Srinivas Akkaraju Buys About $12 Million in Scholar Rock Shares

Key Facts

Srinivas Akkaraju, a Scholar Rock board member and owner of more than 10% of the company, bought shares worth about $12 million, according to a Form 4 disclosure filed on October 27. The filing is dated October 23 and records changes in beneficial ownership. It said Akkaraju exercised voting and investment authority over shares held through Samsara BioCapital and Samsara Opportunity Fund. It also said he disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest in them. The document identifies the buyer, his role and his connection to the shares, without offering a judgment on the deal’s motives or his valuation of the company.

The company’s shares, which trade under the ticker SRRK, closed at $42.49 on October 27, compared with $41.71 in the previous session, according to EL7 data. The transaction was recorded as the company moves from developing its treatment to making its product available following U.S. approval. The disclosure itself does not establish that the purchase reflects Akkaraju’s view of the stock’s value or the company’s prospects. The drugmaker’s current focus is on its spinal muscular atrophy treatment and its path to reaching patients, alongside preparations to expand beyond the United States. These developments place the ownership disclosure in the context of an important commercial and regulatory phase for the company.

Scholar Rock said the U.S. Food and Drug Administration approved ISEMBYLD, whose generic name is apitegromab-mstn, on September 11 to treat spinal muscular atrophy in adults and children aged 2 years and older. The indication includes patients receiving SMN2-directed treatment. The company cites results from the Phase 3 SAPPHIRE trial, which showed a 2.2-point improvement on the HFMSE motor function scale versus placebo after one year among patients who received the recommended dose alongside SMN2-directed treatment. That figure provides clinical context for the U.S. approval, measuring the change in motor function over the treatment period. The company says its focus now extends to making the treatment available to patients already receiving SMN-directed treatment.

In Europe, Scholar Rock resubmitted its marketing authorization application for apitegromab and expects an opinion from the Committee for Medicinal Products for Human Use in the first half of 2027. Chairman and Chief Executive David Hallal said the company is working to make the muscle-targeted treatment available to spinal muscular atrophy patients in Europe. Hallal linked the effort to the more than 35,000 patients worldwide receiving SMN-directed treatment, according to the company’s October 8 announcement. He said the company’s goal is to "deliver apitegromab to more than 35,000 spinal muscular atrophy patients worldwide who are receiving SMN-directed treatment." The committee’s opinion remains an anticipated milestone ahead of any European Commission decision on the application.

The company said it has available inventory at an alternative facility, and that treatment vials are with a third-party service provider awaiting packaging and labeling. It described these supplies as ready for commercialization following European Commission approval, tying product readiness to a regulatory step that has not yet been completed. This is part of the company’s preparations for European availability as it reviews the resubmitted application. The company’s announcement did not set a date for that approval, while it identified the first half of 2027 as the expected timing for the next regulatory milestone, an opinion from the Committee for Medicinal Products for Human Use. Investors are also awaiting Scholar Rock’s third-quarter 2026 financial results, due November 10.