Solid Biosciences Shares Decline Despite Regulatory Milestone

Shares of Solid Biosciences traded lower on Monday, shedding as much as 3.6% in value even as the biotechnology firm announced a significant regulatory achievement. The U.S. Food and Drug Administration (FDA) granted its gene therapy candidate, SGT-212, the coveted Rare Pediatric Disease Designation. The market’s skeptical reaction pushed the stock price to a range between $5.23 and $5.26 in early afternoon trading, giving the company a market capitalization of approximately $423 million.

The FDA’s designation applies specifically to SGT-212, an investigational gene therapy targeting Friedreich’s ataxia, a neurodegenerative condition. The therapy’s mechanism involves delivering a full frataxin gene using a dual-administration method: one injection targets the Read more...