Biopharmaceutical company Scholar Rock Holding Corporation (Nasdaq:SRRK) revealed on Wednesday that it has priced its public offering of 2,948,718 shares of its common stock at a public offering price of USD39.00 per share.

Additionally, the company is offering pre-funded warrants to purchase 2,179,487 common shares at a purchase price of USD38.9999 per pre-funded warrant. The aggregate gross proceeds are expected to be approximately USD200m, before deducting underwriting discounts and commissions and other estimated offering expenses.

The company has provided the underwriters with a 30-day option to purchase up to an additional 769,230 shares of common stock at the public offering price per share of the common stock, less the underwriting discounts and commissions.

Scholar Rock intends to use the net proceeds from the offering to advance SRK-015 in Spinal Muscular Atrophy, including costs associated with preparing for and executing clinical trials (including a Phase 3 clinical trial), SRK-181 in cancer immunotherapy, development of its preclinical and discovery programmes, as well as for working capital and other general corporate purposes.

J.P. Morgan Securities LLC, Jefferies LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering. The offering is expected to close on 2 November 2020, subject to the satisfaction of customary closing conditions.