$SRRK

Scholar Rock Holding Corp

CIK:0001727196|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 58,234	$ 62,401	$ 110,048	$ 111,079
General and administrative	50,667	49,708	100,869	78,120
Total operating expenses	108,901	112,109	210,917	189,199
Loss from operations	(108,901)	(112,109)	(210,917)	(189,199)
Loss on extinguishment of debt	0	0	(3,337)	0
Interest income	4,093	3,411	7,028	7,641
Interest expense	(4,518)	(1,206)	(6,820)	(3,025)
Other expense, net	(570)	(127)	(1,360)	(171)
Total other income (expense), net	(995)	2,078	(4,489)	4,445
Net loss	$ (109,896)	$ (110,031)	$ (215,406)	$ (184,754)
Net loss per share, basic	$ (0.84)	$ (0.98)	$ (1.67)	$ (1.65)
Net loss per share, diluted	$ (0.84)	$ (0.98)	$ (1.67)	$ (1.65)
Weighted average common shares outstanding, basic	130,612,734	112,703,014	128,954,153	112,273,032
Weighted average common shares outstanding, diluted	130,612,734	112,703,014	128,954,153	112,273,032
Comprehensive loss:
Net loss	$ (109,896)	$ (110,031)	$ (215,406)	$ (184,754)
Other comprehensive income (loss):
Unrealized loss on marketable securities	(38)	(71)	(109)	(102)
Foreign currency translation adjustments	489	0	1,156	0
Total other comprehensive income (loss)	451	(71)	1,047	(102)
Comprehensive loss	$ (109,445)	$ (110,102)	$ (214,359)	$ (184,856)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (215,406)	$ (184,754)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	632	810
Amortization of debt discount and debt issuance costs	143	462
Loss on disposal of property and equipment	3	0
Equity-based compensation	37,907	37,846
Accretion of investment securities	(305)	(3,296)
Non-cash operating lease expense	3,059	2,533
Loss on extinguishment of debt	3,337	0
Unrealized foreign currency exchange rate losses	1,253	0
Change in operating assets and liabilities:
Prepaid expenses and other current assets	2,489	(10,053)
Other assets	1,785	(19)
Accounts payable	665	(8,991)
Accrued expenses	14,903	13,053
Operating lease liabilities	(2,873)	(3,207)
Net cash used in operating activities	(152,408)	(155,616)
Cash flows from investing activities:
Purchases of property and equipment	(69)	(486)
Purchases of marketable securities	(68,266)	(79,292)
Sales and maturities of marketable securities	57,500	199,798
Net cash provided by (used in) investing activities	(10,835)	120,020
Cash flows from financing activities:
Proceeds from stock option exercises	16,826	8,126
Proceeds from pre-funded and common warrant exercises	7,148	3,367
Proceeds from sale of common shares, net	160,774	0
Proceeds from debt facility	197,729	0
Payment of debt issuance costs	(2,515)	0
Proceeds from debt refinancing	0	24,668
Payment of long-term debt	(103,058)	(25,520)
Other	0	2
Net cash provided by financing activities	276,904	10,643
Net increase (decrease) in cash, cash equivalents and restricted cash	113,661	(24,953)
Effect of exchange rate on cash, cash equivalents and restricted cash	(97)	0
Cash, cash equivalents and restricted cash, beginning of period	327,334	180,285
Cash, cash equivalents and restricted cash, end of period	440,898	155,332
Supplemental disclosure for non-cash items:
Debt issuance costs in accrued expenses	463	0
Property and equipment purchases in accounts payable & accrued expenses	27	0
Right-of-use assets obtained in exchange for operating lease liabilities	1,297	0
Supplemental cash flow information:
Cash paid for interest	$ 4,398	$ 2,755

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 437,091	$ 323,527
Marketable securities	54,997	44,036
Prepaid expenses and other current assets	15,095	17,584
Total current assets	507,183	385,147
Property and equipment, net	1,166	1,705
Operating lease right-of-use asset	8,620	10,382
Restricted cash	3,807	3,807
Other long-term assets	2,767	3,231
Total assets	523,543	404,272
Current liabilities:
Accounts payable	10,995	10,303
Accrued expenses	54,931	39,566
Operating lease liability	6,316	5,550
Total current liabilities	72,242	55,419
Long-term portion of operating lease liability	1,314	3,656
Long-term debt	196,203	99,709
Total liabilities	269,759	158,784
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 300,000,000 shares authorized; 121,600,396 and 108,461,354 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	122	108
Additional paid-in capital	1,768,581	1,545,940
Accumulated other comprehensive income	1,141	94
Accumulated deficit	(1,516,060)	(1,300,654)
Total stockholders' equity	253,784	245,488
Total liabilities and stockholders' equity	$ 523,543	$ 404,272