Amgen to Acquire Scholar Rock for $4.9 Billion
Ticker: SRRK · Form: 8-K · Filed: Mar 19, 2024 · CIK: 1727196
Sentiment: bullish
Topics: acquisition, biotech, merger
Related Tickers: AMGN
TL;DR
Amgen buying Scholar Rock for $4.9B cash ($20/share) - deal expected H2 2024.
AI Summary
Scholar Rock Holding Corp. announced on March 19, 2024, that it has entered into a definitive agreement to be acquired by Amgen Inc. for $20.00 per share in cash, representing a total equity value of approximately $4.9 billion. This transaction is expected to close in the second half of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by Amgen, a major biotechnology company, could significantly impact the development and commercialization of Scholar Rock's pipeline, particularly its muscle growth and regeneration programs.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, including regulatory approvals, which could delay or prevent the deal from closing.
Key Numbers
- $4.9B — Total Equity Value (Represents the total value of Scholar Rock Holding Corp. in the acquisition by Amgen Inc.)
- $20.00 — Per Share Price (The cash amount each Scholar Rock shareholder will receive per share.)
Key Players & Entities
- Scholar Rock Holding Corp. (company) — Company being acquired
- Amgen Inc. (company) — Acquiring company
- $20.00 (dollar_amount) — Per share acquisition price
- $4.9 billion (dollar_amount) — Total equity value of the acquisition
- March 19, 2024 (date) — Date of the definitive agreement announcement
- second half of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the total value of the acquisition of Scholar Rock Holding Corp. by Amgen Inc.?
The total equity value of the acquisition is approximately $4.9 billion.
What is the per share price offered by Amgen Inc. for Scholar Rock Holding Corp.?
Amgen Inc. is offering $20.00 per share in cash for Scholar Rock Holding Corp.
When is the acquisition of Scholar Rock Holding Corp. by Amgen Inc. expected to close?
The transaction is expected to close in the second half of 2024.
What are the main therapeutic areas Scholar Rock focuses on that might be of interest to Amgen?
Scholar Rock's pipeline includes programs focused on muscle growth and regeneration, which are likely key drivers for Amgen's interest.
Are there any specific regulatory hurdles mentioned for the Amgen-Scholar Rock deal?
The filing states the transaction is subject to customary closing conditions, which would include obtaining necessary regulatory approvals.
Filing Stats: 521 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-03-19 07:07:11
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share SRRK Nasdaq Global Select
Filing Documents
- tm249126d1_8k.htm (8-K) — 22KB
- tm249126d1_ex99-1.htm (EX-99.1) — 58KB
- 0001104659-24-035865.txt ( ) — 260KB
- srrk-20240319.xsd (EX-101.SCH) — 3KB
- srrk-20240319_lab.xml (EX-101.LAB) — 33KB
- srrk-20240319_pre.xml (EX-101.PRE) — 22KB
- tm249126d1_8k_htm.xml (XML) — 4KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On March 19, 2024, Scholar Rock Holding Corporation (the "Company") issued a press release announcing its financial and operating results for the year ended December 31, 2023. A copy of the press release is being furnished as Exhibit 99.1 to this Report on Form 8-K. The information in this Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release issued by the Company on March 19, 2024, furnished hereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Scholar Rock Holding Corporation Date: March 19, 2024 By: /s/ Junlin Ho Junlin Ho General Counsel and Corporate Secretary