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Solid Biosciences Inc. (NASDAQ:SLDB), currently trading at $5.78 and showing a remarkable 48.88% gain over the past week, recently witnessed a significant stock purchase by Perceptive Advisors LLC. On February 19, the investment firm acquired 5 million shares of Solid Biosciences’ common stock at a price of $4.03 per share, amounting to a total transaction value of approximately $20.15 million. This acquisition increases Perceptive Advisors’ total holdings to 11,833,539 shares.
The securities acquired are directly held by Perceptive Life Sciences Master Fund Ltd., with Perceptive Advisors LLC serving as the investment manager. Joseph Edelman, the managing member of Perceptive Advisors, is also involved in this transaction. It’s important to note that Edelman and the advisor disclaim beneficial ownership of the securities, except for their indirect pecuniary interest.
Additionally, Perceptive Xontogeny Venture Fund, L.P., another entity associated with Edelman, holds 73,107 shares of Solid Biosciences. This fund is managed by Perceptive Advisors, with Edelman playing a significant role in its operations.
These transactions underscore Perceptive Advisors’ continued interest and investment in Solid Biosciences, highlighting the firm’s strategic positioning within the life sciences sector.
In other recent news, Solid Biosciences has reported positive initial clinical data from its Phase 1/2 INSPIRE DUCHENNE trial for its gene therapy candidate, SGT-003. The trial showed an average microdystrophin expression of 110% among the first three participants, with no serious adverse events observed. This promising data has led to increased optimism among analysts, with JMP Securities maintaining a Market Outperform rating and a $15.00 price target for the company. Additionally, Solid Biosciences announced a $200 million stock and warrant offering to address near-term financing needs, involving well-known investors such as Adage Capital Partners (WA:CPAP) and Bain Capital Life Sciences.
The company has also received FDA Fast Track designation for SGT-212, a gene therapy aimed at treating Friedreich’s ataxia, which could expedite its development and review process. This designation allows for increased communication with the FDA and potentially a priority review in the future. Solid Biosciences plans to initiate a Phase 1b trial for SGT-212 in the second half of 2025. The company’s recent capital raise and ongoing trials reflect its commitment to advancing therapies for rare diseases. Analysts from Truist and Leerink Partners have noted the potential of Solid Biosciences’ therapies to impact the treatment landscape for Duchenne muscular dystrophy and other genetic conditions.
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