Here's Why Solid Biosciences Collapsed Today
Shares of Solid Biosciences (NASDAQ: SLDB) fell over 71% today after the company reported that a clinical trial evaluating its lead drug candidate, SGT-001, had been placed on clinical hold by the U.S. Food and Drug Administration (FDA). This is the third time that development of the experimental drug, a gene therapy aimed at Duchenne muscular dystrophy (DMD), has been halted by regulators.
This time, the third patient dosed in the high-dose cohort of the IGNITE DMD study experienced a serious adverse event related to treatment. The patient experienced kidney damage, a decrease in red blood cell count, and cardiopulmonary insufficiency. He is now in recovery.
As of 11:38 a.m. EST, the pharma stock had settled to a 69.4% loss.
Source Fool.com
