CAMBRIDGE, Mass., Sept. 22, 2022–(BUSINESS WIRE)–Scholar Rock (NASDAQ: SRRK), a Phase 3 clinical-stage biopharmaceutical company focused on treating serious diseases in which protein growth factors play a fundamental role, announced today that the Company made stock awards as a material incentive to an employee hired by Scholar Rock in September 2022.
The plan, approved by the Company’s Board of Directors on June 16, 2022, is solely for the purpose of granting stock awards to individuals who were not previously employees of Scholar Rock, or after a period of good faith non-employment, as an incentive material for such persons who take up employment with Scholar Rock, in accordance with Nasdaq Listing Rule 5635(c)(4).
Jay Backstrom, MD, MPH was granted a stock option on September 20, 2022 (the “Grant Date”) to purchase an aggregate of 1,000,000 common shares of the Company at an exercise price of $8.85 per share. The stock option award vests in respect of 25% of the common shares underlying the award on the first anniversary of the grant date and the remaining 75% of the common shares underlying the stock option award vest in 12 equal installments thereafter, subject to Dr . Backstrom’s continued service to the Company through the applicable exercise date.
About Scholar Rock
Scholar Rock is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of serious diseases in which protein growth factor signaling plays a fundamental role. Scholar Rock is building a pipeline of novel product candidates with the potential to transform the lives of patients suffering from a variety of devastating diseases, including neuromuscular disorders, cancer and fibrosis. Scholar Rock’s approach of targeting the molecular mechanisms of growth factor activation enabled the company to develop a proprietary platform for the discovery and development of monoclonal antibodies that locally and selectively target these signaling proteins at the cellular level. By developing product candidates that act in the disease microenvironment, the Company intends to avoid the historical challenges associated with inhibiting growth factors for therapeutic effect. Scholar Rock believes that its focus on biologically validated growth factors could enable a more efficient development path. For more information, please visit www.ScholarRock.com or follow Scholar Rock on Twitter (@ScholarRock) and LinkedIn (https://www.linkedin.com/company/scholar-rock/).
Scholar Rock® is a registered trademark of Scholar Rock, Inc.
Availability of more information about Scholar Rock
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