involving protein growth factors, will make the audio webcast available on their investor relations website. Participants can register online to join via telephone or web.
Scholar Rock (NASDAQ: SRRK), a late-stage biopharmaceutical company focusing on treatments for spinal muscular atrophy, cardiometabolic disorders, and diseases involving protein growth factors, has announced its participation in three upcoming investor conferences. The company will present at the Truist Securities BioPharma Symposium on November 7, the Jefferies London Healthcare Conference on November 20, and the Piper Sandler Healthcare Conference on December 4. Live webcasts will be available on Scholar Rock's website, with replays accessible for approximately 90 days.
Scholar Rock (NASDAQ: SRRK) announced it will present new data from the Phase 1 DRAGON trial of SRK-181, an investigational selective inhibitor of latent TGFβ1 activation, at the SITC 39th Annual Meeting. The presentation will include updated safety, efficacy, and biomarker results for SRK-181 in anti-PD-1 resistant patients with advanced solid tumors from the expansion phase (Part B) of the trial. The company reports observing durable responses in heavily pretreated patients, with some patients remaining on therapy after the trial completed enrollment last year.
Scholar Rock Holding (Nasdaq: SRRK) announced on October 16, 2024, that the underwriters of its previously announced public offering exercised their option to purchase an additional 1,592,920 shares at $28.25 per share. This resulted in additional gross proceeds of approximately $45 million. The closing of this additional purchase occurred on October 18, 2024.
The original offering, which closed on October 10, 2024, included common stock and pre-funded warrants. J.P. Morgan Securities , Jefferies, and Piper Sandler & Co. acted as joint book-running managers, while BMO Capital Markets Corp., Wedbush Securities Inc., and Raymond James & Associates, Inc. served as co-managers for the offering.
An automatically effective shelf registration statement on Form S-3 was filed with the SEC on October 7, 2024. The final prospectus supplement and accompanying prospectus were filed on October 9, 2023.
Scholar Rock (NASDAQ: SRRK), a late-stage biopharmaceutical company, has announced the granting of inducement equity awards to two newly hired employees. The awards include inducement stock options to purchase 13,429 shares of common stock and inducement restricted stock units covering 10,071 shares, totaling 23,500 shares. These awards are subject to the terms and conditions of the Company's 2022 Inducement Equity Plan.
The inducement stock options have an exercise price of $28.52, equal to the closing price of Scholar Rock's common stock on October 14, 2024. They will vest 25% after one year, with the remaining 75% vesting in 12 quarterly installments. The restricted stock units will vest in four equal annual installments. All vesting is contingent on continued employment with the Company.
Scholar Rock Holding (Nasdaq: SRRK) has announced the pricing of an upsized public offering of 10,265,488 shares of common stock at $28.25 per share and 353,983 pre-funded warrants at $28.2499 per warrant. The gross proceeds are expected to be approximately $300 million. The offering is set to close on October 10, 2024, with underwriters having a 30-day option to purchase up to an additional 1,592,920 shares.
The company plans to use the net proceeds to support the commercialization of apitegromab, advance ongoing and future clinical programs, develop its technology platform, and for working capital. J.P. Morgan Securities , Jefferies, and Piper Sandler & Co. are acting as joint book-running managers for the offering.
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