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Solid Biosciences Inc. (SLDB)

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6.48+0.02 (+0.31%)
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Previous Close6.46
Open6.46
Bid6.50 x 1100
Ask6.69 x 1200
Day's Range6.45 - 6.95
52 Week Range1.93 - 8.56
Volume845,764
Avg. Volume2,021,266
Market Cap549.334M
Beta (5Y Monthly)1.11
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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Press Releases
  • Solid Biosciences to Present at 39th Annual J.P. Morgan Healthcare Conference
    GlobeNewswire

    Solid Biosciences to Present at 39th Annual J.P. Morgan Healthcare Conference

    CAMBRIDGE, Mass., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced that Ilan Ganot, Chief Executive Officer, President and Co-Founder, will present at the 39th Annual J.P. Morgan Healthcare Conference on Thursday, January 14, 2021 at 8:20 am ET. Following the prepared remarks, several members of the leadership team will be available for Q&A. Institutional investors interested in meeting with management during the conference may reach out to their J.P. Morgan representative.A live webcast of the presentation will be available on the Events page of the Investors section of the Company website or by clicking here. A webcast replay will be archived for approximately 30 days on the Events page.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.comMedia Contact: Erich Sandoval FINN Partners 917-497-2867 Erich.Sandoval@finnpartners.com

  • Solid Biosciences Announces $90 Million Private Placement
    GlobeNewswire

    Solid Biosciences Announces $90 Million Private Placement

    CAMBRIDGE, Mass., Dec. 11, 2020 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced that it has entered into a securities purchase agreement with a select group of institutional investors and accredited investors for a $90 million private placement, which is expected to close on or about December 15, 2020, subject to the satisfaction of customary closing conditions. The private placement includes new investors Suvretta Capital Management, LLC and Aspire Capital Fund, LLC and existing investors, including RA Capital Management, Perceptive Advisors, LLC, Bain Capital Life Sciences, EcoR1 Capital, LLC, Boxer Capital, and Ikarian Capital, LLC, as well as certain board members and executive officers.Barclays acted as the exclusive placement agent to the Company in connection with the private placement.In this private placement, the Company is selling 24,324,320 shares of common stock at a price of $3.70 per share.The Company expects to use net proceeds from the private placement to fund research and development expenses, including the advancement of SGT-001, and for working capital and other general corporate purposes.The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock issued in the private placement no later than the 120th day after the closing of the private placement.This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.About Solid BiosciencesSolid 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.Cautionary Note Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, those regarding:  the anticipated closing of the private placement; the use of proceeds from the private placement; the filing of a registration statement to register the resale of the shares to be issued and sold in the private placement; and Solid’s plans, strategies and prospects for its business. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to: whether the conditions for the closing of the private placement will be satisfied; risks associated with Solid’s ability to resume and/or continue IGNITE DMD on the timeline expected or at all, obtain and maintain necessary approvals from the FDA and other regulatory authorities, obtain and maintain the necessary approvals from investigational review boards at IGNITE DMD clinical trial sites and the IGNITE DMD independent data safety monitoring board, enroll patients in IGNITE DMD, continue to advance SGT-001 in clinical trials, replicate in clinical trials positive results found in preclinical studies and earlier stages of clinical development, advance the development of its product candidates under the timelines it anticipates in current and future clinical trials, successfully optimize and scale its manufacturing process, obtain, maintain or protect intellectual property rights related to its product candidates, compete successfully with other companies that are seeking to develop Duchenne treatments and gene therapies, manage expenses, and raise the substantial additional capital needed, on the timeline necessary, to continue development of SGT-001, achieve its other business objectives and continue as a going concern; and other important risk factors set forth under the caption “Risk Factors” in Solid’s most recent quarterly report on Form 10-Q and its other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Solid specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.Investor Contact: David Carey FINN Partners 212-867-1768 David.Carey@finnpartners.comMedia Contact: Erich Sandoval FINN Partners 917-497-2867 Erich.Sandoval@finnpartners.com

  • Solid Biosciences Reports Third Quarter 2020 Financial Results and Provides Business Update
    GlobeNewswire

    Solid Biosciences Reports Third Quarter 2020 Financial Results and Provides Business Update

