Press Release November 02, 2020

Scholar Rock Completes $230 Million Follow-On Offering

The Life Sciences team advised Scholar Rock Holding Corporation (Nasdaq: SRRK) on the closing of its underwritten public offering of 3,717,948 shares of its common stock, and to certain investors in lieu thereof, pre-funded warrants to purchase 2,179,487 shares of its common stock at an exercise price of $0.0001 per share. The shares of common stock sold include 769,230 shares pursuant to the option granted by Scholar Rock to the underwriters, which option was exercised in full. The public offering price of each share of common stock was $39.00 and the public offering price of each pre-funded warrant was $38.9999 per pre-funded warrant. The aggregate gross proceeds to Scholar Rock from this offering were approximately $230 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

Scholar Rock is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. Scholar Rock is creating a pipeline of novel product candidates with the potential to transform the lives of patients suffering from a wide range of serious diseases, including neuromuscular disorders, cancer, fibrosis and anemia. Scholar Rock’s approach to targeting the molecular mechanisms of growth factor activation enabled it to develop a proprietary platform for the discovery and development of monoclonal antibodies that locally and selectively target these signaling proteins at the cellular level. By developing product candidates that act in the disease microenvironment, Scholar Rock intends to avoid the historical challenges associated with inhibiting growth factors for therapeutic effect. Scholar Rock believes its focus on biologically validated growth factors may facilitate a more efficient development path.

The Goodwin team was led by Kingsley Taft, Laurie Burlingame, Michael Rosenberg, Humza Bokhari and Arturo Cruz and included Julie Tibbets, and Steven Tjoe with invaluable assistance from Ettore Santucci.

For additional details on the offering, please read the press release.