Slide 1: Positive Ph2 EMBRAZE Trial
Positive Ph2 EMBRAZE Trial © 2025 Scholar Rock, Inc. All rights reserved. June 18, 2025 Demonstrating Preservation of Lean Mass with Highly Selective Anti-Myostatin Inhibitor During Tirzepatide-Induced Weight Loss Exhibit 99.2
Slide 2: Today's Speakers
Today’s Speakers © 2025 Scholar Rock, Inc. All rights reserved. 2 David L. Hallal Chief Executive Officer Akshay Vaishnaw, M.D., Ph.D. President, Research & Development
Slide 3: Agenda
Agenda © 2025 Scholar Rock, Inc. All rights reserved. 3 TO P I C S P E A K E R Scholar Rock's Leading Anti-Myostatin Platform David L. Hallal Chief Executive Officer EMBRAZE Trial Results Akshay Vaishnaw, M.D., Ph.D. President of R&D Q&A Session
Slide 4: Forward-looking statements
Various statements in this presentation concerning the future expectations, plans and prospects of Scholar Rock Holding Corporation and Scholar Rock, Inc. (collectively, “Scholar Rock”), including without limitation, Scholar Rock’s expectations regarding its strategy, its product candidate selection
Slide 5: Scholar Rock is a Global Leader in Selectively Targeting Myostatin
Scholar Rock is a Global Leader in Selectively Targeting Myostatin Apitegromab’s Unique Upstream Mechanism of Action Sources: Long KK, et al. Hum Mol Genet. 2019;28:1076-1089; Pirruccello-Straub M, et al. Sci Rep. 2018;8:2292. Skeletal Muscle MEMBRANE ActRIIA/IIB Receptor Promyostatin INACTIVE Laten
Slide 6: Spinal Muscular Atrophy (SMA) Motor Neuron Degeneration and Muscle Atrophy
Spinal Muscular Atrophy (SMA) Motor Neuron Degeneration and Muscle Atrophy © 2025 Scholar Rock, Inc. All rights reserved. 6 Spinal Muscular Atrophy Motor neuron impairment and loss due to SMN genetic deficiency leads to muscle atrophy and weakness ...but do not directly address muscle atrophy SMN th
Slide 7: Positive Phase 3 SAPPHIRE Data: Apitegromab in SMA
Apitegromab-treated patients improved on HFMSE over 12 months compared to placebo patients (p=0.019) © 2025 Scholar Rock, Inc. All rights reserved. 7 • All SAPPHIRE patients randomized to apitegromab or placebo were on background SMN-targeted therapy (nusinersen or risdiplam) • Well tolerated safety
Slide 8: Significant Loss of Lean Body Mass with Tirzepatide
Significant Loss of Lean Body Mass with Tirzepatide Look, M., et al. Body composition changes during weight reduction with tirzepatide in the SURMOUNT-1 study of adults with obesity or overweight. Diabetes Obes Metab. 2025;1-10. DOI: 10.1111/dom.16275 *Tirzepatide group is pooled tirzepatide 5, 10,
Slide 9: EMBRAZE Demonstrated Improved Overall Body Composition with Apitegromab
O B E S I T Y EMBRAZE Demonstrated Improved Overall Body Composition with Apitegromab © 2025 Scholar Rock, Inc. All rights reserved. 9 Trial demonstrated ~30% of tirzepatide-induced weight loss was due to lean mass loss ENCOURAGING SAFETY PROFILE WEIGHT & FAT MASS LOSS CONSISTENT WITH GIP/GLP-1 MONO
Slide 10: Phase 2 EMBRAZE Trial Design: Treatment Over 24 Weeks
O B E S I T Y Phase 2 EMBRAZE Trial Design: Treatment Over 24 Weeks *Study designed allowed for semaglutide and tirzepatide. Due to expedited enrollment and timing of semaglutide clinical supply, all enrolled patients received tirzepatide. Apitegromab dose regimen will be 10 mg/kg Q4W, based on proj
Slide 11: Participant Demographics and Characteristics
O B E S I T Y Participant Demographics and Characteristics Randomized / ITT Population © 2025 Scholar Rock, Inc. All rights reserved. 1 1 Baseline demographics and disease characteristics were well balanced across treatment groups KEY TAKEAWAYS placebo + tirzepatide Q4W N=51 apitegromab 10 mg/kg Q4W
Slide 12: Combining with Apitegromab Significantly Improved Lean Mass Preservation
O B E S I T Y Combining with Apitegromab Significantly Improved Lean Mass Preservation Compared with Tirzepatide Alone Analysis based on participants who completed treatment and had a Week 24 DEXA scan. Means based on a linear regression model controlling for baseline lean body mass, baseline weight
Slide 13: Encouraging Safety Profile
O B E S I T Y Encouraging Safety Profile © 2025 Scholar Rock, Inc. All rights reserved. 1 3 Subjects With at Least 1, n(%) placebo + tirzepatide N=51 apitegromab 10mg/kg + tirzepatide N=51 AE 36 (70.6) 39 (76.5) Study Drug-Related AE 19 (37.3) 22 (43.1) Tirzepatide-Related AE 30 (58.8) 30 (58.8) SAE
Slide 14: EMBRAZE Proof-of-Concept Study Achieved Goals
S U M M A R Y EMBRAZE Proof-of-Concept Study Achieved Goals © 2025 Scholar Rock, Inc. All rights reserved. 1 4 apitegromab + tirzepatide % of Mass Loss from Fat Mass % of Mass Loss from Lean Mass 70% 30% 85% 15% placebo + tirzepatide 54.9% REDUCTION in lean mass loss versus tirzepatide alone (p=0.00
Slide 15: SRK-439 Significantly Increased Lean Mass At All Doses Tested in Nonhuman Primates
S U M M A R Y SRK-439 Significantly Increased Lean Mass At All Doses Tested in Nonhuman Primates • Data highlights potency of SRK-439, achieving maximum target engagement and maximum efficacy at the lowest dose tested • IND submission anticipated in 2H 2025 All tested doses of SRK-439 demonstrated a
Slide 16: Delivering on Our Priorities to Drive Long-Term Growth
Delivering on Our Priorities to Drive Long-Term Growth © 2025 Scholar Rock, Inc. All rights reserved. 16 US: PDUFA Sept 22; Execute Successful Commercial Launch* Efficient Commercial Build 1 2 3 Expand in Additional Rare, Severe & Debilitating Neuromuscular Diseases Apitegromab Regulatory Approvals
Slide 17: Q&A
Q&A © 2025 Scholar Rock, Inc. All rights reserved. 1 7