    –IGNITE DMD clinical trial expected to resume dosing in the first quarter of 2021– -Collaboration with Ultragenyx creates opportunities to develop additional gene therapies for Duchene muscular dystrophy-    – Enhanced cash position resulting from Ultragenyx collaboration and fund-raising activity expected to provide financial runway into the second half of 2021 –– Conference call and webcast scheduled for 8:30 AM ET –CAMBRIDGE, Mass., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today reported financial results for the third quarter ended September 30, 2020 and provided a business update.“With the FDA’s lifting of the clinical hold on the IGNITE DMD trial, we are well underway in completing the activities necessary to resume dosing, which we expect will occur in the first quarter of 2021,” said Ilan Ganot, Chief Executive Officer, President and Co-Founder of Solid Biosciences. “This important event and establishing a strategic collaboration with Ultragenyx to develop additional gene therapies for Duchenne mark important progress toward our goal of improving the lives of patients living with Duchenne. We are also increasing production of SGT-001 using our improved manufacturing process in support of dosing additional patients in 2021. Additionally, we strengthened our balance sheet with additional capital from the Ultragenyx collaboration and our recent at-the-market, or ATM, equity financing, both of which will support our planned clinical advancement of SGT-001.”Recent Developments * In October 2020, Solid announced that the U.S. Food and Drug Administration (FDA) lifted the clinical hold placed on the Company’s IGNITE DMD Phase I/II clinical trial. Solid expects to resume dosing in the clinical trial in the first quarter of 2021. * Solid implemented and shared with the FDA manufacturing process changes that remove the majority of empty viral capsids. The improved process is averaging approximately 90% full capsids, allowing target dosing to be achieved with fewer viral particles. * Solid submitted data from a new, quantitative, in vitro microdystrophin expression assay that demonstrates comparability between SGT-001 manufactured by the two processes. * Solid is reducing the maximum weight of the next two patients dosed to 18 kg. This reduction, in conjunction with the delivery of fewer viral particles as a result of the company’s manufacturing process improvements, will reduce patients’ total viral load while continuing dosing at the 2E14 vg/kg dose. * Solid has amended the IGNITE DMD clinical protocol to include the prophylactic use of both anti-complement inhibitor eculizumab and C1 esterase inhibitor, and an increase in prednisone dose in the first month post dosing. * Solid also provided the FDA with updated functional efficacy data (including 6-Minute Walk Test and North Star Ambulatory Assessment data) for all patients dosed to date in IGNITE DMD. * In October 2020, Solid and Ultragenyx Pharmaceutical (Ultragenyx) announced a strategic collaboration to develop and commercialize new gene therapies for Duchenne. The parties will collaborate to develop products that combine Solid’s differentiated microdystrophin construct and Ultragenyx’s HeLa producer cell line (PCL) manufacturing platform for adeno-associated virus (AAV) vectors using AAV8 variants. The goal of the collaboration is to expand the pipeline of potential gene therapies for patients living with Duchenne. * Ultragenyx made a $40 million investment in Solid at a 33% premium. * Ultragenyx has also agreed to pay up to $255 million in cumulative milestone payments per product upon achievement of specified milestone events, and tiered royalties on worldwide net sales. Upon achievement of proof-of-concept, Solid has the right to opt-in to co-fund collaboration programs in return for participation in a profit share or increased royalty payments. * Solid retains full rights to SGT-001 as well as the opportunity to establish additional partnerships around SGT-001 or the Company’s proprietary and differentiated microdystrophin construct outside of AAV8 variants. * In October 2020, Solid announced that it sold shares of its common stock pursuant to a sales agreement dated March 13, 2019, between the Company and Jefferies LLC that resulted in gross proceeds of $23.9 million (ATM Sale). Financial HighlightsResearch and development expenses for the third quarter of 2020 were $16.0 million, compared to $22.8 million for the third quarter of 2019. Research and development expenses for the first nine months of 2020 were $49.2 million, compared to $67.7 million for the first nine months of 2019. The decrease was primarily attributable to a reduction in personnel and facility related expenses as a result of the restructuring that occurred in January 2020, as well as lower manufacturing costs and a decrease in costs related to other product candidates as the Company focuses on advancing SGT-001.General and administrative expenses for the third quarter of 2020 were $5.2 million, compared to $6.9 million for the third quarter of 2019. General and administrative expenses for the first nine months of 2020 were $16.0 million, compared to $19.3 million for the first nine months of 2019. The decrease was primarily attributable to decreased personnel costs and corporate expenses partially due to the restructuring that occurred in January 2020.Net loss for the third quarter of 2020 was $21.2 million, compared to $29.3 million for the third quarter of 2019. Net loss for the first nine months of 2020 was $66.9 million, compared to $85.4 million for the first nine months of 2019.Solid had $24.8 million in cash and cash equivalents as of September 30, 2020. The Company expects that its cash and cash equivalents, combined with proceeds of $40 million from the issuance and sale of shares of common stock to Ultragenyx and the net proceeds of $23.2 million from the ATM Sale will enable Solid to fund its operating expenses into the second half of 2021.Conference Call Management will host a webcast and conference call to discuss Solid’s third quarter 2020 financial