Solid Bioscience Stock Price, News & Analysis

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.

Solid Biosciences has reported promising one-year data from its IGNITE DMD Phase I/II clinical trial evaluating the microdystrophin gene therapy SGT-001. Patients showed an average improvement in stride velocity 95th centile (SV95C) of 8.8%-9.5% compared to baseline, indicating better ambulatory function. As a real-world assessment tool validated by the European Medicines Agency, SV95C revealed significant enhancements over control and natural history patient data. The results are being showcased at the 27th World Muscle Society Congress in Halifax, Nova Scotia.

Solid Biosciences (Nasdaq: SLDB) announced a merger with AavantiBio to create a precision genetic medicine company targeting neuromuscular and cardiac rare diseases. This strategic acquisition aims to leverage synergies from their product candidates, including SGT-003 for Duchenne muscular dystrophy and AVB-202 for Friedreich’s ataxia. The combined company will have approximately $215 million in cash, expected to fund operations into 2025. Leadership will transition to Bo Cumbo, CEO of AavantiBio, post-approval by Solid stockholders.

Solid Biosciences (Nasdaq: SLDB) announced participation in two investor conferences focused on Duchenne muscular dystrophy. Co-Founder and CEO Ilan Ganot, along with Chief Scientific Officer Carl Morris, will hold a fireside chat at the Jefferies Cell and Genetic Medicine Summit on September 30, 2022, at 3:00 PM ET, and at Chardan’s 6th Annual Genetic Medicines Conference on October 4, 2022, at 1:00 PM ET. Live webcasts will be available on the company’s investor relations website, with replays accessible post-event.