Scholar Rock seeks equity raise after stock skyrockets over 300%
** Biopharma firm Scholar Rock SRRK.O looks to capitalize on its soaring stock price by raising equity
** SRRK skyrocketed 362% to close at nearly 3-yr high $34.28 on Mon after co's drug, apitegromab, achieved main target in late-stage study for spinal muscular atrophy
** After the bell, co commences $275 mln equity offering comprising shares and pre-funded warrants
** Co plans to use net proceeds to fund commercialization of apitegromab, and advance clinical programs and preclinical pipeline
** JP Morgan, Jefferies and Piper Sandler leading the offering
** Co has 80 mln shares outstanding giving it ~$2.7 bln current market cap, per LSEG
** SRRK dipping 2.1% in extended trading to $33.55
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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