results and business update today, November 5, 2020, at 8:30 AM ET.A live webcast of the call will be available on the Company's website at www.solidbio.com under the “News & Events” tab in the Investor Relations section, or by clicking here. Participants may also access the call, by dialing 866-763-0341 for domestic callers or 703-871-3818 for international callers.The archived webcast will be available for in the “News and Events” section of the Company's website.About SGT-001 Solid’s SGT-001 is a novel adeno-associated viral (AAV) vector-mediated gene transfer therapy designed to address the underlying genetic cause of Duchenne. Duchenne is caused by mutations in the dystrophin gene that result in the absence or near absence of dystrophin protein. SGT-001 is a systemically administered candidate that delivers a synthetic dystrophin gene, called microdystrophin, to the body. This microdystrophin encodes for a functional protein surrogate that is expressed in muscles and stabilizes essential associated proteins, including neuronal nitric oxide synthase nNOS. Data from Solid’s preclinical program suggests that SGT-001 has the potential to slow or stop the progression of Duchenne, regardless of genetic mutation or disease stage.SGT-001 is based on pioneering research in dystrophin biology by Dr. Jeffrey Chamberlain of the University of Washington and Dr. Dongsheng Duan of the University of Missouri. SGT-001 has been granted Rare Pediatric Disease Designation, or RPDD, and Fast Track Designation in the United States and Orphan Drug Designations in both the United States and European Union.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.Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing and ability of the Company to resume dosing and move the IGNITE DMD clinical trial forward, the safety or potential efficacy of SGT-001, the sufficiency of the Company’s cash and cash equivalents to fund its operations, potential milestone payments or royalty payments in connection with the Ultragenyx collaboration and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” “working” and similar expressions. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with the Company’s ability to resume and/or continue IGNITE DMD on the timeline expected or at all; obtain and maintain necessary approvals from the FDA and other regulatory authorities; obtain and maintain the necessary approvals from investigational review boards at IGNITE DMD clinical trial sites and the IGNITE DMD independent data safety monitoring board; enroll patients in IGNITE DMD; continue to advance SGT-001 in clinical trials; replicate in clinical trials positive results found in preclinical studies and earlier stages of clinical development; advance the development of its product candidates under the timelines it anticipates in current and future clinical trials; successfully optimize and scale its manufacturing process; obtain, maintain or protect intellectual property rights related to its product candidates; compete successfully with other companies that are seeking to develop DMD/Duchenne treatments and gene therapies; manage expenses; and raise the substantial additional capital needed, on the timeline necessary, to continue development of SGT-001, achieve its other business objectives and continue as a going concern. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in the Company’s most recent filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof and should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.Investor Contact: David Carey FINN Partners 212-867-1768 David.Carey@finnpartners.comMedia Contact: Erich Sandoval FINN Partners 917-497-2867 Erich.Sandoval@finnpartners.com Solid Biosciences Inc. Condensed Consolidated Statements of Operations (unaudited, in thousands, except share and per share data)                 Three Months Ended September 30, Nine Months Ended September 30,      2020   2019   2020   2019              Revenue $-  $-  $-  $-  Operating expenses:          Research and development  16,045   22,792   49,158   67,671   General and administrative  5,181   6,925   15,957   19,317   Restructuring charges  -   -   1,944   -    Total operating expenses  21,226   29,717   67,059   86,988  Loss from operations  (21,226)  (29,717)  (67,059)  (86,988) Other income (expense):          Interest (expense) income  (20)  406   131   1,281   Other income  -   56   1   345    Total other income (expense), net  (20)  462   132   1,626  Net loss $(21,246) $(29,255) $(66,927) $(85,362) Net loss per share attributable to common stockholders, basic and diluted $(0.44) $(0.67) $(1.39) $(2.26) Weighted average shares of common stock outstanding, basic and diluted  48,295,468   43,467,618   48,172,686   37,727,640          Solid Biosciences Inc. Condensed Consolidated Balance Sheets (unaudited, in thousands, except share and per share data)             September 30, December 31,      2020   2019  Assets     Current assets:      Cash and cash equivalents $24,797  $76,043   Available-for-sale securities  -   7,481   Prepaid expenses and other current assets  2,365   2,778    Total current assets  27,162   86,302  Property and equipment, net  8,869   11,645  Operating lease, right-of-use assets  3,951   4,988  Other non-current assets  209   209  Restricted cash  327   327    Total assets $40,518  $103,471          Liabilities and Stockholders' Equity     Current liabilities:      Accounts payable $4,083  $7,124   Accrued expenses  8,550   9,178   Operating lease liabilities  1,930   1,736   Finance lease liabilities  202   186   Other current liabilities  -   52    Total current liabilities  14,765   18,276   Operating lease liabilities, excluding current portion  2,943   4,414   Finance lease liabilities, excluding current portion  579   733    Total liabilities  18,287   23,423  Common Stock  48   48   Additional paid-in capital  405,389   396,278   Accumulated other comprehensive income  -   1   Accumulated deficit  (383,206)  (316,279)   Total stockholders' equity  22,231   80,048    Total liabilities and stockholders' equity $40,518  $103,471