Wed, May 15, 11:31 AM (72 days ago)
Solid Biosciences Inc.'s Q1 2024 financial report shows significant improvements in liquidity and a reduction in net loss. The company reported $214.2 million in current assets, a substantial increase from $129.7 million at the end of 2023, primarily due to higher cash, cash equivalents, and available-for-sale securities. Operating expenses decreased to $26.9 million from $32.0 million in Q1 2023, driven by reduced research and development costs, particularly for the SGT-003 program. General and administrative expenses slightly increased to $8.0 million. The net loss for Q1 2024 was $24.3 million, an improvement from $30.1 million in Q1 2023. Cash used in operating activities was $25.2 million, while investing activities used $38.5 million. Financing activities provided $107.2 million, mainly from a private placement and an at-the-market offering. The company believes its current liquidity will fund operations into 2026.