Scholar Rock widens FY2025 net loss to $377.9M; corrects Q4 EPS to $0.76; BLA resubmission path cleared

Scholar Rock Holding Corp

Q4 2025 net loss of $91.0M ($0.76 per share, corrected); FY2025 net loss $377.9M ($3.29 per share), up from $246.3M in 2024.
No revenue; cash, equivalents, and marketable securities of $367.6M as of Dec 31, 2025.
Apitegromab BLA resubmission expected in 2026 after FDA constructive meeting with Catalent Indiana; no additional corrective actions.
New debt facility up to $550M from Blue Owl Capital provides non-dilutive capital; $100M drawn at closing, $100M available Q1 2026, $150M upon FDA approval.
EMA decision on MAA expected mid-2026; European launch planned H2 2026 starting with Germany.

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