Solid Biosciences(SLDB.US)

The Nasdaq Biotechnology Index rose over 2.4%, outperforming the broader U.S. stock market. Novavax increased by 20.67%, while Ironwood Pharma, Moderna, Vir Biotechnology, BioNTech, Annexon, and Aura Biosciences saw gains between 15.94% and 10.26%. Solid Biosciences rose by 9.61%. In contrast, Zenas Biopharma fell by 6.18%, PepGen dropped by 9.08%, and Legend Biotech decreased by 11.40%

JPM26: Solid Biosciences banks on its AAV capsid to catalyse gene therapy success

Solid Biosciences is focusing on its proprietary AAV-SLB101 capsid to enhance gene therapy delivery, aiming for a transformative year. The company has secured over 50 agreements for its technology and is initiating Phase III trials for its gene therapy SGT-003, targeting Duchenne muscular dystrophy. CEO Bo Cumbo emphasized the importance of improved delivery methods to attract investment back into the sector. The market for cell and gene therapy is projected to reach $63 billion by 2031, with Solid aiming for accelerated approval and potential UK launch of its therapy.

The Nasdaq Biotechnology Index closed up over 1.1%

The Nasdaq Biotechnology Index rose by more than 1.1%. Among the component stocks, Tango Therapeutics increased by 18.68%, MBX Biosciences rose by 18.48%, Edgewise Therapeutics climbed by 12.95%, and Solid Biosciences went up by 12.60%. Other companies that saw gains include LENZ Therapeutics (11.99%), Sionna Therapeutics (11.87%), and Amylyx Pharmaceuticals (11.67%). In contrast, Novavax fell by 5.54%, and Coherus BioSciences dropped by 5.88%

Solid Biosciences (NASDAQ:SLDB) CFO Kevin Tan Sells 5,704 Shares

Solid Biosciences CFO Kevin Tan sold 5,704 shares at $5.27 each, totaling $30,060.08, reducing his ownership by 11.01% to 46,100 shares valued at approximately $242,947. The sale was disclosed to the SEC. The stock traded down to $5.16, with a market cap of $402.02 million and a P/E ratio of -2.07. Analysts have mixed ratings, with a target price averaging $14.70. Solid Biosciences focuses on therapies for Duchenne muscular dystrophy, with its lead therapy being SGT-001.

Solid Biosciences shares are trading higher after the FDA granted orphan drug designation to its SGT-212 dual-route gene therapy for Friedreich's ataxia.