Solid Biosciences Reports Inducement Grant to New Senior Vice President, Clinical Development

Rhea-AI Summary

Solid Biosciences Inc. (Nasdaq: SLDB) has granted an inducement award to Dr. Roxana Dreghici, the newly appointed Senior Vice President of Clinical Development. This grant, approved by independent directors on June 16, 2021, includes an option to purchase 230,000 shares of common stock at an exercise price of $3.77 per share, reflecting the closing price on July 1, 2021. The option vests over four years, contingent on Dr. Dreghici's continued employment. Solid Biosciences is focused on developing therapies for Duchenne muscular dystrophy, particularly through its lead gene therapy candidate, SGT-001.

Positive

• Inducement grant supports recruitment of experienced leadership.
• Company focuses on Duchenne therapy with lead candidate SGT-001.

Negative

• None.

CAMBRIDGE, Mass., July 02, 2021 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced the grant of an inducement award to its newly appointed Senior Vice President, Clinical Development, Roxana Dreghici. The grant was approved by a majority of the independent directors of the Company on June 16, 2021 as an inducement material to Dr. Dreghici entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grant to Dr. Dreghici consisted of an option to purchase up to 230,000 shares of common stock. The option has an exercise price of $3.77 per share, the closing price per share of Solid Biosciences’ common stock as reported by Nasdaq on July 1, 2021. The option has a ten-year term and vests in four equal installments on each one-year anniversary of Dr. Dreghici’s employment start date until the fourth anniversary of Dr. Dreghici’s start date, subject to Dr. Dreghici’s continued service with the Company through the applicable vesting dates.

About Solid Biosciences

Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001. For more information, please visit www.solidbio.com.

Investor Contact:
David Carey
FINN Partners
212-867-1768
David.Carey@finnpartners.com

Media Contact:
Erich Sandoval
FINN Partners
917-497-2867
Erich.Sandoval@finnpartners.com

FAQ

What is the purpose of the inducement award granted to Dr. Roxana Dreghici at Solid Biosciences?

The inducement award is aimed at attracting and retaining Dr. Dreghici in her new role as Senior Vice President of Clinical Development.

What are the details of the stock option grant to Dr. Dreghici?

Dr. Dreghici received an option to purchase 230,000 shares at $3.77 per share, vesting in four equal installments over four years.

What is the significance of Solid Biosciences' focus on Duchenne muscular dystrophy?

The company aims to advance transformative therapies like their lead candidate SGT-001 to improve the lives of patients affected by Duchenne muscular dystrophy.

When was the inducement grant to Dr. Dreghici approved?

The grant was approved by the independent directors on June 16, 2021.

How does the inducement award affect Solid Biosciences' future?

Attracting experienced leadership like Dr. Dreghici is expected to enhance the company's clinical development efforts and potentially drive future growth.