Solid Biosciences Inc.

Listed Company

SLDBCIK 0001707502NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-174.30M

Total Assets

$232.54M

Equity

$180.01M

Shares Out

98.39M

Op. Cash Flow

$-156.30M

Business

Solid Biosciences Inc. is a life sciences company that develops gene therapy candidates targeting rare neuromuscular and genetic cardiac diseases. It advances clinical- and preclinical-stage gene transfer products, including SGT-003 for Duchenne muscular dystrophy, SGT-212 for Friedreich’s ataxia, SGT-501 for CPVT, SGT-601 for TNNT2-mediated dilated cardiomyopathy, and additional discovery-stage cardiac programs. The company organizes its operations into neuromuscular programs, cardiac programs and platform technology efforts (novel capsids, genetic regulators, immunomodulation and manufacturing). It conducts clinical trials and regulatory interactions primarily in the United States and internationally, and relies on third-party contract manufacturers for GMP supply.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	140	96	77	78	59
General and administrative	39	33	28	29	27
Total operating expenses	179	130	104	115	86
Loss from operations	−179	−130	−104	−106	−72
Interest income	10	9	8	3	64,000
Interest expense	203,000	−340,000	−440,000	—	—
Change in fair value of derivative liabilities	−6	−5	—	—	—
Other income, net	824,000	652,000	1	−381,000	2,000
Total other income, net	5	5	8	20	66,000
Net loss	−174	−125	−96	−86	−72
Net loss per share, basic	−1.99	−3.06	−4.83	−10.1	−10.14
Net loss per share, diluted	−1.99	−3.06	−4.83	−10.1	−10.14
Weighted average shares of common stock outstanding used to compute basic net loss per share	88	41	20	9	7
Weighted average shares of common stock outstanding, used to compute diluted net loss per share	88	41	20	9	7

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	60	80	74	155	119
Available-for-sale securities	128	69	50	58	89
Prepaid expenses and other current assets	16	8	6	6	15
Restricted cash, current	1	0	—	—	—
Total current assets	205	157	130	220	223
Operating lease, right-of-use assets	22	24	27	29	1
Property and equipment, net	4	5	7	10	6
Other non-current assets	223,000	366,000	209,000	175,000	94,000
Restricted cash, net of current portion	768,000	2	2	2	2
Total non-current assets	27	31	35	—	—
Total assets	233	189	165	260	232
Accounts payable	3	4	2	3	4
Accrued expenses and other current liabilities	19	20	10	17	10
Operating lease liabilities, current	2	2	2	2	1
Finance lease liabilities	0	1	469,000	668,000	232,000
Derivative liabilities	9	3	0	—	—
Total current liabilities	33	30	15	23	24
Operating lease liabilities, net of current portion	19	21	23	24	275,000
Total non-current liabilities	19	21	24	—	—
Total liabilities	53	51	38	49	24
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024	—	—	—	—	—
Common stock, $0.001 par value; 240,000,000 and 120,000,000 shares authorized at December 31, 2025 and 2024, respectively; 78,967,888 and 40,468,141 shares issued and outstanding at December 31, 2025 and 2024, respectively	79,000	40,000	20,000	20,000	7,000
Additional paid-in capital	1,138	921	785	774	685
Accumulated other comprehensive income	52,000	47,000	15,000	−68,000	−45,000
Accumulated deficit	−958	−783	−659	−563	−477
Total stockholders' equity	180	137	126	212	208
Total liabilities and stockholders' equity	233	189	165	260	232

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of discount on available-for-sale securities	−2	−4	−2	233,000	1
Equity-based compensation expense	17	11	8	8	13
Depreciation and amortization expense	2	2	3	2	3
Non-cash lease expense	2	2	3	—	—
Non-cash acquired in-process research and development	0	3	0	—	—
Common stock issued as upfront payment for collaboration and license agreement	0	2	0	—	—
Change in fair value of derivative liabilities	6	5	0	—	—
Other	−239,000	−88,000	374,000	—	—
Prepaid expenses and other current and non-current assets	−8	−2	598,000	4	−9
Accounts payable	−1	2	−764,000	−5	1
Change in operating lease liability	−2	−2	−2	—	—
Accrued expenses and other current and non-current liabilities	4	5	−7	6	−2
Net cash used in operating activities	−156	−100	−94	−98	−78
Purchases of property and equipment	−1	−654,000	−2	−3	−1
Proceeds from sale of property and equipment	85,000	5,000	0	600,000	—
Proceeds from sales and maturities of available-for-sale securities	179	189	129	213	51
Purchases of available-for-sale securities	−236	−204	−117	−183	−141
Net cash used in investing activities	−58	−16	10	59	−91
Proceeds from issuance of common stock and pre-funded warrants in public offering, net of underwriting discounts and commissions	190	0	—	—	—
Payments of common stock and pre-funded warrants issuance costs in public offering	−2	0	—	—	—
Proceeds from issuance of common stock and pre-funded warrants in private placement	0	109	0	—	—
Payments of common stock and pre-funded warrants issuance costs in private placement	0	−5	0	—	—
Proceeds from issuance of common stock in at-the-market public offering, net of sales commissions	7	18	3	—	—
Proceeds from exercises of common stock options	6,000	457,000	0	—	41,000
Employee stock purchase plan purchases	425,000	337,000	148,000	—	—
Payments of principal portion of finance lease obligations	−723,000	−473,000	—	—	—
Net cash provided by financing activities	194	122	3	75	135
Net (decrease) increase in cash, cash equivalents and restricted cash	−20	6	−81	36	−34
Operating cash flows for operating leases	4	4	5	—	—
Operating cash flows for finance leases	91,000	469,000	375,000	—	—
Financing cash flows for finance leases	723,000	340,000	—	—	—
Common Stock Issued As Payment For Developmental Milestone Consideration	5	0	—	—	—
Right-of-use assets obtained in exchange for operating lease liabilities	0	407,000	121,000	29	310,000
Decrease in right-of-use asset and lease liability due to lease termination	0	−261,000	−252,000	−464,000	−1
Property and equipment purchases included in accounts payable and accruals	46,000	0	76,000	527,000	104,000

Filings

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