Full Press Release Details
Scholar Rock Announces
Proposed Public Offering of Common Stock
Mass.--(BUSINESS WIRE)-Oct. 11, 2023-- 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.
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.
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.
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.
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.
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
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.