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SLDB

Solid Biosciences Inc.

SLDB

Solid Biosciences Inc. • NASDAQ
$5.43 ▲ 1.31% (+0.07)
Market Cap $423.05 M
52w High $7.37
52w Low $2.41
Dividend Yield 0%
P/E -2.19
Volume 229.46K
Outstanding Shares 77.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $48.058M ▲ $-45.776M ▼ 0% $-0.48 ▼ $-45.4M ▼
Q2-2025 $0 $41.307M ▲ $-39.48M ▼ 0% $-0.42 ▲ $-39.034M ▼
Q1-2025 $0 $39.645M ▼ $-39.282M ▲ 0% $-0.59 ▲ $-38.807M ▲
Q4-2024 $0 $39.896M ▲ $-42.597M ▼ 0% $-0.8 ▼ $-42.034M ▼
Q3-2024 $0 $35.182M $-32.725M 0% $-0.79 $-32.238M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $236.142M ▼ $273.914M ▼ $55.966M ▲ $217.948M ▼
Q2-2025 $268.11M ▼ $308.292M ▼ $50.001M ▲ $258.291M ▼
Q1-2025 $306.918M ▲ $343.904M ▲ $49.441M ▼ $294.463M ▲
Q4-2024 $148.92M ▼ $188.662M ▼ $51.416M ▲ $137.246M ▼
Q3-2024 $171.117M $211.826M $44.804M $167.022M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-45.776M ▼ $-33.472M ▲ $-45.273M ▼ $1.176M ▲ $-77.569M ▼ $-33.557M ▲
Q2-2025 $-39.48M ▼ $-37.412M ▼ $-32.732M ▼ $-1.601M ▼ $-71.745M ▼ $-37.789M ▼
Q1-2025 $-39.282M ▲ $-31.85M ▼ $-27.463M ▼ $189.728M ▲ $130.415M ▲ $-31.976M ▼
Q4-2024 $-42.597M ▼ $-29.645M ▼ $38.567M ▲ $6.94M ▲ $15.862M ▲ $-29.849M ▼
Q3-2024 $-32.725M $-23.708M $-10.987M $3.256M $-31.439M $-23.723M

Five-Year Company Overview

Income Statement

Income Statement SLDB is still very much a research‑stage biotech. It has essentially no product revenue yet, so the income statement is driven almost entirely by R&D and other operating expenses. Losses have been steady year after year, which is typical for early‑stage gene therapy companies that are investing heavily in clinical trials and platform development. Over the last few years, operating losses and net losses have remained in a similar range rather than spiraling higher, which suggests some discipline in cost control. However, earnings per share look very volatile and deeply negative, partly influenced by capital raises and a reverse stock split. Overall, this is a classic “pre‑revenue, high‑spend” profile where future profitability depends entirely on successful approval and commercialization or partnering of its therapies.

Balance Sheet

Balance Sheet The balance sheet shows a small but positive asset base, with cash and equivalents making up the bulk of total assets. Cash levels have come down from earlier peaks but do not appear to have collapsed, indicating the company is managing its runway while continuing R&D. Debt is present but modest relative to total assets and equity, so the company is not heavily leveraged. Shareholders’ equity remains positive, which is important for a company that is consistently loss‑making. That said, with no commercial revenue, SLDB is structurally dependent on external funding over time—either through additional equity, partnerships, or licensing income—to support its clinical programs.

Cash Flow

Cash Flow Cash flow is dominated by cash used in operations, reflecting spending on research, clinical trials, and overhead. Operating cash outflows have been fairly consistent year to year, which suggests the burn rate is relatively stable rather than accelerating sharply. Capital spending is minimal, so almost all cash use is for people, studies, and platform development rather than heavy equipment or facilities. Free cash flow is negative every year, so the company must periodically raise new funds to keep moving its pipeline forward. The key risk is how quickly cash is consumed relative to its ability to secure new financing or generate non‑dilutive cash from partnerships and licensing.

Competitive Edge

Competitive Edge Within gene therapy, SLDB is focused on neuromuscular and cardiac diseases, with Duchenne muscular dystrophy (DMD) as the lead indication. This is a crowded and high‑stakes field, but SLDB’s edge is its proprietary AAV capsid, designed to target muscle more effectively and avoid the liver, which could translate into better efficacy and safety if clinical data continue to support it. The company is up against large and established players in DMD, but recent setbacks for some competitors and the differentiated design of SLDB’s lead program give it a defined niche. Its decision to license the capsid technology to other companies is notable: it helps validate the platform, builds relationships across the industry, and could eventually provide milestone and royalty income. Overall, SLDB’s competitive position is based less on current market share—since it has no approved products—and more on the potential of its delivery technology and the strength of its partnerships and pipeline breadth in rare neuromuscular and cardiac conditions.

Innovation and R&D

Innovation and R&D Innovation is the company’s core asset. SLDB’s proprietary AAV capsid is engineered for better targeting of skeletal and heart muscle with reduced liver exposure, which directly addresses key challenges in gene therapy. The lead program for DMD uses this capsid plus a microdystrophin construct that includes an additional functional domain aimed at improving muscle protection, making it clearly differentiated from existing therapies. Beyond DMD, SLDB is building a multi‑program pipeline across difficult rare diseases in neurology and cardiology, with several programs already recognized by regulators through special designations. The company is also expanding into new cardiac indications through collaborations with leading academic centers and is actively developing next‑generation capsids and manufacturing capabilities. In short, SLDB is highly R&D‑centric: its value proposition rests on advancing its gene therapy platform, generating strong clinical data, and turning its capsid technology into both internal products and external licensing opportunities.

Summary

SLDB is a classic clinical‑stage gene therapy company: no meaningful revenue yet, recurring operating losses, and steady cash burn, but anchored by a specialized technology platform and a focused rare‑disease pipeline. Financially, the company has a lean balance sheet with cash as the main asset, modest debt, and ongoing negative free cash flow, implying continued reliance on external funding over time. Operationally, it is concentrating its resources on a differentiated DMD gene therapy and a growing set of neuromuscular and cardiac programs. Strategically, SLDB’s main strengths are its proprietary AAV capsid, early but encouraging clinical signals, regulatory designations in multiple programs, and a hybrid approach that combines internal development with external licensing. The main risks are typical for this type of biotech: clinical trial uncertainty, regulatory risk, timing and cost of commercialization, and the need to repeatedly access capital. The company’s future will be shaped primarily by upcoming clinical data, its ability to turn its capsid into a widely adopted platform, and its success in securing funding and partnerships to carry its programs through late‑stage development.

NEWS

November 17, 2025 · 8:00 AM UTC

Solid Biosciences Announces Licensing Agreement with Andelyn Biosciences for the Use of Proprietary Next-Generation Capsid AAV-SLB101

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November 11, 2025 · 8:00 AM UTC

Solid Biosciences to Participate at Upcoming Investor Conferences

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November 6, 2025 · 8:00 AM UTC

Solid Biosciences Awarded Innovation Passport Designation Under the New UK Innovative Licensing and Access Pathway for SGT-003, an Investigational Gene Therapy for Duchenne Muscular Dystrophy

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November 4, 2025 · 4:05 PM UTC

Solid Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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November 3, 2025 · 4:05 PM UTC

Solid Biosciences Reports Third Quarter 2025 Financial Results and Provides Update on INSPIRE DUCHENNE Clinical Trial Progress and Planned Regulatory Discussions

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