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This transaction was a mandatory sale to cover tax obligations associated with the vesting of restricted stock units (RSUs), as stipulated by Scholar Rock's equity incentive plans. These RSUs were originally granted on February 1, 2021, February 14, 2022, and February 12, 2024, and vest annually over four years, contingent on continued service with the company.Following this transaction, Myles holds 148,549 shares, which include 21,266 shares of common stock and 127,283 RSUs. Scholar Rock, now valued at $4.19 billion, maintains a FAIR financial health rating according to InvestingPro's comprehensive analysis, which offers detailed insights through its Pro Research Report, available for over 1,400 US stocks. Scholar Rock, now valued at $4.19 billion, maintains a FAIR financial health rating according to InvestingPro's comprehensive analysis, which offers detailed insights through its Pro Research Report, available for over 1,400 US stocks.
This transaction was a mandatory sale to cover tax obligations associated with the vesting of restricted stock units (RSUs), as stipulated by Scholar Rock's equity incentive plans. These RSUs were originally granted on February 1, 2021, February 14, 2022, and February 12, 2024, and vest annually over four years, contingent on continued service with the company.
Following this transaction, Myles holds 148,549 shares, which include 21,266 shares of common stock and 127,283 RSUs.
In other recent news, Scholar Rock, a biopharmaceutical company, is making significant strides in the development and commercialization of apitegromab, a potential treatment for spinal muscular atrophy (SMA). The company plans to submit regulatory applications in the first quarter of 2025, with a U.S. launch expected in the fourth quarter of the same year. Scholar Rock also aims to expand the use of apitegromab into other rare neuromuscular conditions.
Recent developments include the initiation of the Phase 2 OPAL clinical trial for SMA patients under two years old, set to begin in mid-2025. This follows the positive results from the pivotal Phase 3 SAPPHIRE trial, which met its primary endpoint in improving motor function in SMA patients. In addition to SMA, Scholar Rock is advancing its cardiometabolic program, with topline data from the Phase 2 EMBRAZE trial in obesity expected in the second quarter of 2025.
Analyst firms H.C. Wainwright, Truist Securities, and BMO Capital Markets have recently upgraded their price targets for Scholar Rock, reflecting confidence in the company's growth potential. These upgrades were influenced by the successful results from the Phase 3 SAPPHIRE study and the anticipated market performance and potential of apitegromab. The company is also financially robust, with sufficient funds to support operations and capital expenditure requirements into the fourth quarter of 2026.
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