Scholar Rock Holding Stock Price, News & Analysis

Scholar Rock (NASDAQ: SRRK), a late-stage biopharmaceutical company, has granted inducement equity awards to five newly hired employees. The awards include 48,685 shares of inducement stock options and 36,515 shares of inducement restricted stock units, totaling 85,200 shares of common stock. These awards are part of the company's 2022 Inducement Equity Plan, designed to attract new talent.

The stock options have an exercise price of $9.48, equal to the closing price on August 12, 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 subject to continued employment with Scholar Rock.

Scholar Rock (NASDAQ: SRRK) reported Q2 2024 financial results and business updates. Key highlights include:

1. On track to report topline data from Phase 3 SAPPHIRE trial in Spinal Muscular Atrophy (SMA) in Q4 2024.

2. New data from Phase 2 TOPAZ extension study showed sustained clinical benefit over 48 months in nonambulatory SMA patients.

3. Phase 2 EMBRAZE proof-of-concept trial in obesity enrolling ahead of schedule, topline data expected in Q2 2025.

4. Q2 2024 net loss was $58.5 million or $0.60 per share.

5. Cash, cash equivalents, and marketable securities of $190.5 million as of June 30, 2024, expected to fund operations into the second half of 2025.

Scholar Rock (NASDAQ: SRRK), a late-stage biopharmaceutical company, will host a conference call on August 8, 2024, at 8:15am ET to discuss its second quarter 2024 financial results and provide a business update. The call will cover financial performance and advancements in treatments for spinal muscular atrophy (SMA), cardiometabolic disorders, and other serious diseases. Interested participants can register for the live audio webcast on the Scholar Rock website under the “Events and Presentations” section. A replay will be available for 90 days.

Scholar Rock (NASDAQ: SRRK) announced the granting of inducement equity awards under Nasdaq Listing Rule 5635(c)(4) to newly hired employees. On July 10, 2024, the company granted awards covering 285,000 shares of common stock, consisting of 162,857 inducement stock options and 122,143 inducement restricted stock units. On July 8, 2024, inducement equity awards covering 48,700 shares of common stock were granted, including 27,829 inducement stock options and 20,871 inducement restricted stock units. The stock options have exercise prices of $8.27 and $7.87, respectively, matching the closing prices on the grant dates. The awards are subject to the Scholar Rock 2022 Inducement Equity Plan. Stock options will vest 25% on the first anniversary of the start date, with the remaining 75% vesting quarterly over three years. Restricted stock units will vest annually over four years, contingent on continued employment.

Scholar Rock (NASDAQ: SRRK) announced new preclinical data for SRK-439, a myostatin inhibitor, showing promising results in lean mass preservation and fat mass rebound attenuation following GLP-1 receptor agonist (GLP-1 RA) withdrawal.

The data were presented at the American Diabetes Association’s 84th Scientific Sessions. The company also revealed that the first participants were dosed in the Phase 2 EMBRAZE trial to assess the safety and efficacy of apitegromab, another myostatin inhibitor, in individuals with obesity.

Preclinical studies on a diet-induced obesity mouse model showed that SRK-439 administration preserved lean mass and reduced fat mass rebound compared to a control group. Key findings include higher relative lean mass (65.8%) and lower relative fat mass (18.0%) in mice treated with SRK-439 at the end of the withdrawal period.

These results support the potential of SRK-439 for healthier weight management and long-term metabolic benefits, which could be transformative for obesity treatment.

Scholar Rock (NASDAQ: SRRK), a late-stage biopharmaceutical company, announced the grant of inducement equity awards to five new employees under Nasdaq Listing Rule 5635(c)(4). These awards consist of 96,700 shares of common stock, including 55,258 inducement stock options and 41,442 restricted stock units. The exercise price for the stock options is set at $9.63 per share, equal to the closing price on June 10, 2024. The stock options will vest 25% after one year and the remaining 75% in 12 quarterly installments. Restricted stock units will vest annually in four equal installments. All awards are part of the 2022 Inducement Equity Plan, designed to attract new talent.

Scholar Rock (NASDAQ: SRRK) presented new data from its Phase 1 DRAGON trial of SRK-181, a selective inhibitor of latent TGFβ1 activation, in combination with pembrolizumab at the ASCO 2024 Annual Meeting. The study showed promising objective response rates (ORR) in various tumor types for patients resistant to anti-PD-(L)1 therapies. Clear cell renal cell carcinoma (ccRCC) patients exhibited a doubling of the ORR, suggesting a potential patient selection strategy. SRK-181 was generally well tolerated, with no Grade 5 treatment-related adverse events. These findings bolster confidence in SRK-181's ability to overcome immune checkpoint inhibitor-associated resistance. Scholar Rock plans to discuss these results further with the FDA.

Scholar Rock (NASDAQ: SRRK) will present new data from the Phase 1 DRAGON trial of SRK-181 in combination with pembrolizumab at the ASCO Annual Meeting, May 31 – June 4 in Chicago. The trial demonstrated encouraging responses and tolerability in patients with advanced solid tumors, including ccRCC, HNSCC, melanoma, and UC. It also showed that the SRK-181 + pembrolizumab combination improved the proinflammatory microenvironment. A positive correlation between CD8+ T cell infiltration and response rate was observed in ccRCC patients. An oral presentation of the data is scheduled for June 3 at 1:50 p.m. CDT, followed by a conference call on June 4 at 8 a.m. EDT.

Scholar Rock (NASDAQ: SRRK) has initiated the Phase 2 EMBRAZE trial to evaluate the efficacy and safety of apitegromab in preserving lean muscle mass in obese individuals on GLP-1 receptor agonist therapy. The trial involves 100 participants and will last 24 weeks, with primary results expected by mid-2025.

New preclinical data revealed SRK-439's superior performance over anti-ActRII antibodies in preserving lean mass in diet-induced obesity mice. SRK-439 showed significant lean mass preservation at lower doses compared to anti-ActRII, indicating its potential as a best-in-class treatment for obesity-related muscle mass preservation.

The company shared these findings at an Investor Event, emphasizing the advantage of selective latent myostatin inhibition. Future data presentations and an anticipated IND filing for SRK-439 in 2025 are planned.