Scholar Rock reports Q1 EPS (59c), consensus (51c)

Reports tah the company did not record any revenue for the quarter ended March 31, or for the quarter ended March 31, 2023. Reports cash, cash equivalents and marketable securities of $238M as of March 31… expected to support runway into 2H 2025…”Scholar Rock is now only two quarters away from reporting topline data for our pivotal Phase 3 SAPPHIRE trial, which has the potential to build upon the promising data generated from our prior Phase 2 trial,” said Jay Backstrom, M.D., MPH, President & Chief Executive Officer of Scholar Rock. “As we look towards a potential commercial launch of apitegromab in SMA in 2025, we’re thrilled to be on the precipice of delivering a new class of treatment with potential to meaningfully impact people living with SMA.” Dr. Backstrom continued, “In parallel, we continue to make important progress with our cardiometabolic program. As we advance SRK-439 towards IND, we plan to present new preclinical data at upcoming conferences that further support SRK-439’s differentiated product profile. Additionally, we remain on track to open enrollment in June for our Phase 2 proof-of-concept trial evaluating apitegromab in combination with GLP-1 agonist treatment in obesity, which is designed to assess the effect of our selective approach to blocking myostatin to preserve lean muscle mass as part of healthy weight management. As a leader in selective myostatin inhibition, it is a priority for us to apply our expertise in the cardiometabolic arena, where safe preservation of lean muscle mass is important.”