Solid tumbles after clinical hold

Solid Biosciences Inc. (NASDAQ:SLDB) sank $16.99 (65%) to $9.32 on Thursday, shedding about $600 million in market cap, after the company announced late Wednesday that FDA placed a clinical hold on the Phase I/II IGNITE DMD trial of SGT-001 to treat Duchenne muscular dystrophy (see BioCentury Extra, March 14).

The hold follows hospitalization of the first patient treated with the candidate. SGT-001 is a gene therapy delivered via an adeno-associated viral (AAV) vector designed to stabilize the dystrophin glycoprotein complex by delivering microdystrophin...