Scholar Rock Holding Corp
For the period ended Sep 30, 2026. Filed Nov 10, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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11. Leases
Operating Lease
In November 2019, the Company entered into a lease of office and laboratory space at 301 Binney Street in Cambridge, Massachusetts to be used as its new corporate headquarters (the “Lease”). The expiration date of the Lease was originally in August 2025 and included anoption to extend the term bytwo years. The base rent under the original Lease was $6.9 million per year, subject to an annual increase of 3.5%. Variable lease payments include the Company’s allocated share of costs incurred and expenditures made by the landlord in the operation and management of the building. The Lease included incentives of $14.1 million in the form of an allowance for tenant improvements related to the design and build out of the space. In connection with the Lease, the Company has secured a letter of credit for $2.3 million which renews automatically each year.
In May 2024, the Company entered into the First Amendment (the “Lease Amendment”) to the Lease to extend the term for approximatelytwo years, commencing on August 19, 2025 (the “First Extension Term”) with the base rent to start at approximately $6.2 million per year, followed by a 3% annual increase. Pursuant to the Lease Amendment, the Company also has anoption to extend the term of the Lease byfive years, upon the expiration of the First Extension Term.
In October 2025, the Company entered into a lease of office space in Zug, Switzerland (the “2025 Switzerland Lease”). The 2025 Switzerland Lease commencement date was January 1, 2026, which is when the Company gained access to the space under the terms of the lease. The 2025 Switzerland Lease had an expiration date of December 31, 2029, with a minimum term oftwelve months. The base rent under the 2025 Switzerland Lease was CHF 276,000 per year.
In July 2026, the Company entered into a new lease agreement for office space in Zug, Switzerland (the “2026 Switzerland Lease”), which replaces the 2025 Switzerland Lease. The 2026 Switzerland Lease commenced on September 1, 2026, which is when the Company gained access to the space under the terms of the lease. Upon commencement of the 2026 Switzerland Lease, the 2025 Switzerland Lease was terminated. The 2026 Switzerland Lease has an indefinite term with a minimum non-cancelable period through February 28, 2029. Thereafter, the lease may be terminated by either party uponsix months’ written notice. The base rent under the 2026 Switzerland Lease is CHF 621,000 per year.
Other information related to the leases are as follows (in thousands, except lease term and discount rate):
| Three Months Ended September 30, · Nine Months Ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2026 · 2025 · 2026 · 2025 | ||||||||
| Lease cost: | ||||||||
| Operating lease cost | $ | 1,844 | $ | 1,714 | $ | 5,461 | $ | 5,142 |
| Variable lease cost | 407 | 381 | 1,262 | 1,153 | ||||
| Total lease cost | $ | 2,251 | $ | 2,095 | $ | 6,723 | $ | 6,295 |
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Other information: | ||
| Operating cash flows used for operating leases | $5,116 | $5,779 |
| Weighted average remaining lease term | 1.3 | 1.9 |
| Weighted average incremental borrowing rate | 10.9% | 13.1% |
- Commitments and Contingencies
Legal Proceedings
The Company, from time to time, may be party to litigation arising in the ordinary course of its business. Although the results of litigation and claims cannot be predicted with certainty, the Company does not believe they are party to any claim or litigation the outcome of which, if determined adversely to the Company, would individually or in the aggregate be reasonably expected to have a material adverse effect on the Company’s business.
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