Scholar Rock (NASDAQ:SRRK) reported a significant increase in annual spending on Tuesday, reflecting the heavy operational costs of transitioning from a purely clinical-stage firm to a commercial-ready biopharmaceutical entity.
The Cambridge, Massachusetts-based company, which focuses on myostatin biology to treat spinal muscular atrophy (SMA) and other neuromuscular conditions, reported a full-year net loss of $377.9 million for 2025.
This compares to a net loss of $246.3 million in 2024.
On a per-share basis, the annual loss widened to $3.29, up from $2.47 in the prior year.
The widening deficit was driven primarily by a surge in general and administrative (G&A) expenses, which reached $176.2 million for the year—more than double the $67.5 million spent in 2024.
This increase underscores the company’s aggressive investment in building the corporate and commercial infrastructure necessary to support the potential launch of its lead candidate, apitegromab.
For the fourth quarter, Scholar Rock reported a net loss of $91 million, or $0.88 per share.