Scholar Rock Shares Quadruple On Positive Drug-Study Results

Shares of biotech company Scholar Rock saw a dramatic increase on Monday, with the stock price more than quadrupling. This surge added approximately $1.9 billion to the company's market valuation. The rise in share price followed Scholar Rock's announcement that its drug, apitegromab, showed significant success in improving motor function in children with spinal muscular atrophy. These improvements were evident in movements such as standing and walking, observed during a final late-stage clinical trial. Scholar Rock intends to pursue approval in the U.S. and European Union for this treatment in the first quarter of the coming year.