Business
Solid Biosciences Provides Second Quarter Business Update and Financial Results
– On track to submit IND in Q4 2023 for SGT-003, a next-generation gene therapy for patients with Duchenne muscular dystrophy (Duchenne) – – Executed
About this update from Solid Biosciences Inc.
[{"type":"text","content":"– On track to submit IND in Q4 2023 for SGT-003, a next-generation gene therapy for patients with Duchenne muscular dystrophy (Duchenne) – – Executed licensing agreement for development and commercialization of gene therapies in certain fatal cardiac disorders – – Company ends second quarter with approximately $160.2 million in cash and investments; Anticipated cash runway into 2025 – CHARLESTOWN, Mass., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company developing genetic medicines for neuromuscular and cardiac diseases, today reported financial results for the second quarter ended June 30, 2023, and provided a business update. “We made strong progress this quarter across multiple programs in our pipeline of genetic medicines and remain on track to submit an IND for SGT-003 in the fourth quarter of this year,” said Bo Cumbo, President and CEO of Solid Biosciences. “We also continued to advance and diversify our preclinical pipeline. Most notably, executing a licensing agreement for two preclinical cardiac programs further growing our pipeline of gene therapies to treat fatal neuromuscular and cardiac diseases. This agreement strengthens the existing work being done in our cardiac portfolio, including our BAG3 program as it enters animal proof-of-concept dose ranging studies in the second half of this year. With anticipated cash runway into 2025, we continue to be well positioned to create additional momentum from our leading-edge technology platform and product development programs in the months ahead.” The Company is on track to submit an Investigational New Drug (IND) for its Duchenne gene therapy program, SGT-003, in the fourth quarter of 2023. Solid also continues to advance preclinical programs in both cardiac and neuromuscular indications as well as platform enabling capsids. This includes AVB-401 for treatment of BAG3 mediated dilated cardiomyopathy and AVB-202-TT for Friedreich’s Ataxia as well as its capsid library which is now in a second round of development. Second Quarter 2023 Financial Highlights There were no collaboration revenues for the second quarter of 2023, compared to $6.2 million, for the second quarter of 2022. Collaboration revenue in the 2022 period was related to research services and cost reimbursement from our Collaboration Agreement with Ultragenyx, whi...