BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the May 29, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Solid Biosciences Inc. (“Solid Biosciences” or the “Company”) (NASDAQ: SLDB) securities between January 22, 2018, and March 14, 2018, inclusive (the “Class Period”). Solid Biosciences investors have until May 29, 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 email@example.com.
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 share price fell $1.20 per share, or more than 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 more than 60%, to close at $9.32 per share on March 15, 2018, thereby further 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 during the Class Period you may move the Court no later than May 29, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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