- Scholar Rock Holding Corp (NASDAQ:SRRK) plans to reduce its overall headcount by 25%, and its Chief Medical Officer Yung Chyung will step down by the end of June.
- "Parting with employees who have dedicated their talent and expertise to evolving a scientific platform into a Phase III-stage company is very difficult. We are extremely grateful for their contributions to our mission," Scholar Rock CEO Nagesh Mahanthappa.
- Scholar Rock is working on a spinal muscular atrophy program dubbed apitegromab, currently in Phase 2 and Phase 3 studies, and a TGFβ1 inhibitor in Phase 1b testing for solid tumors.
- Related: Scholar Rock To Highlight Apitegromab Data From Ambulatory Cohort In Muscular Dystrophy.
- The company is on track for Phase 2 TOPAZ trial of apitegromab two-year data by mid-year.
- Scholar Rock is narrowing the scope of discovery programs it expects to pursue.
- As of March 31, Scholar Rock held cash, cash equivalents, and marketable securities of approximately $210 million, sufficient to fund its anticipated operating and capital expenditure requirements into Q4 of 2023.
- Price Action: SRRK shares are up 16.9% at $6.09 during the market session on the last check Tuesday.
