Scholar Rock Announces Proposed Public Offering of Common Stock
28 October 2020 - 7:17AM
Business Wire
Scholar Rock Holding Corporation (Nasdaq: SRRK), a
clinical-stage biopharmaceutical company focused on the treatment
of serious diseases in which protein growth factors play a
fundamental role, today announced that it intends to offer and sell
in an underwritten public offering $150,000,000 of shares of its
common stock. In addition, Scholar Rock intends to grant the
underwriters a 30-day option to purchase up to an additional
$22,500,000 of shares of common stock offered in the public
offering. All of the shares are being offered by Scholar Rock. 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 SRK-015 in Spinal Muscular Atrophy, including costs
associated with preparing for and executing clinical trials
(including a Phase 3 clinical trial), SRK-181 in cancer
immunotherapy, development of its preclinical and discovery
programs, as well as for working capital and other general
corporate purposes.
J.P. Morgan Securities LLC, Jefferies LLC and Credit Suisse
Securities (USA) LLC are acting as joint book-running managers for
the offering. BMO Capital Markets Corp. is acting as lead manager
for the offering.
The securities described above are being offered by Scholar Rock
pursuant to a shelf registration statement on Form S-3 (No.
333-231920) that was declared effective by the Securities and
Exchange Commission (SEC) on June 10, 2019. 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, Attention: Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, by telephone at
1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com;
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at
877-547-6340 or by email at Prospectus_Department@Jefferies.com; or
Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by
telephone at (800) 221-1037 or by email at
usa.prospectus@credit-suisse.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,
fibrosis and anemia. 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, 2020, 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/20201027006194/en/
Scholar Rock: Investors/Media Catherine Hu, 917-601-1649
chu@scholarrock.com
Media: The Yates Network Kathryn Morris, 914-204-6412
kathryn@theyatesnetwork.com
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