With a significant climb today, shares of Solid Biosciences Inc. (NASDAQ: SLDB) were up 48.39% on the charts at $5.98 as of the most recent check. The spike in SLDB stock follows two significant announcements.
Motivating The INSPIRE DUCHENNE Trial’s findings
SLDB’s Phase 1/2 INSPIRE DUCHENNE clinical study, which evaluated SGT-003, an advanced gene therapy option for Duchenne muscular dystrophy, showed encouraging preliminary results. Western blot examination of the first three study participants’ interim 90-day biopsy results showed an average microdystrophin expression of 110%. Furthermore, multiple biomarkers indicated improved muscle health and resilience.
The study employed three distinct measurement techniques, all supporting the high expression levels of the microdystrophin transgene. Significantly, improvements in muscle integrity were indicated by decreases in important clinical indicators linked to muscle degeneration. Solid Biosciences plans to discuss a simplified approval process for the therapy with the U.S. Food and Drug Administration (FDA) by mid-2025.
Favorable Safety Profile in Initial Participants
SGT-003 demonstrated a favorable safety profile among the first six participants dosed by the data cutoff date of February 11, 2025. After more than 20 days of treatment, all individuals had experienced adverse events (AEs) that were characteristic of AAV gene therapy. There were no significant adverse events (SAEs) or unexpected severe reactions were reported.
Offering of Stock to Raise $200 Million
Concurrently, Solid Biosciences said that 35,739,810 shares of common stock will be priced at $4.03 per share in an underwritten public offering. Furthermore, 13,888,340 shares of pre-funded warrants were issued at a price of $4.029 each. The offering is scheduled to close on or around February 19, 2025, and the business expects to raise around $200 million in gross proceeds.
The exercise price for each pre-funded warrant is $0.001 per share, and it can be exercised until it is used up completely. Solid Biosciences is selling all of the equities in this offering, strengthening the company’s financial standing as it pursues its cutting-edge gene therapy projects.