Scholar Rock up 20% to $35.90 after offering, proceeds used in advancing trial

Shares of Scholar Rock are up 20% at $35.90 after the company announced an equity offering of $150M, stating that it "intends to use the net proceeds from the offering to advance SRK-015 in Spinal Muscular Atrophy, including costs associated with preparing for and executing clinical trials - including a Phase 3 clinical trial - SRK-181 in cancer immunotherapy, development of its preclinical and discovery programs, as well as for working capital and other general corporate purposes.