Scholar Rock Reports Wider Loss For Full Year

March 19, 2024 — 07:31 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Scholar Rock Holding Corporation (SRRK), a late-stage biopharmaceutical company, Tuesday reported net loss of $165.8 million or $1.99 per share for the full year, wider than $134.5 million or $2.26 per share in the previous year.

The company did not record any revenue for the year, while it had a revenue of $33.2 million in the previous year related to collaboration agreement with Gilead Sciences.

Scholar Rock added that as of December 31, 2023, it had cash, cash equivalents, and marketable securities of about $280 million, which is expected to fund the its operating and capital expenditure requirements into the second half of 2025.

Additionally, the company said it is on track to announce topline data from the Phase 3 SAPPHIRE study of its drug candidate apitegromab in spinal muscular atrophy in the fourth quarter of 2024.

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Scholar Rock Reports Wider Loss For Full Year

Tags

Latest Articles