– IND submission for SGT-003 for patients with Duchenne muscular dystrophy in Q4 2023 –
– Strengthened management team with appointment of Dr.
– Company ends third quarter with approximately
“We are pleased with the continued advancement of our diversified pipeline of neuromuscular and cardiac gene therapies; including an IND submission in this quarter for SGT-003 for patients with Duchenne,” said
Third Quarter 2023 Business Highlights
Solid Biosciences appointedGabriel Brooks , M.D., as Chief Medical Officer, inOctober 2023 .Dr. Brooks previously directed the translational development of a range of precision AAV gene therapies for dilated, arrhythmogenic, and hypertrophic cardiomyopathies, as Rare Cardiovascular Therapeutic Area Head in the Rare Disease Research Unit at Pfizer. Previous to Pfizer,Dr. Brooks served as the vice president of research and development at 4D Molecular Therapeutics, where he oversaw translational development of AAV gene therapies forAnderson Fabry and first-in-human dosing of AAV gene therapies for two ophthalmologic indications (choroideremia and X-linked retinitis pigmentosa).
Third Quarter 2023 Financial Highlights
There were no collaboration revenues for the third quarter of 2023 and 2022.
Research and development expenses for the three months ended
General and administrative expenses were
Net loss for the third quarter of 2023 was
Solid had
About
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future expectations, plans and prospects for the company; the ability to successfully achieve and execute on the Company’s priorities and reach or achieve milestones within projected cash runway; the cash runway of the company and the sufficiency of the Company’s cash, cash equivalents, and available for sale securities to fund its operations; the impact of hiring a CMO; the Company’s SGT-003 program, including expectations for submission of an IND and its success, and the Company’s future development, including the potential acceleration of the Company’s multiple cardiac and neuromuscular pipeline assets in preclinical development; and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” “working” and similar expressions. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with the ability to recognize the anticipated benefits of Solid’s acquisition of AavantiBio; the Company’s ability to advance SGT-003, SGT-501, AVB-401, AVB-202-TT and other preclinical programs and capsid libraries on the timelines expected or at all; obtain and maintain necessary approvals from the FDA and other regulatory authorities; replicate in clinical trials positive results found in preclinical studies of the Company’s product candidates; obtain, maintain or protect intellectual property rights related to its product candidates; compete successfully with other companies that are seeking to develop Duchenne and other neuromuscular and cardiac treatments and gene therapies; manage expenses; and raise the substantial additional capital needed, on the timeline necessary, to continue development of SGT-003, SGT-501, AVB-401, AVB-202-TT and other candidates, achieve its other business objectives and continue as a going concern. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in the Company’s most recent filings with the
Solid Biosciences Contact:
VP, Investor Relations and Communications
617-766-3430
lmonteiro@solidbio.com
Source:
2023 GlobeNewswire, Inc., source