Solid Biosciences (SLDB) stock crashes from disappointing preliminary trials

 

Shares of Solid Biosciences (SLDB) stock dropped to all-time lows on Thursday, falling as low as $5.97. SLBD stock closed the day at $7.19 for a loss of more than -67%. The decline followed an announcement from the company on preliminary findings for SGT-001, an experimental gene-therapy treatment for patients with Duchenne muscular dystrophy.

SGT-001 uses gene therapy to synthesize dystrophin, a part of a protein complex that keeps muscle cells intact, which is lacking in people with muscular dystrophy. The synthesized version of dystrophin is called microdystrophin.

The preliminary data showed that the gene-therapy only produced low levels of the microdystrophin protein at the starting dose in study patients. While these preliminary results are discouraging, the company remains confident in its approach, and is working to continue testing the treatments potential at higher doses.

SLDB is higher by 0.83%, while the S&P 500 has fallen -0.89% as of 12:01 PM on Friday, Feb 8. SLDB stock is higher by $0.06 from the previous closing price of $7.19 on volume of 1,331,226 shares.

Over the past year the S&P 500 is higher by 3.91% while Solid Bio stock has fallen -72.49%. SLDB stock lost -$1.22 share in the most-recent quarter.

Meanwhile, the major indices are down. The NASDAQ is lower by -0.54% to 7,248.94. The S&P 500 has fallen -0.89% to 2,681.98. The S&P 500 is lower by -0.89% to 2,681.98.

Stock Score Report, InvestorsObserver’s proprietary scoring system gives SLDB stock a score of 18 out of a possible 100. That score is based on three component scores. A fundamental score of 55, a long-term technical score of 0 and a short-term technical score of 0. Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.

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Symbols: SLDB

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