In at­tempt­ed bear mar­ket brush­back, SMA play­er Schol­ar Rock nabs $205M raise on open-la­bel ex­ten­sion da­ta

One month af­ter telling the SEC it would lay off about a fourth of its staff, Schol­ar Rock is fol­low­ing the blue­print laid out by oth­er pub­lic biotechs dur­ing the bear mar­ket: rais­ing some big cash on the heels of a da­ta read­out.

The Cam­bridge, MA-based com­pa­ny an­nounced Fri­day morn­ing it plans to raise $205 mil­lion in a pub­lic of­fer­ing af­ter tout­ing two-year Phase II da­ta in spinal mus­cu­lar at­ro­phy as pos­i­tive, al­so on Fri­day. The fig­ure rep­re­sents more mon­ey than Schol­ar Rock’s mar­ket cap at Thurs­day’s clos­ing, which clocked in at $171.6 mil­lion.

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