On March 11, Solid Biosciences Inc. (SLDB) plunged under corrections in the after-hours following its huge gain in the regular session. There is no official announcement or SEC filing from the company to explain the recent gains.
During the regular trading session, SLDB gained a huge 37.38% after fluctuating between $0.7210 and $1.1300. The stock closed the session at a price of $1.0600 per share while 7.04 million shares exchanged hands. Consequently, the stock succumbed to corrections in the after-hours to lose 8.49%. Hence, SLDB was trading at a value of $0.9700 in the after-hours on Friday.
The Duchenne muscular dystrophy (DMD) treatment’s developer, Solid Biosciences Inc. was founded in 2013. Currently, its 110.3 million outstanding shares trade at a market capitalization of $116.91 million.
SLDB Stock Movements
Expanding sanctions and cyberattacks of Russia struck a blow to most of the stocks on March 8. While the classics saw an upsurge including basic material, others witnessed a downfall. The healthcare sector suffered immensely, as a huge number of stocks reached new lows. Among these, SLDB also reported its new low on March 08. Following this, the stock entered a mild uptrend that continued till March 10. On March 11, the stock’s bullish momentum escalated as it increased by a huge 37.38%. Moreover, the 5-day gains of the stock totaled 40.71%, which ultimately called for corrections in the after-hours.
With no recent news from the company, it seems the stock’s movements are due to external factors including the contribution from the recent low.
Recent Participations
Recently, the company participated in the SVB Leerink 11th Annual Global Healthcare Conference. SLDB’s Chief Operating Officer Joel Schneider and Chief Scientific Officer Carl Morris participated in a fireside chat at the conference on Thursday, February 17, 2022.
Before this, the company’s CEO, President, and Co-Founder IIan Ganot presented at the 40th Annual J.P. Morgan Healthcare Conference on January 13.
SLDB’s Financials
On November 03, the company reported its financial results for the third quarter of 2021.
In Q3 2021, SLDB had collaboration revenue of $3.5 million while there was none in 2020.
Moreover, the company incurred a net loss of $18.0 million in Q3 2021, against $21.2 million in the year-ago period.
Furthermore, the company ended the quarter with cash, cash equivalents, and available-for-sale securities of $229.8 million on September 30, 2021.
