$SRRK
Scholar Rock Holding Corp

2024 Q4 Form 10-Q Financial Statement

#000155837024015155 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $48.72M
YoY Change 60.59%
% of Gross Profit
Depreciation & Amortization $446.0K
YoY Change -37.18%
% of Gross Profit
Operating Expenses $64.78M
YoY Change 48.33%
Operating Profit -$64.78M
YoY Change 48.33%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $301.0K
YoY Change -77.08%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$64.48M
YoY Change 52.22%
Net Earnings / Revenue
Basic Earnings Per Share -$0.66
Diluted Earnings Per Share -$0.66
COMMON SHARES
Basic Shares Outstanding 93.61M 80.03M
Diluted Shares Outstanding 97.05M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $139.1M
YoY Change -36.38%
Cash & Equivalents $76.39M
Short-Term Investments $62.67M
Other Short-Term Assets $12.74M
YoY Change 30.02%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $152.9M
YoY Change -33.06%
LONG-TERM ASSETS
Property, Plant & Equipment $3.156M
YoY Change -40.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.809M
YoY Change 185.96%
Total Long-Term Assets $26.21M
YoY Change 17.92%
TOTAL ASSETS
Total Short-Term Assets $152.9M
Total Long-Term Assets $26.21M
Total Assets $179.1M
YoY Change -28.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.071M
YoY Change 106.86%
Accrued Expenses $29.26M
YoY Change 68.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.37M
YoY Change 47.3%
LONG-TERM LIABILITIES
Long-Term Debt $50.10M
YoY Change 0.28%
Other Long-Term Liabilities $10.47M
YoY Change 66.13%
Total Long-Term Liabilities $50.10M
YoY Change 0.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.37M
Total Long-Term Liabilities $50.10M
Total Liabilities $99.94M
YoY Change 20.37%
SHAREHOLDERS EQUITY
Retained Earnings -$856.3M
YoY Change 35.86%
Common Stock $80.00K
YoY Change 42.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.20M
YoY Change
Total Liabilities & Shareholders Equity $179.1M
YoY Change -28.54%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$64.48M
YoY Change 52.22%
Depreciation, Depletion And Amortization $446.0K
YoY Change -37.18%
Cash From Operating Activities -$52.46M
YoY Change 62.5%
INVESTING ACTIVITIES
Capital Expenditures $31.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $35.34M
YoY Change -517.23%
Cash From Investing Activities $35.31M
YoY Change -516.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 166.0K
YoY Change -40.71%
NET CHANGE
Cash From Operating Activities -52.46M
Cash From Investing Activities 35.31M
Cash From Financing Activities 166.0K
Net Change In Cash -16.98M
YoY Change -58.04%
FREE CASH FLOW
Cash From Operating Activities -$52.46M
Capital Expenditures $31.00K
Free Cash Flow -$52.49M
YoY Change 62.6%

Facts In Submission

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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
66269000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5223000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
6106000
us-gaap Payments Of Debt Restructuring Costs
PaymentsOfDebtRestructuringCosts
125000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
677000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
819000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
3000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6658000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6045000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25464000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-35563000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
104262000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105773000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78798000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70210000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
22000
srrk Operating Lease Liability Adjustment From Rent Modification
OperatingLeaseLiabilityAdjustmentFromRentModification
9451000
us-gaap Interest Paid Net
InterestPaidNet
5003000
us-gaap Interest Paid Net
InterestPaidNet
4743000
us-gaap Net Income Loss
NetIncomeLoss
-179800000
us-gaap Net Income Loss
NetIncomeLoss
-119700000
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-856300000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76391000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67598000
CY2024Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2407000
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78798000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70210000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 10pt 0pt;"><span style="font-style:normal;font-weight:normal;">The preparation of financial statements in accordance with accounting principles generally accepted in the U.S. (“GAAP”) requires management to make estimates and judgments that may affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the related reporting of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.</span></p>
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62546000
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
128000
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
62674000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
177991000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
93000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
178083000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
0
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
11900000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
0
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
3
CY2024Q3 srrk Prepaid External Research And Development Expense Current
PrepaidExternalResearchAndDevelopmentExpenseCurrent
8876000
CY2023Q4 srrk Prepaid External Research And Development Expense Current
PrepaidExternalResearchAndDevelopmentExpenseCurrent
4059000
CY2024Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
2706000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
2281000
CY2024Q3 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
1120000
CY2023Q4 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
1076000
CY2024Q3 us-gaap Prepaid Insurance
PrepaidInsurance
739000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
635000
CY2024Q3 srrk Prepaid Professional Consulting
PrepaidProfessionalConsulting
421000
CY2023Q4 srrk Prepaid Professional Consulting
PrepaidProfessionalConsulting
205000
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13862000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8256000
CY2024Q3 srrk Prepaid External Research And Development Expense Noncurrent
PrepaidExternalResearchAndDevelopmentExpenseNoncurrent
3397000
CY2023Q4 srrk Prepaid External Research And Development Expense Noncurrent
PrepaidExternalResearchAndDevelopmentExpenseNoncurrent
4074000
CY2024Q3 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
394000
CY2023Q4 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
312000
CY2024Q3 srrk Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
18000
CY2023Q4 srrk Prepaid Insurance Noncurrent
PrepaidInsuranceNoncurrent
31000
CY2024Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3809000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4417000
CY2024Q3 srrk Accrued External Research And Development Expense
AccruedExternalResearchAndDevelopmentExpense
15040000
CY2023Q4 srrk Accrued External Research And Development Expense
AccruedExternalResearchAndDevelopmentExpense
6825000
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9969000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10591000
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3420000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2267000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
831000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
766000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
29260000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
20449000
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9650000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7203000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27126000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20191000
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
75457000
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1714000
us-gaap Operating Lease Cost
OperatingLeaseCost
5290000
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
363000
us-gaap Variable Lease Cost
VariableLeaseCost
1086000
CY2024Q3 us-gaap Lease Cost
LeaseCost
2077000
us-gaap Lease Cost
LeaseCost
6376000
us-gaap Operating Lease Payments
OperatingLeasePayments
6000000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.131
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22214517
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19963200
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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