Chardan Capital Markets Upgrades Solid Biosciences (SLDB) to Buy

Chardan Capital Markets analyst Gbola Amusa upgraded Solid Biosciences (NASDAQ: SLDB) from Neutral to Buy with a price target of $10.00 (from $7.50).

The analyst comments "On Wednesday, Solid provided an update on the IGNITE DMD phase I/II study (NCT03368742) of AAV-based gene therapy (GT), SGT-001, for Duchenne muscular dystrophy (DMD). Solid announced: (1) it has amended the IGNITE-DMD protocol and has treated a 2nd patient in its higher-dose cohort (2x10^14 vg/kg), (2) protocol changes include "adding an upper weight limit of 25 kg for at least the next patient dosed in the 2nd cohort...". Solid thus has not been precluded from dosing another patient at the 2x10^14 vg/kg dose by the independent DSMB, the IRB, or the FDA. This, to us, suggests our concerns on SGT-001 (immune-related, hepatotoxicity) may be addressable by Solid's protocol amendments and if so may mean Solid is still positioned to address potential manufacturing constraints in the AAV-based GT DMD space (e.g. unrated Sarepta Therapeutics utilizes less-scalable adherent processes that may limit supply and may mean Sarepta's product currently may cost for example $1 mm or more per patient to manufacture)."

For an analyst ratings summary and ratings history on Solid Biosciences click here. For more ratings news on Solid Biosciences click here.

Shares of Solid Biosciences closed at $6.15 yesterday.

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