Scholar Rock Holding Corp. (NASDAQ:SRRK) raised $75 million through the sale of 5.4 million shares at $14 in an IPO underwritten by Jefferies, Cowen, BMO Capital Markets and Wedbush PacGrow.
Scholar Rock priced the offering at the midpoint of its proposed range of $13-$15. The price valued the company at $342.2 million.
Founded in 2012, Scholar Rock is developing a pipeline of candidates based on its growth factor modulation platform. It expects to begin Phase I testing this month of lead candidate SRK-015, an inhibitor of latent myostatin (MSTN; GDF8) activation, to treat spinal muscular atrophy (SMA), for which it has Orphan Drug designation from FDA. The company has other preclinical programs for immuno-oncology, fibrosis and anemia.