Solid Biosciences Inc (NASDAQ: SLDB) is having an incredibly strong start to the trading session this morning after the company announced that the United States Food and Drug Administration has lifted a clinical hold. Of course, the news proved to be a source of excitement for investors who are sending the stock running for the top. Today, we’ll talk about:
- The removal of the clinical hold;
- what we’re seeing from SLDB as a result; and
- what we’ll be watching for ahead.
SLDB Announces Removal Of Clinical Hold
As mentioned above, Solid Biosciences is having an incredibly strong start to the trading session this morning after announcing news surrounding a clinical hold. In a press release issued early this morning, the company announced that the United States Food and Drug Administration (FDA) has lifted a clinical hold surrounding its trial, IGNITE DMD. IGNITE DMD is a Phase I/II clinical trial that is investigating microdystrophine gene transfer (SGT-001) for the treatment of Duchenne muscular dystrophy (DMD). In the leeter to SLDB, the FDA acklowledged that the company has addressed all clinical hold questions satisfactorilly. With the clinical hold lifted, the company has started to move forward with regard to resuming the clinical trial and plans on reinitiating enrollment as soon as possible. In a statement, Ilan Ganot, Founder and CEO at SLDB, had the following to offer:
We believe SGT-001 has the potential to offer significant benefit to patients with DMD, regardless of their age or stage of disease… We are pleased to have been able to provide the FDA with a comprehensive response resulting in the removal of the clinical hold so we can continue development of this important potential treatment.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. When it comes to Solid Biosciences, the news proved to be overwhelmingly positive. After all, with the clinical hold lifted, the company is now able to continue evaluating a treatment that could become a game changer in the DMD indication if all goes well. So, it’s no surprise that the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currnetly (9:38), SLDB is trading at 29.44 per share after a gain of $2.94 per share or 1.11% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SLDB. In particular, we’re interested in following the news surrounding the IGNITE DMD clinical trial as the company has the greenlight to move forward. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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