Scholar Rock Provides Corporate Update and Highlights Priorities for 2023

On January 9, 2023 Scholar Rock (NASDAQ: SRRK), a Phase 3 clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role, reported its recent corporate updates and highlighted upcoming priorities for its pipeline programs in 2023 (Press release, Scholar Rock, JAN 9, 2023, View Source [SID1234626106]).

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"In 2022, Scholar Rock made significant progress in advancing its clinical programs, notably with the 24-month extension data from the Phase 2 TOPAZ trial, which reinforces our conviction behind apitegromab and the Phase 3 SAPPHIRE trial, and with early data readouts from the Phase 1 DRAGON trial. The company also strengthened its financials in June 2022 with a substantial equity raise. We are excited by the potential coming from our highly differentiated platform targeting growth factors like TGFβ, as we advance our spinal muscular atrophy and oncology programs to address critical unmet needs for patients," said Dr. Jay Backstrom, M.D., M.P.H., President & CEO of Scholar Rock. "In 2023, we see continued momentum for our growing pipeline, including completing enrollment of our pivotal SAPPHIRE trial, disclosing 36-month extension data from the Phase 2 TOPAZ trial and clinical and biomarker updates from the SRK-181 Phase 1 DRAGON trial, and advancing two preclinical assets towards IND-enabling studies in fibrosis and iron-restricted anemia."

2023 Priorities:

Apitegromab is a selective inhibitor of myostatin activation being developed as the potential first muscle-targeted therapy for the treatment of spinal muscular atrophy (SMA).

Complete enrollment of Phase 3 SAPPHIRE clinical trial in 2023. SAPPHIRE is a randomized, double-blind, placebo-controlled clinical trial evaluating apitegromab for patients with nonambulatory Types 2 and 3 SMA on either nusinersen or risdiplam. The last patient is expected to be enrolled in SAPPHIRE in 2023, with the top-line data readout expected in 2024. If successful, the company expects to initiate a commercial product launch in 2025.
Progress TOPAZ long-term extension to 36-month data readout. The company expects to report 36-month extension data in the first half of 2023. As of December 31, 2022, approximately 90 percent of patients (51/57) remained enrolled in the trial’s long-term extension period.

SRK-181 is an investigational selective inhibitor of latent TGFβ-1 activation and is being developed with the aim of overcoming resistance to checkpoint therapy in patients with advanced cancer.

Advance Progress in DRAGON Phase 1 trial. Scholar Rock is expecting to provide biomarker and clinical updates from the DRAGON Phase 1 trial in 2023.

Preclinical fibrosis and iron-restricted anemia assets

Advance the fibrosis program towards IND-enabling studies. Scholar Rock plans to advance a highly potent, anti-latent TGFβ-1 antibody that selectively inhibits TGFβ1 activation within the extracellular matrix by targeting latent TGFβ-1 associated with latent TGFβ-binding proteins (LTBPs), thus enabling specific inhibition of TGFβ-1 in fibrotic tissue.
Advance the iron-restricted anemia program towards IND-enabling studies. Scholar Rock plans to advance a highly selective, RGMc/HJV antibody that targets the signaling of BMP6, a key regulator of iron availability in the body. Utilizing Scholar Rock’s unique structural biology insights into BMP6 and its co-receptors and leveraging its novel antibody discovery and optimization platform, the company generated an anti-RGMc antibody that can modulate iron release and has the potential to address anemia.

2022 Highlights:

TOPAZ 24-month extension trial data showed sizeable and sustained gains in Hammersmith Functional Motor Scale Expanded (HFMSE), increased Revised Upper Limb Module (RULM), and positive trends in quality-of-life data for nonambulatory patients with Types 2 and 3 SMA receiving an SMN-targeted therapy.

Completed equity financing of $205 million in June. As of December 31, 2022, Scholar Rock had cash, cash equivalents, and marketable securities of approximately $315 million, which is expected to fund the company’s operations into 2025.
Phase 1 DRAGON trial data presented at the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper)’s Annual Meeting in November showed that SRK-181 continued to be generally well tolerated with early indications of efficacy (as of the data cut-off date of August 29, 2022).

Presented new data on LTBP showing reduction of TGFβ-1 signaling and fibrosis in relevant in vivo preclinical models. The findings were presented at the 2022 FASEB Science Research Conference in July and the American College of Toxicology Annual Meeting in November.

Announced Jay Backstrom, M.D., M.P.H. was appointed President & CEO in October, bringing an exceptional range of research and development, regulatory, and leadership experience spanning several decades in the biopharmaceutical industry.

Announced Jing L. Marantz, M.D., Ph.D., M.B.A., was appointed Chief Medical Officer in November. Dr. Marantz is an accomplished biopharmaceutical executive with over 20 years of industry experience spanning multiple specialties, including neurology, hematology/oncology, and rare diseases.
"With our strong balance sheet and two well established clinical programs, both of which we expect to generate data in 2023, Scholar Rock is uniquely positioned to bring differentiated therapies to patients suffering from serious diseases in which protein growth factors play a fundamental role," said Ted Myles, Chief Operating Officer and Chief Financial Officer.

