Scholar Rock Reports First Quarter 2022 Financial Results and Updates Strategic Priorities
“We are highly confident in the transformative potential of apitegromab based upon the Phase 2 TOPAZ data we have released to date. We look forward to presenting two-year extension trial data in the coming weeks,” said Nagesh Mahanthappa, Ph.D., Founding Chief Executive Officer of Scholar Rock. “Based upon the strength of the data released to date and our commitment to the SMA community, this narrower focus and associated headcount reduction is necessary to execute our core mission -- completing the Phase 3 SAPPHIRE trial to bring apitegromab, our highly innovative therapeutic candidate, to patients suffering with this devastating disease.”
- In conjunction with the pipeline prioritization, these changes are expected to extend the cash runway into the fourth quarter of 2023.
- We look forward to presenting two-year extension trial data in the coming weeks, said Nagesh Mahanthappa, Ph.D., Founding Chief Executive Officer of Scholar Rock.
- The Company expects research expenses to decline beginning in the third quarter of 2022 due to the portfolio updates and workforce reduction announced today.
- As of March 31, 2022, Scholar Rock had cash, cash equivalents, and marketable securities of approximately $210 million.