Solid Biosciences Inc · Q3 2020 earnings

Briefing

Solid Biosciences reported financial results for the third quarter ended September 30, 2020 and provided a business update.

Solid Biosciences reported a net loss of $21.2 million for the third quarter of 2020. The company's cash and cash equivalents were $24.8 million as of September 30, 2020, which, combined with proceeds from Ultragenyx and ATM Sale, are expected to fund operations into the second half of 2021. The FDA lifted the clinical hold on the IGNITE DMD trial, with dosing expected to resume in the first quarter of 2021.

• FDA lifted the clinical hold on IGNITE DMD trial, with dosing expected to resume in Q1 2021.
• Strategic collaboration with Ultragenyx to develop additional gene therapies for Duchenne.
• Enhanced cash position from Ultragenyx collaboration and fund-raising activity extends financial runway into the second half of 2021.
• Increased production of SGT-001 using an improved manufacturing process to support dosing additional patients in 2021.

Headline financials

Revenue & EPS history

Solid Biosciences expects that its cash and cash equivalents, combined with proceeds from the Ultragenyx collaboration and ATM Sale, will enable the company to fund its operating expenses into the second half of 2021.