Sarepta Therapeutics Reports Preliminary* Fourth Quarter and Full-Year 2022 Net Product Revenues

On January 9, 2023 Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, reported preliminary* fourth quarter and full-year 2022 net product revenues as part of their presentation today at the 41st Annual J.P. Morgan Healthcare Conference (Press release, Sarepta Therapeutics, JAN 9, 2023, View Source [SID1234626104]).

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Financial Update* (preliminary and unaudited):

Fourth quarter 2022 net product revenues are expected to be approximately $235.5 million, a 32% increase over the same period in 2021. Our net product revenues do not include collaboration revenues.

Net product revenues for the full-year 2022 are expected to be $843.3 million, a 38% increase over the same period of 2021, which is also expected to exceed Sarepta’s net product revenue guidance of $825-840 million. Our expected net product revenues do not include collaboration revenues.

As of December 31, 2022, the Company had preliminary cash, cash equivalents, restricted cash and investments of approximately $2.0 billion, as compared to approximately $2.1 billion as of December 31, 2021.

"We are pleased to have closed out 2022 on an extremely strong note with continued execution across our three RNA-based PMO therapies, delivering net product revenue that is expected to exceed our upwardly revised guidance range. These preliminary results reflect the mission-driven dedication and expertise of our teams to serve the nearly 30% of Duchenne patients who are amenable to one of our approved therapies," said Doug Ingram, president and chief executive officer, Sarepta Therapeutics.

*These preliminary selected financial results are unaudited and subject to adjustment. Sarepta will report its final and complete fourth quarter and full-year 2022 financial results in late February 2023. The Company has not completed its financial closing procedures for the quarter or year ended December 31, 2022 and its actual results could be materially different from these preliminary financial results.

Deep Insights advancing Impactful medicines

On January 9, 2023 Scholar rock presented its corporate presentation (Presentation, Scholar Rock, JAN 9, 2023, View Source [SID1234626105]).

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ROYALTY PHARMA HIGHLIGHTS ACCOMPLISHMENTS AND PROVIDES BUSINESS UPDATE AT 41ST ANNUAL J.P. MORGAN HEALTHCARE CONFERENCE

On January 9, 2023 Royalty Pharma plc (Nasdaq: RPRX) reported an update on its business performance, including recent key accomplishments and the full year 2022 outlook for Net cash provided by operating activities (GAAP financial measure) and Adjusted Cash Receipts(1) (non-GAAP financial measure). Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer, will discuss these updates today as part of a webcast presentation at the 41st Annual J.P. Morgan Healthcare Conference to be held at 11:15 a.m. Eastern Time / 8:15 a.m. Pacific Time (Press release, Royalty Pharma , JAN 9, 2023, View Source [SID1234626103]).

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"Royalty Pharma delivered outstanding performance in 2022," said Pablo Legorreta. "We deployed substantial capital and added royalties on six new therapies, ranging from an approved, growing blockbuster to exciting development-stage therapies in areas of high unmet patient need. Further, we hosted our inaugural Investor Day, highlighting our talented team, the unique strength of our business model, and our strategy to drive long-term, compounding growth. Lastly, we expect to achieve the upper end of our 2022 financial guidance, putting us in a strong position to accelerate innovation in life sciences and transform patient lives globally."

Strong 2022 Financial Performance

Based on preliminary unaudited fourth quarter 2022 results, Royalty Pharma expects Net cash provided by operating activities (GAAP) to be approximately $2,140 million to $2,150 million for full year 2022. Additionally, Royalty Pharma now expects to deliver Adjusted Cash Receipts(1) (non-GAAP) for full year 2022 of approximately $2,785 million to $2,790 million, which is towards the upper end of its guidance range of $2,750 million to $2,800 million and represents growth of 31% year-over-year. This strong double-digit growth in Adjusted Cash Receipts reflects the strong performance of Royalty Pharma’s diversified royalty portfolio as well as the acceleration of payments related to Pfizer’s acquisition of Biohaven. Importantly, the growth in Adjusted Cash Receipts was achieved despite a significant decline in two of Royalty Pharma’s largest royalties in previous years, the HIV and DPP-IV franchises, highlighting the resilience of the business model with a unique ability to grow through royalty expirations.

Royalty Pharma’s preliminary unaudited fourth quarter 2022 results provided in this press release are subject to change in connection with the completion of the company’s final closing procedures, final adjustments and other developments that may arise in the course of the preparation or audit of its financial statements. Royalty Pharma’s management will host a conference call to discuss Royalty Pharma’s fourth quarter and full year 2022 results in February.

Corporate presentation

On January 9, 2023 Rocket pharmaceutical presented its corporate presentation (Presentation, Rocket Pharmaceuticals, JAN 9, 2023, View Source [SID1234626102]).

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