Solid Biosciences Inc. (SLDB) stock face negativity on Monday night as it lost 15.88% of its value in the after-hours trading on Monday, March 15, 2021.
SLDB revealed the data related to its ongoing IGNITE DMD Phase I/II clinical trial of its lead gene therapy candidate, SGT-001 and despite the encouraging trial results, the stock went down. The data reported outcome measures (PROMs) from six patients. Patient 7 in IGNITE DMD was safely dosed. Additionally, the six patients previously dosed showed no new drug-related safety findings.
The President and Co-Founder of Solid Biosciences, Ilan Ganot said that the safe dosing of the seventh patient gives us increased confidence in our dosing strategy and the company will move forward with clinical development in the IGNITE DMD clinical trial.
Recent SLDB Activities
- Inducement Grant to New Chief Legal Officer
On March 4, 2021, SLDB announced the Incentive to its newly appointed Chief Legal Officer, Erin Brennan which was approved by the board of directors.An option was given to Ms Brennan to purchase up to 325,000 shares of common stock at $8.52 per share as reported by Nasdaq on March 1, 2021.
- Changes to the management team
Also on the same day, Joel Schneider, Ph.D., was promoted to Chief Operating Officer. The Company also announced the appointment of Clare Kahn, Ph.D., and Georgia Keresty, Ph.D., M.P.H., to its Board of Directors.
About the company
Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne muscular dystrophy. The company was co-founded in 2013 by Ilan and Annie and its headquarter is in Massachusetts, United States. Mr. Ganot is also President and Chief Executive Officer of Solid Biosciences and a member of the board of directors. SLDB is working with its lead gene therapy candidate, SGT-001 to address the disease at its core by correcting the underlying mutation that causes Duchenne.