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Mar 31, 2022
Solid Biosciences Q1 2022 Earnings Report
Solid Biosciences reported financial results for Q1 2022 and updated corporate strategy.
Key Takeaways
Solid Biosciences announced an update to its strategic priorities to focus on developing SGT-001 and SGT-003. The company reported a net loss of $25.3 million for the first quarter of 2022 and had $180.1 million in cash, cash equivalents, and available-for-sale securities as of March 31, 2022.
Focusing on developing SGT-001 and SGT-003 pipeline programs for Duchenne Muscular Dystrophy.
Transitioning SGT-001 to a commercially scaled transient transfection-based manufacturing process.
Advancing SGT-003 toward an anticipated IND submission in early 2023.
Reorganization will result in a reduction in planned corporate expenditures which is anticipated to extend funding of operations through important clinical milestones and into Q2 2024.
Solid Biosciences
Solid Biosciences
Forward Guidance
Solid Biosciences anticipates that the use of transfection-based manufacturing processes for both SGT-001 and SGT-003 will allow the company to focus its operating structure and better leverage external manufacturing expertise.