Solid Biosciences restructures, cuts 35% of staff; Q1 net loss $25.3M; COO resigns

Solid Biosciences Inc.

Headcount reduced ~35% to align resources behind SGT-001 and SGT-003; cash runway extended into Q2 2024.
COO Joel Schneider to resign effective May 27, 2022 to become CEO of a private gene therapy company.
Q1 net loss $25.3M vs $16.9M YoY; collaboration revenue $1.9M (down from $3.3M); R&D expense $19.9M.
Cash, equivalents and securities $180.1M as of March 31, 2022.
SGT-003 IND submission expected early 2023; SGT-001 transitioning to commercial-scale manufacturing.

item 2.02 item 5.02 item 9.01

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Departed

Joel Schneider

Chief Operating Officer

SLDB · Solid Biosciences Inc.

Effective: 2022-05-27
Filed: April 27, 2022, 7:59 PM ET

Joel Schneider, Chief Operating Officer of the Company, notified the Company of his intent to resign to accept a role as chief executive officer of a privately-held novel, viral-based gene therapy platform company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Joel Schneider resigned as Chief Operating Officer at Solid Biosciences Inc..

Action: resigned
Role: Chief Operating Officer

Exact text from the filing

Joel Schneider, Chief Operating Officer of the Company, notified the Company of his intent to resign to accept a role as chief executive officer of a privately-held novel, viral-based gene therapy platform company.

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Solid Biosciences Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-121607

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