Scholar Rock Holding Corporation (SRRK), a late-stage biopharmaceutical company, Tuesday reported net loss of $165.8 million or $1.99 per share for the full year, wider than $134.5 million or $2.26 per share in the previous year.
The company did not record any revenue for the year, while it had a revenue of $33.2 million in the previous year related to collaboration agreement with Gilead Sciences.
Scholar Rock added that as of December 31, 2023, it had cash, cash equivalents, and marketable securities of about $280 million, which is expected to fund the its operating and capital expenditure requirements into the second half of 2025.
Additionally, the company said it is on track to announce topline data from the Phase 3 SAPPHIRE study of its drug candidate apitegromab in spinal muscular atrophy in the fourth quarter of 2024.
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