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Mar 31, 2021
Scholar Rock Q1 2021 Earnings Report
Scholar Rock reported financial results for the first quarter ended March 31, 2021.
Key Takeaways
Scholar Rock reported a net loss of $27.7 million, or $0.76 per share, and revenue of $4.7 million for the quarter ended March 31, 2021. The company's cash, cash equivalents and marketable securities were approximately $315 million.
Apitegromab shows transformative potential in spinal muscular atrophy (SMA) with 74% of patients with non-ambulatory Type 2 and 3 SMA in the TOPAZ Phase 2 trial attaining a clinical improvement in HFMSE at 12 months.
Mean increase from baseline in HFMSE of 6.2 points (across both evaluated doses) observed in younger non-ambulatory patients; up to 20-point increases in HFMSE observed with 35% of patients demonstrating a >10-point increase
Scholar Rock anticipates initiating apitegromab Phase 3 trial by year-end 2021 in patients with non-ambulatory Type 2 and 3 SMA, representing approximately 2/3 of SMA patient population
Dose escalation continues to progress in DRAGON Phase 1 trial evaluating SRK-181 in combination with anti-PD-(L)1 therapy; initial data anticipated by year-end 2021
Forward Guidance
Scholar Rock is focused on advancing its portfolio of clinical and preclinical programs with several near-term milestones.
Positive Outlook
- Initiation of a Phase 3 trial evaluating apitegromab in SMA
- Completion of dose escalation in Part A of the DRAGON Phase 1 trial of SRK-181 in patients with solid tumors
- Initiation of the Part B dose expansion portion of the DRAGON Phase 1 trial of SRK-181 in patients with solid tumors
- Anticipated initial clinical response and safety data from Part A of the DRAGON Phase 1 Trial by year-end 2021
- Well positioned to continue to execute on plans as we ended the first quarter with approximately $315 million in cash, which can fund operations into 2023
Historical Earnings Impact
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