SRRK Stock: Insider Activity, Filings & Research

Scholar Rock Holding Corporation (SRRK) — Drillr’s hub for SRRK insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, SRRK insiders filed 0 open-market buys and 4 sales (SEC Form 4).

Sentiment

0/100

Buys (3m)

Sells (3m)

Net (3m)

-$3.1M

Insider trades by month Buys Sells

Sep

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Apr

Context3-month price -5.9%Institutions accumulating (13F)

Date	Insider	Type	Shares	Price
Apr 24, 2026	Burow Kristinadirector	Option	36,000	$9.11
Apr 24, 2026	Burow Kristinadirector	Option	18,000	$8.36
Apr 24, 2026	Burow Kristinadirector	Option	28,000	$4.75
Apr 24, 2026	Burow Kristinadirector	Option	7,800	$26.78
Apr 20, 2026	Vaishnaw Akshaydirector, officer: President of R&D	Sell	12,246	$49.57
Apr 20, 2026	Sinha Vikasofficer: Chief Financial Officer	Sell	10,410	$49.57
Apr 20, 2026	Woods Keithofficer: Chief Operating Officer	Sell	10,220	$49.57
Apr 20, 2026	Hallal Daviddirector, officer: Chief Executive Officer	Sell	30,615	$49.57
Feb 25, 2026	Qatanani Moofficer: CHIEF SCIENTIFIC OFFICER	Sell	200	$48.48
Feb 25, 2026	Qatanani Moofficer: CHIEF SCIENTIFIC OFFICER	Sell	7,427	$46.94
Feb 25, 2026	Qatanani Moofficer: CHIEF SCIENTIFIC OFFICER	Sell	857	$47.86
Feb 19, 2026	Marantz Jing L.officer: CHIEF MEDICAL OFFICER	Sell	4,157	$46.53
Feb 19, 2026	Qatanani Moofficer: CHIEF SCIENTIFIC OFFICER	Sell	7,989	$46.53
Feb 19, 2026	Parlavecchio Carynofficer: CHRO	Sell	9,035	$46.53
Feb 19, 2026	Ho Junlinofficer: GENERAL COUNSEL	Sell	9,580	$46.53

Source: SRRK SEC Form 4 filings, latest Apr 24, 2026. For informational purposes only — not investment advice.

Overview

Scholar Rock Holding Corporation (NASDAQ:SRRK) is a Cambridge, Massachusetts-based biopharmaceutical company founded in 2012 that focuses on discovering and developing medicines targeting protein growth factor signaling pathways. The company went public in May 2018 and has emerged as a leader in developing highly selective inhibitors of latent growth factor activation, particularly targeting myostatin and transforming growth factor beta (TGF-β) pathways. Scholar Rock's lead drug candidate, apitegromab, recently completed successful Phase 3 clinical trials for treating spinal muscular atrophy and is currently under regulatory review by the FDA, with potential approval expected in September 2025.

Business

Scholar Rock operates in the biotechnology sector, specifically focusing on developing therapeutic antibodies that target latent growth factors - proteins that remain inactive until specifically activated in the body. The company's core scientific approach centers on creating highly selective inhibitors that can precisely control when and where these growth factors become active, rather than broadly blocking them throughout the body. The company's primary focus areas include three main therapeutic segments: **Neuromuscular Diseases (Primary Revenue Driver):** Scholar Rock's lead product candidate is apitegromab, an antibody that inhibits myostatin activation. Myostatin is a protein that naturally limits muscle growth, and by blocking its activation, apitegromab helps preserve and potentially improve muscle function. The drug has completed Phase 3 trials for spinal muscular atrophy (SMA), a rare genetic disease that causes progressive muscle weakness and atrophy. This represents the company's most advanced program and potential first commercial product. **Cardiometabolic Disorders (Emerging Focus):** The company is developing SRK-439, another anti-myostatin antibody specifically designed to preserve lean muscle mass during weight loss treatments. This addresses a significant side effect of popular GLP-1 weight loss medications like Ozempic and Wegovy, which can cause patients to lose both fat and valuable muscle tissue. This program is in early clinical development with proof-of-concept results expected in 2025. **Oncology and Fibrosis:** Scholar Rock has additional programs targeting TGF-β activation, including SRK-181 for cancer immunotherapy and SRK-373 for fibrotic diseases. The company also has a collaboration with Gilead Sciences focused on fibrosis treatments. The company generates no product revenue currently, as all programs remain in clinical development. Revenue in 2022 ($33.2 million) came from collaboration agreements, primarily with Gilead Sciences.

