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Investing.com -- Scholar Rock Holding Corp . (NASDAQ:SRRK) reported a wider first-quarter loss on Thursday as the biotech company prepares for the potential launch of its spinal muscular atrophy drug apitegromab later this year. Despite the loss, shares edged up 1% in early trading.
The late-stage biopharmaceutical company posted a net loss of $74.7 million, or $0.67 per share, for the quarter ended March 31, 2025. This compares to a loss of $56.9 million, or $0.59 per share, in the same period last year. The loss was $0.01 worse than analysts’ estimates of $0.66 per share.
Scholar Rock did not report any revenue for the quarter, consistent with the year-ago period. The company’s focus remains on advancing apitegromab towards potential approval and commercialization.
Research and development expenses rose to $48.7 million from $43.1 million last year, driven by investments in commercial manufacturing and launch readiness for apitegromab. General and administrative costs nearly doubled to $28.4 million from $15.3 million as the company scales operations ahead of a potential product launch.
"Scholar Rock is at an inflection point as we evolve to a commercial-stage biopharmaceutical company," said CEO David L. Hallal. He noted the FDA has granted priority review for apitegromab’s Biologics License Application, with a target action date of September 22, 2025.
The company ended the quarter with $364.4 million in cash and marketable securities, which it expects will fund operations into 2027. Scholar Rock is preparing for a potential U.S. launch of apitegromab in the third quarter of 2025, pending FDA approval.
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