CHARLESTOWN, MA— Solid Biosciences Inc. (NASDAQ:SLDB), a biotechnology company with a market capitalization of $205 million, saw a recent stock transaction involving its Chief Regulatory Officer, Jessie Hanrahan. According to InvestingPro data, the company's stock has shown significant volatility, with a 50% gain over the past year despite recent pressure. According to a regulatory filing, Hanrahan sold 4,610 shares of common stock on December 3, 2024, at an average price of $5.6014 per share, amounting to a total value of $25,822. This transaction was conducted to cover withholding taxes following the vesting of previously granted restricted stock units (RSUs).
Prior to this sale, on December 2, 2024, Hanrahan acquired 11,862 shares of common stock through the vesting of RSUs, which were granted at no cost. Post (NYSE:POST) these transactions, Hanrahan holds 14,235 shares directly.
The RSUs, initially granted on December 2, 2022, vest over four years, with 25% vesting on each anniversary of the grant date.
In other recent news, Solid Biosciences has secured exclusive worldwide licenses for Mayo Clinic's Suppression-Replacement gene therapy platform and several cardiac gene therapy programs. This collaboration, part of the company's ongoing efforts to develop gene therapies for genetic cardiac conditions, was announced alongside the news of Solid Biosciences' intention to lead in cardiac precision genetic medicine. The company's CPVT IND submission is expected in the first half of 2025.
Mayo Clinic's Windland Smith Rice Sudden Death Genomics Laboratory will lead research and development up to the point of Investigational New Drug (IND)-enabling studies, with Solid Biosciences having the option to further develop and potentially commercialize each program. The collaboration aims to combine Solid's advanced AAV capsids and manufacturing capabilities with Mayo Clinic's platform to address life-threatening genetic heart diseases.
Despite Solid Biosciences' strong liquidity position, with a current ratio of 7.85, the company is experiencing rapid cash burn. Analysts have set price targets ranging from $12 to $28, indicating potential growth, but they also highlight challenges such as weak profit margins and recent earnings forecast downgrades. The forward-looking nature of Solid Biosciences' plans involves potential risks and uncertainties.
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