Duchenne Player Solid Biosciences Realigns Pipeline Strategy, Cuts Staff By 35%

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  • Solid Biosciences Inc SLDB is shaving down its pipeline, updating its operations strategy to prioritize the advancement of AAV-mediated gene transfer therapies, SGT-001 and SGT-003.
  • In addition, the Company plans to narrow Research & Development activities to those related to SGT-001, SGT-003, and next-generation capsids.
  • Related: Solid Biosciences Posts Two-Year Efficacy, Safety Data From Duchenne Gene Therapy Trial.
  • Due to the reorganized pipeline, the Company will slash its headcount by 35% and plan to extend its current funds through mid-2024.
  • Solid Biosciences ended the March quarter with a cash balance of $180.1 million.
  • COO Joel Schneider will leave the Company at the end of May to become CEO of a private gene therapy biotech.
  • Solid has concluded enrollment in IGNITE DMD Phase 1/2 trial for SGT-001 and will continue monitoring dosed patients for five years post-treatment. The Company currently expects to continue dosing with SGT-001 in 2023.
  • The Company remains on track for an early 2023 IND submission for SGT-003.
  • Price Action: SLDB shares are down 13.8% at $0.67 during the market session on the last check Wednesday.
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