Business
Solid Biosciences Provides Third Quarter 2022 Business Update and Financial Results
- Recently presented preclinical data support potential benefits of next-generation Duchenne gene therapy candidate SGT-003; program on track for mid-2023
About this update from Solid Biosciences Inc.
[{"type":"text","content":"- Recently presented preclinical data support potential benefits of next-generation Duchenne gene therapy candidate SGT-003; program on track for mid-2023 Investigational New Drug (IND) submission - - Company ends Q3 with approximately $142.2 million in cash and investments; anticipated cash runway into Q2 2024 - - Company expects to close acquisition of AavantiBio and $75 million Private Placement by year-end, resulting in broader pipeline of neuromuscular and cardiac genetic medicines and anticipated cash of $215 million to support company to important milestones and into 2025 - CHARLESTOWN, Mass., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today reported financial results for the third quarter ended September 30, 2022 and provided a business update. “Solid made significant strategic advancements in the third quarter, including the prioritization of our next generation Duchenne gene transfer program, SGT-003, and the execution of definitive documents for the acquisition of AavantiBio and a $75 million private placement, both expected to close by year end,” said Ilan Ganot, Chief Executive Officer, President and Co-Founder of Solid Biosciences. “We remain enthusiastic about the potential benefits that SGT-003 may bring to patients, supported by new clinical data from the IGNITE DMD trial of SGT-001 that demonstrated the benefit of the nNOS microdystrophin encoded in both SGT-001 and SGT-003. The new data from the IGNITE DMD trial showed an improvement in stride velocity 95th centile at one year compared to declines for the control patient and natural history. Additionally, our next generation AAV-SLB101 capsid showed increased microdystrophin expression compared to AAV9 in preclinical studies. We believe that by bringing together these potentially best-in-class microdystrophin construct and capsid, we may be able to deliver next generation treatment to patients with Duchenne at lower doses.” SGT-003 UpdateIn September 2022, Solid announced that it had prioritized the development of SGT-003 and would be pausing activities for its first-generation gene therapy candidate, SGT-001. Development activities continued in the quarter for SGT-003, which combines Solid’s differentiated neuronal nitric...