Solid Biosciences Inc. (SLDB) shares gained 10.90% in after-hours on Monday, September 20, 2021, and closed the daily trading at $2.95. However, in the regular trading session of Monday, SLDB’s stock lost 5.00%. SLDB shares have risen 9.02% over the last 12 months, and they have moved down 0.37% in the past week. Over the past three months, the stock has lost 31.09%, while over the past six months, it has declined 53.00%.

Let’s discuss its recent news and developments.

Upcoming data presentation of SLDB’s SGT-001

On September 20, 2021, Solid Biosciences Inc. (SLDB) announced the presentation of long-term data from patients 4-6 in the ongoing IGNITE DMD Phase I/II clinical trial of SGT-001 in patients with Duchenne.

The company is going to present the data on September 23, 2021, in an oral session at the World Muscle Society 2021 Virtual Congress. Vamshi Rao, MD, Attending Physician, Neurology, Lurie Children’s Hospital of Chicago and Assistant Professor of Pediatrics (Neurology and Epilepsy), Northwestern University Feinberg School of Medicine, and an IGNITE DMD clinical investigator will participate and present the data.

SLDB participation in the upcoming investor conference

Solid Biosciences Inc (SLDB) will participate at the SVB Leerink CybeRx Series: Neuromuscular, Rare Diseases & Genetic Medicines 1×1 Event and at Chardan’s 5th Annual Genetic Medicines Conference.

The company will be presented by Joel Schneider, PhD, Chief Operating Officer, and Carl Morris, PhD, Chief Scientific Officer in both events.

SLDB corporate update

On August 19, 2021, Solid Biosciences Inc. (SLDB) appointed Michael Inbar, CPA, MBA, as Senior Vice President, Finance.

Mr Inbar has a Solid and extensive background in public accounting, with expertise in building finance teams, designing financial processes, and implementing new systems. He recently served as VP, Accounting and Corporate Controller at Syros Pharmaceuticals, Inc.

The company also approved an inducement award for Mr Inbar and provided him with an option to purchase up to 118,000 shares of common stock and a restricted stock unit award with respect to 59,000 shares of common stock.

SLDB recent financial results announcement

On August 16, 2021, Solid Biosciences Inc. (SLDB), announced the second quarter of 2021 financial results which ended on June 30, 2021.

Q2 2021 financial highlights

• SLDB reported collaboration revenue of 6 million in Q2 2021, compared to no collaboration revenue in Q2 2020.
• Research and development expenses were $15.5 million in Q2 2021, compared to $13.4 million in Q2 2020.
• General and administrative expenses were $6.8 million in Q2 2021, compared to $5.5 million in Q2 2020.
• It suffered a net loss of 18.7 million for the second quarter of 2021, compared to $19.0 million for the second quarter of 2020.
• As of June 30, 2021, the company had $249.0 million in cash, cash equivalents and available-for-sale securities.

Conclusion

The announcement about the Upcoming data presentation of SLDB’s SGT-001 was the reason behind its positivity in the after-hours and we can expect it to continue its momentum on Tuesday as well.