Scholar Rock Holding Corp

The Company calculates basic net loss per share by dividing net loss by the weighted average number of common shares outstanding. The weighted average number of common shares used in the basic and diluted net loss per share calculation includes the pre-funded warrants issued in connection with the Company’s November 2020, June 2022 and October 2024 follow-on offerings as the pre-funded warrants are exercisable at any time for nominal cash consideration. The Company has generated a net loss in all periods presented, so the basic and diluted net loss per share are the same, as the inclusion of the potentially dilutive securities would be anti-dilutive.

The following table sets forth the outstanding common stock equivalents, presented based on amounts outstanding at each period end, that have been excluded from the calculation of diluted net loss per share for the periods indicated because their inclusion would have been anti-dilutive:

15. Segment Reporting

The Company operates and manages its business on a consolidated basis as asingle reportable andsingle operating segment for the purposes of assessing performance and making operating decisions. The Company’s chief executive officer, who is the chief operating decision maker (“CODM”), reviews the Company’s financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. When evaluating the Company’s financial performance, the CODM regularly reviews net loss. The CODM considers net loss in making decisions on how to allocate resources. Net loss is used to monitor budget versus actual results in an effort to refine forecasts and control costs. The measure of segment assets is reported on the balance sheet as total consolidated assets.

All of the Company’s material long-lived assets are held in the U.S., Ireland and Switzerland. Long-lived assets are comprised of property and equipment and operating lease right-of-use assets. As of September 30, 2026, long-lived assets based in the U.S. were $6.9 million and long-lived assets based in Ireland and Switzerland were $1.8 million. As of December 31, 2025, all of the Company’s material long-lived assets were held in the U.S.

The following table presents significant expense information about the Company’s operating segment (in thousands):

(1)

Excludes equity-based compensation expense.

(2)

Consists of other segment expenses related to supplies, corporate and facilities expenses.

16. Subsequent Events

On November 9, 2026, the Company entered into an asset purchase agreement (the “PRV Asset Purchase Agreement”) with BioNTech US Inc. (the “Buyer”), pursuant to which the Company agreed to sell its Rare Pediatric Disease Priority Review Voucher (“PRV”) to Buyer for $205.0 million in cash upon the closing of the sale. The Company received the PRV in connection with the FDA approval of ISEMBYLD in September 2026. The transaction remains subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.