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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, a clinical-stage biopharmaceutical company, has announced the granting of inducement equity awards totaling 83,125 shares of common stock to five newly hired employees. This includes stock options for 47,500 shares and restricted stock units (RSUs) for 35,625 shares. The inducement awards comply with the 2022 Inducement Equity Plan, adopted on June 16, 2022. The options have an exercise price of $8.04, matching the closing stock price on April 10, 2023. The vesting schedule dictates that 25% of the options will vest one year after each employee's start date, with 75% vesting quarterly thereafter. RSUs will vest in four equal annual installments, contingent on continued service. This move is part of Scholar Rock's strategy to attract talent critical for developing its innovative treatments targeting serious diseases.
Scholar Rock (NASDAQ: SRRK), a clinical-stage biopharmaceutical company, has appointed Richard Brudnick as an independent director on its Board. With over 30 years of experience, Brudnick's background includes leadership roles in corporate development at various biotech firms, including Prime Medicine and Bioverativ. His vast experience is expected to enhance Scholar Rock’s strategic direction as the company advances its pipeline targeting serious diseases like neuromuscular disorders and cancer. Brudnick expressed excitement about joining during this critical phase for Scholar Rock, which focuses on innovative therapeutics that leverage its proprietary platform for antibody development.
Scholar Rock, a clinical-stage biopharmaceutical company (NASDAQ: SRRK), announced the granting of inducement equity awards to a newly hired employee. The aggregate of 26,250 shares includes stock options to purchase 15,000 shares and restricted stock units (RSUs) for 11,250 shares. The stock options have an exercise price of $9.52, equivalent to the closing price on March 13, 2023. These inducement awards are part of the Company’s 2022 Inducement Equity Plan adopted on June 16, 2022, to attract new talent. The RSUs will vest over four years, while the options will vest in quarterly installments following the first anniversary of employment.
Scholar Rock (NASDAQ: SRRK) reported its financial results for 2022, noting a net loss of $134.5 million or $2.26 per share, compared to a loss of $131.8 million or $3.59 per share in 2021. Revenue increased to $33.2 million from $18.8 million, mainly from a now-ended collaboration with Gilead. The company is on track to complete the pivotal Phase 3 SAPPHIRE trial for apitegromab in 2023, with data readout expected in 2024. Cash reserves stand at approximately $315 million, projected to fund operations into 2025. New Chief Commercial Officer, Tracey M. Sacco, has been appointed to lead commercial strategy.
Scholar Rock (NASDAQ: SRRK) announced the forthcoming presentation of results from its Phase 2 TOPAZ trial at the Muscular Dystrophy Association Conference on March 22, 2023. The presentation will highlight patient-reported outcomes after 24 months of treatment with apitegromab, aimed at spinal muscular atrophy (SMA). Key data include quality-of-life measures indicating improved motor function in nonambulatory SMA patients. The trial initially enrolled 58 patients and analyzed efficacy endpoints at 12 months for various SMA types. It's noteworthy that apitegromab is under investigation and has not yet received FDA approval.
Scholar Rock (NASDAQ: SRRK), a clinical-stage biopharmaceutical company, announced its management will present at the Cowen 43rd Annual Health Care Conference.
The presentation is scheduled for Tuesday, March 7, 2023, at 12:50 p.m. ET. Investors can access a live webcast on the Scholar Rock website, with an archived replay available for 90 days post-presentation.
Scholar Rock focuses on developing innovative medicines targeting protein growth factors for critical diseases, including neuromuscular disorders and cancer, showcasing its proprietary platform for monoclonal antibody discovery.
Scholar Rock (NASDAQ: SRRK) announced the granting of inducement equity awards totaling 285,000 shares to two new employees. This includes stock options for 255,000 shares and restricted stock units (RSUs) for 30,000 shares. The awards, part of the 2022 Inducement Equity Plan, come with an exercise price of $10.00, which matches the closing stock price on February 13, 2023. Vesting will occur over a defined schedule, emphasizing the importance of employee retention and performance. Scholar Rock focuses on developing innovative therapies for serious diseases influenced by protein growth factors.
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