Scholar Rock Announces Proposed Public Offering of Common Stock
October 11 2023 - 5:05PM
Business Wire
Scholar Rock Holding Corporation (Nasdaq: SRRK), a Phase 3
clinical-stage biopharmaceutical company focused on the treatment
of serious diseases in which protein growth factors play a
fundamental role, today announced that it has commenced an
underwritten public offering for $75.0 million of shares of its
common stock. All of the shares are being offered by Scholar Rock.
In addition, Scholar Rock intends to grant the underwriters a
30-day option to purchase additional shares of its common stock in
an amount equal to 15% of the securities offered in the public
offering. The offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
Scholar Rock intends to use the net proceeds from the offering
to advance apitegromab, develop its clinical and preclinical
pipeline, as well as for working capital and other general
corporate purposes.
J.P. Morgan Securities LLC and Piper Sandler & Co. are
acting as joint book-running managers for the offering. BMO Capital
Markets Corp. and Wedbush Securities Inc. are acting as co-managers
for the offering.
The securities described above are being offered by Scholar Rock
pursuant to a shelf registration statement on Form S-3 (No.
333-268329) that was declared effective by the Securities and
Exchange Commission (SEC) on November 25, 2022. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available on the
SEC’s website located at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained, when available, by contacting: J.P.
Morgan Securities LLC, c/o: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, by telephone at
866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; or Piper
Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, Attention: Prospectus Department, by telephone at
800-747-3924 or by email at prospectus@psc.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
state or jurisdiction.
About Scholar Rock Scholar Rock is a clinical-stage
biopharmaceutical company focused on the discovery and development
of innovative medicines for the treatment of serious diseases in
which signaling by protein growth factors plays a fundamental role.
Scholar Rock is creating a pipeline of novel product candidates
with the potential to transform the lives of patients suffering
from a wide range of serious diseases, including neuromuscular
disorders, cancer, and fibrosis. Scholar Rock’s approach to
targeting the molecular mechanisms of growth factor activation
enabled it to develop a proprietary platform for the discovery and
development of monoclonal antibodies that locally and selectively
target these signaling proteins at the cellular level. By
developing product candidates that act in the disease
microenvironment, the Company intends to avoid the historical
challenges associated with inhibiting growth factors for
therapeutic effect. Scholar Rock believes its focus on biologically
validated growth factors may facilitate a more efficient
development path.
Scholar Rock® is a registered trademark of Scholar Rock,
Inc.
Forward-Looking Statements This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding Scholar Rock’s intention to
conduct an offering and sale of securities, the size of the
offering, the completion of the proposed offering and the expected
use of proceeds from the proposed offering. The use of words such
as “may,” “might,” “will,” “should,” “expect,” “plan,”
“anticipate,” “believe,” “estimate,” “project,” “intend,” “future,”
“potential,” or “continue,” and other similar expressions are
intended to identify such forward-looking statements. All such
forward-looking statements are based on management's current
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties include
fluctuations in Scholar Rock’s stock price, changes in market
conditions and satisfaction of customary closing conditions related
to the public offering and those risks more fully discussed in the
section entitled "Risk Factors" in Scholar Rock’s Quarterly Report
on Form 10-Q for the quarter ended June 30, 2023, as well as
discussions of potential risks, uncertainties, and other important
factors in Scholar Rock’s subsequent filings with the SEC. Any
forward-looking statements represent Scholar Rock’s views only as
of today and should not be relied upon as representing its views as
of any subsequent date. All information in this press release is as
of the date of the release, and Scholar Rock undertakes no duty to
update this information unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231011851484/en/
Scholar Rock: Investors Rushmie Nofsinger Scholar
Rock rnofsinger@scholarrock.com ir@scholarrock.com 857-259-5573
Media Molly MacLeod Scholar Rock mmacleod@scholarrock.com
media@scholarrock.com 802-579-5995
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