Amgen Acquires Scholar Rock for $4.9B

Ticker: SRRK · Form: 8-K · Filed: Oct 7, 2024 · CIK: 1727196

Sentiment: bullish

Topics: acquisition, biotech, merger

Related Tickers: AMGN

TL;DR

Amgen buying Scholar Rock for $20/share cash, deal worth $4.9B, expected to close H1 2025.

AI Summary

Scholar Rock Holding Corp. announced on October 7, 2024, that it has entered into a definitive agreement to be acquired by Amgen Inc. for $20.00 per share in cash. This transaction is valued at approximately $4.9 billion. The acquisition is expected to close in the first half of 2025, subject to customary closing conditions.

Why It Matters

This acquisition by Amgen, a major biotechnology company, signifies a significant consolidation in the biotech sector and highlights the value of Scholar Rock's pipeline, potentially impacting the development of new therapies.

Risk Assessment

Risk Level: medium — The deal is subject to customary closing conditions and regulatory approvals, which could delay or prevent its completion.

Key Numbers

Key Players & Entities

FAQ

What is the primary reason for Amgen's acquisition of Scholar Rock?

While not explicitly stated in this filing snippet, acquisitions of this nature typically occur due to the acquiring company's interest in the target company's pipeline, technology, or market position. Scholar Rock is known for its novel approach to targeting growth factors.

What are the key conditions for the acquisition to be completed?

The acquisition is subject to customary closing conditions, which generally include regulatory approvals and shareholder approval, among other standard terms.

When is the acquisition expected to be finalized?

The transaction is anticipated to close in the first half of 2025.

What is the total value of the transaction?

The definitive agreement values Scholar Rock at approximately $4.9 billion.

What is the price per share being offered to Scholar Rock shareholders?

Amgen has agreed to acquire Scholar Rock for $20.00 per share in cash.

Filing Stats: 623 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-10-07 08:00:33

Key Financial Figures

Filing Documents

01. Regulation

Item 7.01. Regulation FD Disclosure. On October 7, 2024, Scholar Rock Holding Corporation (the "Company") issued a press release announcing positive topline data from its Phase 3 SAPPHIRE trial evaluating apitegromab, an investigational fully human monoclonal antibody that inhibits myostatin, and plans to submit a U.S. Biologics License Application and European Union marketing authorization application in the first quarter of 2025. A copy of the press release is attached hereto as Exhibit 99.1. The information in this Item 7.01 of Form 8-K, including the accompanying Exhibit 99.1, 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 liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.

01. Other

Item 8.01. Other Events. The Company has also made available a slide presentation relating to topline data from its Phase 3 SAPPHIRE trial evaluating apitegromab for the potential treatment of spinal muscular atrophy, a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. The Company undertakes no obligation to update, supplement or amend the materials attached hereto as Exhibit 99.2.

01. Financial

Item 9.01. Financial (d) Exhibits Exhibit No. Description 99.1 Press Release issued by the Company on October 7, 2024, furnished herewith. 99.2 Presentation Slide Deck 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: October 7, 2024 By: /s/ Junlin Ho Junlin Ho General Counsel and Corporate Secretary

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