BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities of Solid Biosciences Inc. (“Solid Biosciences” or the “Company”) (NASDAQ: SLDB) securities between January 25, 2018, and March 14, 2018, inclusive (the “Class Period”). Solid Biosciences investors have until May 28, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Solid Biosciences investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On January 30, 2018, an article was published by various medical experts highlighting the risks of studies using high doses of gene therapies using adeno-associated virus (AAV) - the delivery system used by Solid Biosciences’ lead drug candidate SGT-001. One of the article’s co-authors was Dr. James Wilson, a former member of the Solid Biosciences’ advisory board. On this news the Company’s shares fell $1.20 per share, or over 5%, to close on January 30, 2018 at $22.50 per share.
Then on March 14, 2018, the Company announced that the U.S. Food and Drug Administration (“FDA”) had placed a clinical hold on the SGT-001 Phase I/II clinical trial, IGNITE DMD, because of adverse events associated with the therapy. On this news, Solid Biosciences’ share price fell $16.99 per share, or over 60%, to close at $9.32 per share on March 15, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Solid Biosciences’ lead drug candidate SGT-001 had a high likelihood of causing adverse events in patients; (2) that Solid Biosciences misled investors regarding the toxicity of SGT-001; and (3) that, as a result of the foregoing, Defendants’ statements in the Registration Statement regarding Solid Biosciences’ business, operations, and prospects, were materially false and/or misleading.
If you purchased shares of Solid Biosciences, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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