Kevin Tan, the Chief Financial Officer and Treasurer of Solid Biosciences Inc. (NASDAQ:SLDB), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Tan sold 4,073 shares on January 10 at a price of approximately $3.89 per share, totaling $15,849.
The filing also detailed a separate transaction on January 9, where Tan acquired 11,250 shares through the conversion of restricted stock units, which convert to common stock on a one-for-one basis. This acquisition was part of a vesting schedule from a grant made on January 9, 2023. With a current ratio of 7.85, the company maintains strong liquidity despite recent market challenges. Discover more insights about SLDB and 1,400+ other stocks through detailed Pro Research Reports available on InvestingPro. With a current ratio of 7.85, the company maintains strong liquidity despite recent market challenges. Discover more insights about SLDB and 1,400+ other stocks through detailed Pro Research Reports available on InvestingPro.
The filing also detailed a separate transaction on January 9, where Tan acquired 11,250 shares through the conversion of restricted stock units, which convert to common stock on a one-for-one basis. This acquisition was part of a vesting schedule from a grant made on January 9, 2023.
In other recent news, Solid Biosciences has been the focus of significant developments. Truist Securities initiated coverage on the company with a Buy rating and a price target of $16.00. The company, a result of a merger between SolidBio and AavantiBio, is currently conducting a Phase 1/2 study of SGT-003 in Duchenne muscular dystrophy, with first-in-human results expected in 2025.
Solid Biosciences also plans to submit additional Investigational New Drug applications for cardiac indications in 2025. JMP Securities initiated coverage on the company with a Market Outperform rating, recognizing Solid Biosciences' potential in gene therapy and its valuable capsid engineering capabilities.
The U.S. Food and Drug Administration has approved Solid Biosciences' Investigational New Drug application for SGT-212, a gene therapy candidate for Friedreich’s ataxia. Solid Biosciences plans to initiate a Phase 1b clinical trial for this therapy in 2025.
Furthermore, Solid Biosciences has entered into an exclusive collaboration with Mayo Clinic to develop gene therapies targeting genetic cardiac conditions. This partnership grants Solid Biosciences exclusive worldwide licenses to Mayo Clinic's Suppression-Replacement gene therapy platform and several cardiac gene therapy programs.
These recent developments reflect Solid Biosciences' ongoing efforts to advance its gene therapy technologies and potentially commercialize its capsid engineering capabilities.
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