The Ratings Game: Solid Biosciences shares crater 63% on clinical hold for lead product

Solid Biosciences Inc. shares cratered 63% in Thursday trade, after the company revealed that a phase 1/2 trial for its lead Duchenne muscular dystrophy gene therapy, SGT-001, had been placed on a clinical hold by the Food and Drug Administration.

Though some on Wall Street described it as a surprise, the very same trial was previously put on a partial clinical hold by the regulator last fall — a fact the biotech SLDB, +2.68% only disclosed the day of its initial public offering.

Now there are “multiple concerns with regard to the SGT-001 program, including 1) unclear timelines to resolution of both the clinical and manufacturing clinical holds and 2) lost ground on timelines relative to the competition,” said J.P.

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