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CAMBRIDGE, MA—Ho Junlin, General Counsel of Scholar Rock Holding Corp (NASDAQ:SRRK), recently sold 9,039 shares of the company's common stock. The shares were sold at an average price of $44.1972 each, resulting in a total transaction value of approximately $399,498. The transaction comes as Scholar Rock, now valued at $4.19 billion, trades near its 52-week high of $46.19, having delivered an impressive 186% return over the past year.
The sale, executed on January 16, 2025, was conducted to cover the tax withholding obligations associated with the vesting of restricted stock units (RSUs). This transaction was not a discretionary trade by Ho but was mandated by the company's equity incentive plans. Following the sale, Ho retains ownership of 195,037 shares, which includes 91,946 shares of common stock and 103,091 RSUs. According to InvestingPro, the company maintains a strong liquidity position with a current ratio of 3.88, while receiving a FAIR overall financial health rating. InvestingPro subscribers have access to 13 additional key insights about Scholar Rock's financial outlook.
In other recent news, Scholar Rock is advancing its potential treatment for spinal muscular atrophy (SMA), apitegromab, towards commercialization. Regulatory applications are expected to be submitted in early 2025, with a U.S. launch anticipated in late 2025. The company is also expanding the use of apitegromab into other rare neuromuscular conditions and advancing its cardiometabolic program.
Recent analyst notes from H.C. Wainwright, Truist Securities, and BMO Capital Markets have upgraded their price targets for Scholar Rock, reflecting optimism regarding the company's drug trials. These upgrades were influenced by positive results from the Phase 3 SAPPHIRE study for apitegromab and a competitor's failed trial, which has potentially increased the market opportunity for Scholar Rock's SMA treatment.
Furthermore, Scholar Rock has initiated the Phase 2 OPAL clinical trial for SMA patients under two years old, set to begin in mid-2025. The company also plans to submit an Investigational New Drug application for SRK-439, another candidate targeting myostatin, in 2025 for obesity treatment. Lastly, Scholar Rock maintains a healthy financial position, with sufficient funds to support operations into late 2026.
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