Solid Biosciences (SLDB) is focused on developing products that treat Duchenne muscular dystrophy (or DMD), a genetic muscle-wasting disease caused by mutations in the dystrophin gene. It mainly affects boys.
Solid Biosciences’ SGT-001 is being developed to restore functional dystrophin protein expression in patients’ muscles. The drug has received rare pediatric disease designation in the United States and orphan drug designation in the United States and the European Union.
In the fourth quarter of 2017, Solid Biosciences initiated a Phase 1/2 clinical trial called IGNITE DMD to test SGT-001 in the United States. In November 2017, the trial had been put on partial clinical hold by the FDA. It was a manufacturing-related hold that was partially resolved.
In March 2018, the IGNITE trial was placed on full clinical hold after a serious adverse event occurred in the first patient dosed. The hold was lifted in June, and Solid Biosciences has resumed screening patients for the trial. The company expects initial data from an interim analysis in the second half of 2019.
Solid Biosciences incurred research and development expenses of $13.59 million in the second quarter of 2018 compared to $8.61 million in the second quarter of 2017. Its general and administrative expenses increased from $3.28 million in the second quarter of 2017 to $4.58 million in the second quarter of 2018.
The company’s operating loss widened from $11.89 million in the second quarter of 2017 to $18.18 million in the second quarter of 2018.
Next, let’s take a look at Solid Biosciences’ valuation metrics and analyst recommendations.