Welcome to our dedicated page for Solid Biosciences news (Ticker: SLDB), a resource for investors and traders seeking the latest updates and insights on Solid Biosciences stock.
Solid Biosciences Inc. (Nasdaq: SLDB) is a Cambridge, MA-based biotechnology company focused on developing treatments and cures for Duchenne muscular dystrophy (DMD), a genetic muscle-wasting disease. Solid Biosciences combines commercial acumen with top-tier science to advance promising therapies that address all aspects of DMD. The core of Solid's mission is to improve the daily lives of patients and target the roots of this debilitating condition.
The company's primary focus is on developing gene therapies and other treatments for neuromuscular and cardiac diseases. Their product pipeline includes:
- SGT-003: A next-generation gene therapy candidate for DMD, recently granted FDA clearance for an Investigational New Drug (IND) application. The therapy uses a proprietary capsid (AAV-SLB101) to deliver a microdystrophin transgene to promote muscle function and durability. The planned Phase 1/2 trial aims to evaluate the safety and tolerability of SGT-003 in pediatric patients.
- SGT-501: A treatment for catecholaminergic polymorphic ventricular tachycardia (CPVT), a fatal childhood disease.
- AVB-401: For the treatment of BAG3-mediated dilated cardiomyopathy.
- AVB-202-TT: Aimed at treating Friedreich’s ataxia.
Solid Biosciences has made significant strides in obtaining regulatory milestones. Recently, SGT-003 was granted Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation by the FDA, enhancing its potential marketability and support for clinical development.
The company has also been involved in strategic collaborations and financing activities. Notably, Solid entered a licensing agreement with Armatus Bio for the use of its AAV-SLB101 capsid, securing a non-exclusive worldwide license and upfront and milestone payments. In January 2024, they raised $108.9 million from a private placement to support ongoing pipeline development and business activities.
Financially, Solid Biosciences reported a net loss of $96.0 million for 2023 but expects its cash reserves and recent financing to fund strategic priorities into 2026. As of December 31, 2023, the company had $123.6 million in cash, cash equivalents, and available-for-sale securities.
For more detailed information, visit www.solidbio.com.
On January 6, 2023, Solid Biosciences Inc. (Nasdaq: SLDB) approved inducement awards for new CFO Kevin Tan. The grant includes an option to purchase 90,000 shares and a restricted stock unit for 45,000 shares, aligning with Nasdaq rules. The options have a ten-year term with an exercise price set at $6.00, the closing stock price on January 9, 2023. The vesting schedule is structured to promote retention, with 25% vested after one year and monthly vesting thereafter for the option, while the restricted stock units will vest over four years.
Solid Biosciences Inc. (Nasdaq: SLDB) has appointed Kevin Tan as Chief Financial Officer. With over 20 years of financial experience, Tan's expertise in capital markets and gene therapy is expected to support the company’s growth and pipeline advancement. CEO Bo Cumbo expressed confidence in Tan’s leadership at this pivotal time for the company. Solid continues to focus on developing genetic medicines for neuromuscular and cardiac diseases, aiming to enhance patient outcomes through innovative treatments.
Solid Biosciences Inc. (Nasdaq: SLDB) announced that CEO Bo Cumbo will present at the 41st Annual J.P. Morgan Healthcare Conference on January 12, 2023, at 9:00 am PT / 12:00 pm ET. Interested institutional investors can schedule meetings with management through their J.P. Morgan representatives. A live webcast of the presentation will be available on the company's website's Events page, with a replay accessible for 30 days. Solid Biosciences focuses on developing genetic medicines for neuromuscular and cardiac diseases, including programs for Duchenne and Friedreich’s Ataxia.
Solid Biosciences (Nasdaq: SLDB) announced inducement awards for its newly appointed executive team, including President and CEO Bo Cumbo and other key officers. The grants were approved by the board under Nasdaq rules, totaling stock options for 192,833 shares and RSUs for 85,514 shares to 22 new hires. Each award vests over four years, with a ten-year term and an exercise price of $6.77 per share, aligned with the company’s stock price at the time of the awards. This announcement coincided with Solid's acquisition of AavantiBio, emphasizing its commitment to advancing therapies for neuromuscular and cardiac diseases.
Solid Biosciences (Nasdaq: SLDB) has completed its acquisition of AavantiBio, a gene therapy company specializing in neuromuscular and cardiac diseases. The merger creates a new precision genetic medicine entity focused on therapies for Duchenne muscular dystrophy, Friedreich’s ataxia, and other cardiac conditions. The combined company holds approximately $215 million in cash and investments, sufficient to fund operations until 2025. Bo Cumbo will lead the merged company as President and CEO, with a focus on advancing key gene therapy programs.
On December 1, 2022, Solid Biosciences (Nasdaq: SLDB) announced that stockholders approved all proposals at a special meeting. This includes issuing shares of common stock to AavantiBio shareholders as part of a merger agreement dated September 29, 2022, along with a concurrent $75 million private placement. The merger aims to create a focused genetic medicine company targeting neuromuscular and cardiac rare diseases, particularly Duchenne muscular dystrophy. The combined company is expected to advance several key gene therapy programs, including SGT-003 for Duchenne and AVB-202 for Friedreich’s ataxia.
Solid Biosciences Inc. (SLDB) announced participation in the Piper Sandler 34th Annual Healthcare Conference on December 1, 2022, at 10:30 a.m. ET. CEO Ilan Ganot, AavantiBio CEO Bo Cumbo, and CSO Carl Morris will partake in a fireside chat. A live webcast will be accessible on the company's investor relations website with a replay available post-event. Solid Biosciences is dedicated to developing therapies for Duchenne muscular dystrophy and is working on a gene therapy candidate, SGT-003, aimed at addressing the underlying mutation of the disease.
Solid Biosciences (SLDB) recently shared advancements in its gene therapy program for Duchenne muscular dystrophy, focusing on SGT-003, which is set for an Investigational New Drug (IND) submission by mid-2023. The company ended Q3 with $142.2 million in cash, expected to last into Q2 2024. With the planned acquisition of AavantiBio and a $75 million private placement expected by year-end, Solid anticipates a cash reserve of $215 million to support future milestones through 2025.
Solid Biosciences (Nasdaq: SLDB) announced a 1-for-15 reverse stock split effective at 5:00 p.m. ET on October 27, 2022. This action reduces the number of outstanding shares from approximately 113 million to about 7.5 million, aimed at complying with Nasdaq's minimum bid price requirements. Post-split, shares will trade on a split-adjusted basis starting October 28, 2022. The split was approved by shareholders on June 7, 2022, and no fractional shares will be issued; instead, cash payments will be provided for fractional entitlements.
Solid Biosciences presented data on AAV-SLB101, a novel AAV vector for Duchenne gene therapy SGT-003, at the ESGCT Congress in October 2022. The data showed AAV-SLB101's superior transduction efficiency and biodistribution to muscle cells in studies across various models compared to AAV9. Notably, AAV-SLB101 led to significantly higher microdystrophin expression in muscles while reducing liver distribution. The company plans to submit an IND for SGT-003 by mid-2023 and initiate patient dosing in late-2023, aiming for improved safety and efficacy in treatment.
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