Solid Biosciences Inc.
SLDB · Biological Products, (No Diagnostic Substances) · 98.4M shares · +128%/yr ↑ dilution · EDGAR filings ↗
Reference price $5.82 · est. market cap ~$573M — last insider sale, 2026-02-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — gene-therapy clinical, heavy burn ($157M), funded.
Strengths
- Liquidity — current ratio 6.1 (62nd)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-157.4M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +128%/yr over 3y (dilution, book value/share -93%)
- Insider sellingInsider selling — 23 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$3M, last 6mo) Form 4 ↗
- Trial readout soonUpcoming trial readout ~2026-10-15 — PHASE1/PHASE2 · Duchenne Muscular Dystrophy
- Notable holderHeld by 5 notable fund(s): FMR LLC, CITADEL ADVISORS LLC, STATE STREET CORP +2 more (as of 2026-03-31)
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-96.8%
Return on assets
-75.0%
Current ratio
6.1×
Free cash flow
-$157M
EBITDA
-$178M
Tangible book value
$180M
Cash & investments
$188M
Cash runway
5q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-02 | SMITH IAN F | Option exercise | 3.4K | — |
| 2026-02-18 | Cumbo Alexander | Sell | 17K | $5.82 |
| 2026-02-18 | Howton David T | Sell | 7.5K | $5.82 |
| 2026-02-18 | Brooks Gabriel | Sell | 0 | $5.82 |
| 2026-02-18 | Ganot Ilan | Sell | 2.7K | $5.82 |
| 2026-02-18 | Tan Kevin | Sell | 5.4K | $5.82 |
| 2026-02-18 | Herzich Paul | Sell | 3.6K | $5.82 |
| 2026-02-18 | Hanrahan Jessie | Sell | 4.1K | $5.82 |
| 2026-02-13 | Brooks Gabriel | Option exercise | 11K | — |
| 2026-02-13 | Cumbo Alexander | Option exercise | 30K | — |
| 2026-02-13 | Hanrahan Jessie | Option exercise | 8.1K | — |
| 2026-02-13 | Ganot Ilan | Option exercise | 4.9K | — |
| 2026-02-13 | Herzich Paul | Option exercise | 7.2K | — |
| 2026-02-13 | Howton David T | Option exercise | 15K | — |
| 2026-02-13 | Tan Kevin | Option exercise | 11K | — |
| 2026-02-04 | Howton David T | Sell | 19K | $6.44 |
| 2026-02-04 | Cumbo Alexander | Sell | 49K | $6.44 |
| 2026-02-04 | Ganot Ilan | Sell | 7.2K | $6.44 |
| 2026-02-04 | Tan Kevin | Sell | 15K | $6.44 |
| 2026-02-04 | Brooks Gabriel | Sell | 13K | $6.44 |
| 2026-02-04 | Hanrahan Jessie | Sell | 12K | $6.44 |
| 2026-02-04 | Herzich Paul | Sell | 11K | $6.44 |
| 2026-02-02 | Herzich Paul | Sell | 26K | $6.44 |
| 2026-02-02 | Tan Kevin | Sell | 27K | $6.44 |
| 2026-02-02 | Cumbo Alexander | Sell | 80K | $6.44 |
| 2026-02-02 | Hanrahan Jessie | Sell | 27K | $6.44 |
| 2026-02-02 | Brooks Gabriel | Sell | 28K | $6.44 |
| 2026-02-02 | Howton David T | Sell | 38K | $6.44 |
| 2026-01-31 | Howton David T | Option exercise | 42K | — |
| 2026-01-31 | Hanrahan Jessie | Option exercise | 28K | — |
| 2026-01-31 | Brooks Gabriel | Option exercise | 28K | — |
| 2026-01-31 | Herzich Paul | Option exercise | 25K | — |
| 2026-01-31 | Tan Kevin | Option exercise | 33K | — |
| 2026-01-31 | Ganot Ilan | Option exercise | 15K | — |
| 2026-01-31 | Cumbo Alexander | Option exercise | 100K | — |
| 2026-01-29 | Hanrahan Jessie | Option exercise | 55K | — |
| 2026-01-29 | Brooks Gabriel | Option exercise | 59K | — |
| 2026-01-29 | Howton David T | Option exercise | 79K | — |
| 2026-01-29 | Tan Kevin | Option exercise | 57K | — |
| 2026-01-29 | Herzich Paul | Option exercise | 55K | — |
| 2026-01-29 | Cumbo Alexander | Option exercise | 169K | — |
| 2026-01-28 | Ganot Ilan | Sell | 191 | $6.59 |
| 2026-01-27 | Ganot Ilan | Option exercise | 3.9K | — |
| 2026-01-27 | Ganot Ilan | Option exercise | 389 | — |
| 2026-01-13 | Tan Kevin | Sell | 5.7K | $5.27 |
| 2026-01-09 | Tan Kevin | Option exercise | 11K | — |
| 2026-01-06 | SMITH IAN F | Option exercise | 4.6K | — |
| 2026-01-05 | Ganot Ilan | Sell | 1.1K | $5.43 |
| 2026-01-03 | Ganot Ilan | Option exercise | 3.0K | — |
| 2025-12-03 | Herzich Paul | Sell | 2.7K | $5.11 |
| 2025-12-03 | Howton David T | Sell | 4.9K | $5.11 |
| 2025-12-03 | Cumbo Alexander | Sell | 11K | $5.11 |
| 2025-12-03 | Hanrahan Jessie | Sell | 4.5K | $5.11 |
| 2025-12-02 | Howton David T | Option exercise | 13K | — |
| 2025-12-02 | Cumbo Alexander | Option exercise | 29K | — |