Revenue model

Scholar Rock currently operates as a pre-revenue biotechnology company, meaning it does not yet generate income from product sales. The company's future business model will primarily rely on product sales of approved therapeutics, with apitegromab representing their first potential commercial product. The company's target customers are healthcare providers treating patients with rare neuromuscular diseases, particularly neurologists and specialized treatment centers managing SMA patients. For the cardiometabolic program, customers would include endocrinologists and obesity specialists prescribing weight management therapies. Given the rare disease focus, Scholar Rock will likely employ a specialized sales force rather than broad commercial distribution. The company also generates revenue through collaboration agreements and licensing deals, as evidenced by their partnership with Gilead Sciences for TGF-β inhibitors in fibrosis. These partnerships provide upfront payments, milestone payments, and potential royalties on future sales. Several factors will significantly impact Scholar Rock's future margins and profitability. Positive factors include the rare disease market's tolerance for premium pricing due to limited treatment options and high unmet medical need. The company's highly selective approach may command premium pricing compared to less targeted therapies. Additionally, the relatively small patient populations allow for lean, specialized commercial teams rather than expensive mass-market sales forces. Challenging factors include the high cost of manufacturing complex antibody therapies, ongoing research and development expenses for pipeline programs, and the need to demonstrate clear clinical differentiation to justify pricing. Competition from established SMA treatments and emerging gene therapies could pressure market share and pricing. Regulatory requirements for rare diseases, while sometimes offering expedited pathways, still require substantial clinical evidence and can involve lengthy approval processes.

Competitive moat

Scholar Rock's competitive moat is built primarily around its proprietary scientific platform and intellectual property portfolio focused on latent growth factor activation. The company's core technological advantage lies in its ability to create highly selective inhibitors that target growth factors only when and where they become activated, rather than broadly blocking these proteins throughout the body. This approach potentially reduces side effects while maintaining therapeutic efficacy. The company's moat strength is moderate but growing. In the near term, Scholar Rock benefits from being among the first companies to successfully advance an anti-myostatin therapy through Phase 3 trials for SMA, giving them a potential first-mover advantage in this specific indication. Their extensive clinical data package and regulatory submission create barriers for competitors seeking to enter the same market. However, the moat faces several vulnerabilities. The biotechnology industry is characterized by rapid innovation, and potential competitive threats include established pharmaceutical companies with greater resources developing competing myostatin inhibitors or alternative approaches to treating SMA. Gene therapies, while different in mechanism, could provide superior long-term outcomes for SMA patients. Additionally, existing SMA treatments from companies like Biogen (Spinraza) and Novartis (Zolgensma) have established market presence and physician relationships. The company's intellectual property portfolio provides some protection, but patent cliffs and the ability of competitors to design around existing patents remain concerns. Scholar Rock's relatively small size compared to major pharmaceutical companies also limits their ability to defend market position through extensive commercial resources or aggressive pricing strategies. The cardiometabolic opportunity represents a potential significant moat expansion, as the market for preserving muscle mass during weight loss is enormous and largely unaddressed. Success in this area could establish Scholar Rock as the definitive leader in therapeutic myostatin inhibition across multiple indications.

Risks & safety

Scholar Rock demonstrates a **strong margin of safety** from a financial solvency perspective, though typical biotech valuation concerns apply. **Liquidity and Solvency:** - Cash position of $364.4 million as of Q1 2025, providing substantial runway - Additional $100 million available under debt facility - Minimal debt burden with debt-to-equity ratio of 0.20 - Strong current ratio of 10.25, indicating excellent short-term liquidity - Quarterly cash burn averaging $50-80 million, suggesting 4-5 years of runway at current spending levels **Valuation Metrics:** - Price-to-book ratio of 11.5 reflects significant premium to tangible assets - Enterprise value meaningless due to negative EBITDA (pre-revenue stage) - Graham net-net working capital ratio of 2.4 suggests reasonable asset backing - Market cap of approximately $3.25 billion for pre-revenue company indicates high expectations **Other Considerations:** - Binary risk profile typical of late-stage biotech - success or failure of apitegromab approval will dramatically impact valuation - Strong balance sheet provides cushion for potential setbacks or delays - Multiple pipeline programs reduce single-product dependency risk - Regulatory approval timeline provides clear value inflection points in 2025

Recent development

Over the past two years, Scholar Rock has executed a focused strategy centered on advancing apitegromab toward commercial approval while expanding into the large cardiometabolic market opportunity. The company's most significant achievement was the successful completion of the Phase 3 SAPPHIRE trial for apitegromab in SMA, which met its primary endpoint with a statistically significant 1.8-point improvement on the Hammersmith Functional Motor Scale compared to placebo. Following these positive results, Scholar Rock submitted a Biologics License Application (BLA) to the FDA in January 2025 and is preparing to submit a Marketing Authorization Application (MAA) to European regulators in March 2025. The FDA granted priority review with a target decision date of September 22, 2025, positioning the company for potential U.S. launch in the fourth quarter of 2025. The company has significantly strengthened its financial position through a $345 million follow-on equity offering in late 2024, bringing total cash to over $460 million. This funding supports both the commercial launch preparation for apitegromab and advancement of the cardiometabolic program. Scholar Rock's strategic expansion into obesity and metabolic health represents a major pivot toward addressing a much larger market opportunity. The company introduced SRK-439, a novel anti-myostatin antibody specifically designed to preserve lean muscle mass during GLP-1-induced weight loss. This program addresses a significant unmet need, as popular weight loss medications can cause patients to lose 20-30% of their weight loss from valuable muscle tissue rather than fat. The company is building commercial capabilities in preparation for apitegromab's launch, including hiring approximately 50 sales and support personnel and engaging with U.S. and European payers. Scholar Rock has also initiated disease awareness campaigns and is preparing both traditional infusion center and home infusion delivery options for patients.

SRRK company profile · for informational purposes only — not investment advice.

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