Scholar Rock Holding Corp. seeks to offer 5,360,000 of its common shares in its IPO for a price between $13 and $15 per share.
The company has also granted the underwriters an option to buy up to 804,000 additional shares.
Scholar Rock has applied to list its common stock on the Nasdaq Global Market under the symbol SRRK.
At an assumed price of $14 per share, net proceeds are expected to be about $67.5 million, or about $78.0 million if the underwriters fully exercise their option to buy additional shares.
The company plans to use the net proceeds from the offering with cash, cash equivalents and marketable securities, to provide $35.0 million in funding for research and development activities for SRK-015 through its planned phase 2 clinical proof of concept trial.
In addition, $18.0 million of the proceeds will be used to fund TGFb1, BMP6 and other preclinical research and development activities. The remaining funds will be used for working capital and other general corporate purposes.
Jefferies LLC, Cowen and Co. LLC, BMO Capital Markets Corp. and Wedbush Securities Inc. are acting as underwriters for the IPO.
Cambridge, Mass.-based Scholar Rock Holding is a biopharmaceutical company focusing on discovering and developing various medicines to treat serious diseases in which signaling by protein growth factors plays a fundamental role.