| 2025-12-02 | Herzich Paul | Option exercise | 7.2K | — |
| 2025-12-02 | Hanrahan Jessie | Option exercise | 12K | — |
| 2025-11-10 | Ganot Ilan | Sell | 3.3K | $4.12 |
| 2025-10-20 | Brooks Gabriel | Sell | 2.9K | $5.96 |
| 2025-10-18 | Brooks Gabriel | Option exercise | 9.8K | — |
| 2025-10-06 | SMITH IAN F | Option exercise | 4.6K | — |
| 2025-07-06 | SMITH IAN F | Option exercise | 4.6K | — |
| 2025-04-06 | SMITH IAN F | Option exercise | 4.6K | — |
| 2025-03-11 | Kahn Clare | Buy | 1.9K | $5.34 |
| 2025-02-19 | PERCEPTIVE ADVISORS LLC | Buy | 5.0M | $4.03 |
| 2025-02-19 | Bain Capital Life Sciences Investors, LLC | Buy | 1.0M | $4.03 |
| 2025-02-18 | Adage Capital Management, L.P. | Buy | 253K | $7.56 |
| 2025-02-14 | Tan Kevin | Sell | 3.2K | $3.96 |
| 2025-02-14 | Hanrahan Jessie | Sell | 3.1K | $3.96 |
| 2025-02-14 | Brooks Gabriel | Sell | 3.3K | $3.96 |
| 2025-02-14 | Herzich Paul | Sell | 2.7K | $3.96 |
| 2025-02-14 | Cumbo Alexander | Sell | 11K | $3.96 |
| 2025-02-14 | Ganot Ilan | Sell | 1.7K | $3.96 |
| 2025-02-14 | Howton David T | Sell | 5.6K | $3.96 |
| 2025-02-13 | Brooks Gabriel | Option exercise | 11K | — |
| 2025-02-13 | Cumbo Alexander | Option exercise | 30K | — |
| 2025-02-13 | Herzich Paul | Option exercise | 7.2K | — |
| 2025-02-13 | Ganot Ilan | Option exercise | 4.9K | — |
| 2025-02-13 | Hanrahan Jessie | Option exercise | 8.1K | — |
| 2025-02-13 | Howton David T | Option exercise | 15K | — |
| 2025-02-13 | Tan Kevin | Option exercise | 11K | — |
| 2025-01-28 | Ganot Ilan | Sell | 144 | $3.11 |
| 2025-01-27 | Ganot Ilan | Option exercise | 388 | — |
| 2025-01-27 | Ganot Ilan | Option exercise | 3.9K | — |
| 2025-01-10 | Tan Kevin | Sell | 4.1K | $3.89 |
| 2025-01-09 | Tan Kevin | Option exercise | 11K | — |
| 2025-01-06 | Ganot Ilan | Sell | 1.1K | $4.31 |
| 2025-01-03 | SMITH IAN F | Option exercise | 3.3K | — |
| 2025-01-03 | Ganot Ilan | Option exercise | 3.0K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07160634 ↗ | A Study of SGT-003 Gene Therapy in Ambulant Males With Duchenne Muscular Dystrophy (IMPACT DUCHENNE) Duchenne Muscular Dystrophy | PHASE3 | Recruiting | 2029-01-01 |
| NCT07180355 ↗ | A Study of SGT-212 Gene Therapy in Friedreich's Ataxia Friedreich's Ataxia (FA) | PHASE1 | Recruiting | 2028-03-21 |
| NCT07148089 ↗ | A Study of SGT-501 Gene Therapy in Catecholaminergic Polymorphic Ventricular Tachycardia (CPVT) Catecholaminergic Polymorphic Ventricular Tachycardia | PHASE1 | Recruiting | 2027-06-01 |
| NCT06138639 ↗ | A Study of SGT-003 Gene Therapy in Duchenne Muscular Dystrophy (INSPIRE DUCHENNE) Duchenne Muscular Dystrophy | PHASE1/PHASE2 | Recruiting | 2027-05-06 |
| NCT03368742 ↗ | Microdystrophin Gene Transfer Study in Adolescents and Children With DMD Duchenne Muscular Dystrophy | PHASE1/PHASE2 | Active Not Recruiting | 2026-10-15 |
| NCT05657938 ↗ | Evaluation of Home Based Assessments on Participants With DMD Duchenne Muscular Dystrophy | — | Completed | 2023-04-04 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | Shareholder vote | filing ↗ |
| 2026-04-10 | Exec/director change | filing ↗ |
| 2026-03-12 | Reg FDOther | filing ↗ |
| 2026-03-06 | Material agreementResults3.02OtherExhibits | filing ↗ |
| 2025-11-03 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-06-13 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2025-05-15 | OtherExhibits | filing ↗ |
| 2025-02-18 | Other | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-10 | 0001193125-26-265804 ↗ |
| 10-Q | 2026-05-12 | 2026-03-31 | 0001193125-26-219337 ↗ |
| 8-K | 2026-04-10 | 2026-04-10 | 0001193125-26-151259 ↗ |
| 10-K | 2026-03-19 | 2025-12-31 | 0001193125-26-115928 ↗ |
| 8-K | 2026-03-12 | 2026-03-11 | 0001193125-26-102489 ↗ |
| 8-K | 2026-03-06 | 2026-03-06 | 0001193125-26-096709 ↗ |
| 10-Q | 2025-11-03 | 2025-09-30 | 0001193125-25-262818 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001193125-25-262795 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0000950170-25-107279 ↗ |
| 8-K | 2025-06-13 | 2025-06-12 | 0000950170-25-086215 ↗ |
| 10-Q | 2025-05-15 | 2025-03-31 | 0000950170-25-072560 ↗ |
| 8-K | 2025-05-15 | 2025-05-15 | 0000950170-25-072792 ↗ |