NASDAQ$SRRK
Scholar Rock Holding Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Scholar Rock reported its full year financial results and highlighted business progress.
Scholar Rock reported a net loss of $165.8 million for the full year ended December 31, 2023. The company is on track to release topline data for its Phase 3 SAPPHIRE trial of apitegromab in spinal muscular atrophy in the fourth quarter of 2024 and to initiate a Phase 2 proof-of-concept trial with apitegromab in combination with a GLP-1 RA in mid-2024. The company ended the year with approximately $280 million in cash, cash equivalents, and marketable securities.
- Pivotal Phase 3 SAPPHIRE trial in patients with Spinal Muscular Atrophy is on track to report topline data in 4Q 2024.
- FDA clearance of IND application was announced to initiate Phase 2 proof-of-concept trial with apitegromab to treat obesity; expected to commence in mid-2024.
- Preclinical data was presented supporting potential benefit of SRK-439 to preserve lean muscle mass as part of healthier weight management at Keystone Symposia.
- Ended 2023 with approximately $280 million in cash, cash equivalents, and marketable securities, which is expected to fund operations into 2H 2025
Headline financials
Revenue & EPS history
Scholar Rock · Revenue · Quarterly
$0
Forward guidance
Scholar Rock is focused on advancing its pipeline, with key milestones expected in the near term. The company anticipates releasing topline data from the Phase 3 SAPPHIRE trial in Q4 2024 and initiating a Phase 2 trial for apitegromab in combination with a GLP-1 RA in mid-2024. SRK-439, a novel preclinical myostatin inhibitor for obesity, is moving toward IND.
Tailwinds
- On track to release topline data for Phase 3 SAPPHIRE trial in SMA in Q4 2024.
- Phase 2 proof-of-concept trial with apitegromab in combination with a GLP-1 RA expected to commence in mid-2024.
- SRK-439, a novel preclinical myostatin inhibitor for obesity, moving toward IND.
- Apitegromab is the only muscle-targeted therapy candidate to show clinical proof-of-concept in SMA.
- Capital raise in the fourth quarter extended cash runway.
Headwinds
- Apitegromab has not been approved for any use by the US FDA or any other health authority, and its safety and efficacy have not been established.
- The efficacy and safety of SRK-439 have not been established and SRK-439 has not been approved for any use by the FDA or any other regulatory agency.
- Clinical data from earlier trials may not be predictive of results from future trials.
- Dependence on third parties for development and manufacture of product candidates.
- Competition from third parties developing products for similar uses.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+3.6%
Avg return
Earnings day
+3.0%
Avg return
5 days after
+3.5%
Avg return
30 days after
58%
18 / 31 earnings
Positive
+24.6%
Q4 2023
Best reaction
-7.6%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | +4.4% | -6.1% | |
| Q4 2025 | +2.0% | +4.2% | +15.0% | |
| Q3 2025 | +24.1% | +32.0% | +55.9% | |
| Q2 2025 | -6.1% | -14.9% | -15.1% | |
| Q1 2025 | -2.6% | -3.9% | +3.3% | |
| Q4 2024 | -2.9% | +0.2% | -11.3% | |
| Q3 2024 | -2.7% | -5.9% | +48.0% | |
| Q1 2024 | -3.7% | -11.4% | -37.4% | |
| Q4 2023 | +24.6% | +24.2% | +5.7% | |
| Q3 2023 | -1.8% | -17.5% | +44.2% | |
| Q2 2023 | +6.3% | +11.6% | -3.6% | |
| Q1 2023 | +4.4% | -0.1% | -13.6% | |
| Q4 2022 | +7.2% | -1.9% | -15.7% | |
| Q3 2022 | +10.9% | +0.2% | +1.5% | |
| Q2 2022 | +6.9% | +32.9% | +5.2% | |
| Q1 2022 | +7.3% | -5.2% | -9.7% | |
| Q4 2021 | -5.1% | -9.5% | -8.6% | |
| Q3 2021 | +16.8% | +24.2% | -10.4% | |
| Q2 2021 | +4.8% | +7.5% | +4.6% | |
| Q1 2021 | -2.4% | +0.1% | +10.6% | |
| Q4 2020 | +16.8% | +21.4% | -40.2% | |
| Q3 2020 | -1.0% | +2.8% | +7.7% | |
| Q2 2020 | +3.9% | -4.1% | +5.0% | |
| Q1 2020 | -4.8% | +6.9% | +2.2% | |
| Q4 2019 | +4.3% | +9.4% | -1.1% | |
| Q3 2019 | -7.6% | -14.5% | +17.0% | |
| Q2 2019 | +0.8% | +11.9% | +19.4% | |
| Q1 2019 | +6.2% | +8.6% | -4.9% | |
| Q4 2018 | +9.8% | +2.3% | -7.4% | |
| Q3 2018 | +2.0% | -10.0% | -1.6% | |
| Q2 2018 | -6.7% | -11.9% | +51.0% | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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