Solid Biosciences CTO Herzich sells $10,644 in stock

Paul Herzich, Chief Technology Officer of Solid Biosciences Inc. (NASDAQ:SLDB), recently executed a stock transaction that involved the sale of 2,688 shares of common stock. The shares were sold at a price of $3.96 each, totaling $10,644. The stock, which has shown significant volatility according to InvestingPro data, has since risen to $5.30, marking a notable 22% gain over the past week. This transaction, dated February 14, 2025, was part of a pre-arranged plan to cover withholding taxes following the vesting of restricted stock units (RSUs).

On February 13, 2025, Herzich also acquired 7,187 shares of common stock through the vesting of RSUs, which did not involve any cash transaction. Following these transactions, Herzich holds 18,388 shares of Solid Biosciences. The RSUs were part of a grant made on February 13, 2024, and are set to vest over four years.

In other recent news, Solid Biosciences has been making significant strides in the biotechnology field. The company has reported positive initial clinical data from its Duchenne gene therapy candidate, SGT-003. The trial data suggested potential cardiac benefits from the therapy, and analysts from Truist and Leerink Partners have commented on the significance and potential impact of these findings.

Solid Biosciences also recently announced a significant stock and pre-funded warrant offering, aiming to raise approximately $200 million before fees and expenses. This offering has attracted a mix of new and existing investors, including notable names such as Adage Capital Partners (WA:CPAP), Bain Capital Life Sciences, and RA Capital Management.

On the analyst front, JMP Securities has reiterated their Market Outperform rating on Solid Biosciences, highlighting the company’s progress in its INSPIRE DUCHENNE trial. Truist Securities also began coverage on the company, assigning a Buy rating and setting a price target of $16.00 per share.

In addition, Solid Biosciences has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for its gene therapy candidate SGT-212, aimed at treating Friedreich’s ataxia, a serious genetic neurodegenerative disease. The company is set to begin a Phase 1b trial for this therapy in the second half of 2025.

These are among the recent developments for Solid Biosciences, which continues to make advances in its gene therapy programs for neuromuscular diseases.

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