Solid Biosciences gains on FDA's 'fast track' tag for Duchenne gene therapy

Solid Biosciences

07/12/2023 18:08

** Shares of Solid Biosciences  SLDB.O  rise as much as
67.5% to an over 5-month high of $5.73; last up 57.6% in
afternoon trade
    ** Drug developer says the U.S. FDA granted fast track
designation to its gene therapy candidate SGT-003 for treatment
of Duchenne Muscular Dystrophy (DMD), a progressive
muscle-wasting disorder
    ** In November, the FDA gave its clearance to allow SLDB to
begin a clinical trial of the therapy
    ** FDA's 'fast track' status expedites the review of drug
candidates being developed to treat serious conditions 
    ** 2 of 5 brokerages rate the stock "buy" and 3 "hold";
their median PT is $7
    ** Including session's gain, stock up 4% YTD 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))