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Mar 31, 2022
Scholar Rock Q1 2022 Earnings Report
Scholar Rock's first quarter 2022 financial results were reported, and strategic priorities were updated.
Key Takeaways
Scholar Rock reported revenue of $33.2 million for Q1 2022, primarily from the Gilead collaboration, and a net loss of $8.0 million, or $0.21 per share. The company is prioritizing its clinical programs, reducing workforce by 25%, and expects its cash runway to extend into the fourth quarter of 2023.
On track for Phase 2 apitegromab TOPAZ two-year data by mid-year.
Progressed enrollment for both Phase 3 apitegromab SAPPHIRE clinical trial & Phase 1 SRK-181 DRAGON clinical trial.
Restructuring reduces operating expenses, prioritizes R&D activity on completing SAPPHIRE trial and extends cash runway into the fourth quarter of 2023.
Yung Chyung, MD, has decided to step down as Chief Medical Officer effective June 30, 2022.
Forward Guidance
Scholar Rock expects that the updates and changes announced will fund its anticipated operating and capital expenditure requirements into the fourth quarter of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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