Solid Biosciences (SLDB) to Prioritize Development of SGT-001

Solid Biosciences Inc. (Nasdaq: SLDB) today announced changes to its organizational structure to create a leaner company focused on advancing SGT-001, a gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne). In December 2019, the company reported biomarker data from two patients that provide evidence that SGT-001 is biologically active with differentiated properties which Solid believes warrants further evaluation.

“We believe SGT-001 holds great potential for the treatment of Duchenne, and in order to effectively evaluate its potential for patients, we made some difficult choices to focus our resources and help extend our cash runway,” said Ilan Ganot, Chief Executive Officer, President and Co-Founder of Solid Biosciences. “We are grateful for the efforts and contributions of our employees who have worked tirelessly to advance our mission to improve the lives of patients with Duchenne. We are committed to supporting all employees during this transition.”

In November 2019, Solid announced that the SGT-001 IGNITE DMD trial was placed on clinical hold by the U.S. Food and Drug Administration (FDA). Going forward, the company will focus on conducting its analyses of SGT-001 to determine how to address the clinical hold and resume dosing. The activities supporting the company’s other research and development programs will be curtailed as Solid establishes a path forward for SGT-001. As part of the organizational changes, the company will reduce its work force by approximately one third. In conjunction, Chief Operating Officer Alvaro Amorrortu, M.B.A. and Chief Medical Officer Jorge Quiroz, M.D., M.B.A. will depart the company but will continue as advisors to Solid.Industry veterans Cathryn Clary, M.D., M.B.A., and Jeffry Lawrence, M.D., who have been working with Solid during the past several months, will now provide leadership and additional support for the company’s clinical and regulatory activities. Dr. Clary will work closely with the clinical committee of Solid’s board of directors to lead and coordinate these activities.

“I would like to thank Alvaro and Jorge for their contributions to Solid over the last several years. Their leadership and dedication to advancing meaningful new therapies for patients with Duchenne has been commendable and we wish them the best in their future endeavors. While Solid will look a little different as we move into 2020, our unwavering commitment to the Duchenne community remains strong. We are focused on the work ahead to determine the best approach to resume dosing of SGT-001,” continued Mr. Ganot.

The corporate changes implemented will result in a reduction in corporate expenses and, based on the company’s current operating plans, are expected to extend the cash runway into 2021.

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