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Why Solid Biosciences Stock Is Trading Higher Today

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Tanzeel Akhtar
·1 min read
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Solid Biosciences (NASDAQ: SLDB) shares are trading higher on Thursday after the company announced the FDA has lifted the clinical hold placed on the company's IGNITE DMD Phase 1/2 clinical trial.

Solid Biosciences is a life science company. It is engaged in manufacturing of specialty and generic drugs. The company is involved in curing Duchenne muscular dystrophy (DMD), a genetic muscle-wasting disease predominantly affecting boys, with symptoms that usually manifest between three and five years of age.

Its lead product candidate, the SGT-001, is a gene transfer under development to restore functional dystrophin protein expression in patients' muscles. The company's pipeline products are the SB-001 and solid suit. The company has categorized its programs into corrective therapies, disease-modifying therapies, and assistive devices. In the assistive device program, the company focuses on producing a wearable assistive device for patients with DMD.

Solid Biosciences shares traded up 121.67% to $4.50 on Thursday. The stock has a 52-week high of $13.58 and a 52-week low of $1.93.

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