SRRK Stock — Scholar Rock Holding Corporation: Cash, EV, Pipeline

What they do

We believe 2026 could be a transformational year for Scholar Rock as we anticipate the potential to become a commercial-stage biotech company. Our lead pipeline product candidates include apitegromab, a subcutaneous formulation of apitegromab, and SRK-439. Apitegromab is a novel, investigational, fully human monoclonal antibody that inhibits myostatin activation by selectively binding the pro- and latent forms of myostatin in skeletal muscle.

Source: 10-K FY2025 via SEC EDGAR

Share price

$47.33

Market cap

$5,702.0M

Cash

$413.6M

Enterprise value

$5,484.6M

Balance sheet

Cash	$413.6M
Debt	$196.2M
Net cash	$217.4M
Enterprise value	$5,484.6M
Basic shares	122.0M shares
Fully diluted shares	141.8M shares
Fully diluted market cap	$6,712.8M
Cash per share	$3.39
Quarterly burn	$70.3M
Cash runway	7.0 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-11.

Share structure

Common

121.8M

Pre-funded warrants

10.6M

Options

6.7M

RSUs

0.0M

Warrants

0.2M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

2.6M

FDSO

141.8M

Cap table as of 2026-08-03.

Price history

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Next catalyst

SRK-439 · Est. Nov 11, 2026 · half midpoint · guided Now

Recently reported

apitegromab Positive · 2026-09-11

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 11, 2026 Now half midpoint	SRK-439 Phase 1 in healthy volunteers · NCT07444294	Phase 1	healthy volunteers	H2 2026
Dec 13, 2026 - Jan 24, 2027 in 5 wks	Apitegromab	Phase 3	Spinal Muscular Atrophy; Spinal Muscular Atrophy Type 3; Spinal Muscular Atrophy Type 2	—
Jan 28 - Mar 11 in 11 wks	SRK-439	Phase 1	Healthy	—
Jul 13 - Aug 24 in 20 mo	Apitegromab	Phase 2	Facioscapulohumeral Muscular Dystrophy; FSHD	—
Dec 13, 2028 - Jan 24, 2029 in 25 mo	Apitegromab	Phase 2	Spinal Muscular Atrophy; SMA; Spinal Muscular Atrophy Type 2	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

apitegromab

Phase 3 · Active Modality: monoclonal antibody (IV)

Target myostatin (pro- and latent forms)

Indications

spinal muscular atrophy (SMA) (Phase 3)

Catalysts

— 2026-09-30

Status note Phase 3 SAPPHIRE in SMA (October 2024). BLA submitted January 2025 (priority review); CRL September 2025; resubmitted; FDA accepted with September 30, 2026 PDUFA. Long-term extension ONYX ongoing. A subcutaneous formulation completed a Phase 1 study in healthy volunteers; further development activities ongoing, including planned FDA/EMA regulatory engagements following potential apitegromab approvals.

SRK-439

Phase 1 · Active Modality: monoclonal antibody (subcutaneous)

Target myostatin (pro- and latent forms)

Indications

Rare, severe, debilitating neuromuscular diseases (Phase 1)

Catalysts

— second half of 2026

Status note Subcutaneously administered anti-pro/latent myostatin antibody. Phase 1 study in healthy volunteers underway.

SRK-181

Phase 1 · Active Modality: monoclonal antibody

Target latent TGFβ1

Indications

Locally advanced or metastatic solid tumors resistant to anti-PD-(L)1 therapies (Phase 1)

Status note Phase 1 DRAGON trial in urothelial carcinoma, melanoma, NSCLC, ccRCC and head and neck SCC completed 2025. Phase 2-ready; company currently seeking partnerships.

SRK-373

Preclinical · Active Modality: monoclonal antibody

Target latent TGFβ1

Indications

Fibrotic diseases (Preclinical)

Status note Preclinical development. Company currently seeking partnerships.

SRK-256

Preclinical · Active Modality: monoclonal antibody

Target RGMc (hemojuvelin)

Indications

Iron-restricted anemias (Preclinical)

Status note Preclinical development. Company currently seeking partnerships.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Apitegromab
Lead indication	Spinal Muscular Atrophy; Spinal Muscular Atrophy Type 3; Spinal Muscular Atrophy Type 2
Lead phase	Phase 3
Active trials	4
Collaborator trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05626855	Phase 3	Active, not recruiting	Sponsor	SRRK	—	Spinal Muscular Atrophy; Spinal Muscular Atrophy Type 3; Spinal Muscular Atrophy Type 2	—
NCT07435129	Phase 2	Recruiting	Sponsor	SRRK	—	Facioscapulohumeral Muscular Dystrophy; FSHD	—
NCT07047144	Phase 2	Recruiting	Sponsor	SRRK	—	Spinal Muscular Atrophy; SMA; Spinal Muscular Atrophy Type 2	—
NCT07444294	Phase 1	Recruiting	Sponsor	SRRK	—	Healthy	H2 2026 Est. Dec 31, 2026 · PCD + 6 wks (Dec 31-Dec 31)
NCT05737602	Not disclosed	Active, not recruiting	Collaborator	Massachusetts General Hospital	—	Von Hippel-Lindau Disease; Genetic Disorder	—
NCT04756245	Not disclosed	Recruiting	Collaborator	Wake Forest University	—	Exercise; Behavior; Loneliness	—

Sponsor-matched active trials from ClinicalTrials.gov (4 as sponsor, 2 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 6 active trials for Scholar Rock, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Casdin Capital	665,000	+315,000	1.83%	2026-08-14
Logos Global Management	200,000	+200,000	0.47%	2026-08-14
Sphera Biotech	94,265	no change	0.74%	2026-08-14
Aisling Capital	77,031	no change	0.90%	2026-08-13
ADAR1 Capital Management	0	-407,273	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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SRRK — Scholar Rock Holding Corporation ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

SRRK — Scholar Rock Holding Corporation