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Why Scholar Rock Shares Dropped Despite Positive Apitegromab Data In Spinal Muscular Atrophy

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  • Scholar Rock (NASDAQ: SRRK) shares dropped despite the company reporting positive 12-month data on spinal muscular atrophy (SMA) candidate apitegromab.

  • The 12-month update was broadly in line with the six-month data that was announced in October last year. Most effects observed at six months have proven to be durable at 12 months.

  • In some cases, the efficacy results improved between the six and 12-month readouts.

  • A cohort of children with type 2 SMA aged two years and older who began treatment with Biogen Inc (NASDAQ: BIIB) / Ionis Pharmaceuticals Inc’s (NASDAQ: IONS) Spinraza (nusinersen) before turning five years old showed a mean improvement of 7.1 points on a motor scale after receiving 20-mg/kg infusions of apitegromab on top of their existing therapy.

  • In the 2 mg/kg dose arm, an improvement of 5.3-point was reported.

  • At six months, the improvement was 5.6 points and 2.4 points in 20 mg/kg and 2 mg/kg groups, respectively.

  • 35% of the low and high-dose arm participants experienced at least a 10-point improvement on the motor function scale at 12 months. 59% of patients had a 5-point increase.

  • The two other cohorts lacked such evidence of enhanced responses.

  • In patients with type 2 or non-ambulatory type 3 SMA who began treatment with Spinraza aged five years or older, the mean increase on the motor scale at 12 months was 1.2 points. It excludes a patient who missed three apitegromab doses due to COVID-19 restrictions. At six months, the mean increase across the full cohort was 1.4 points.

  • A third cohort saw a worsening of the scores from six to 12 months. On another disease scale, the ambulatory type 3 SMA patients improved by 0.5 points after six months.

  • By 12 months, the group had experienced a mean decline of 0.3 points.

  • Numerical declines in the proportion of patients with three and five-point improvements were tracked.

  • Scholar Rock is now gearing up to evaluate apitegromab through a Phase 3 study set to start by the end of the year.

  • Price Action: SRRK shares are down 14.3% at $38.68 during the market trading session on the last check Tuesday.

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