Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Solid Biosciences Inc (NASDAQ: SLDB) have confirmed that the US Food and Drug Administration (FDA) has lifted the clinical hold placed on the company’s IGNITE DMD Phase 1/2 clinical trial.
The trial was for the company’s drug SGT-001, which is a gene transfer therapy designed to address the underlying cause of Duchenne, a muscle-wasting disorder.
The company now expects to restart the trial in the first quarter of 2021.
The clinical hold was enforced in November 2019 after a severe adverse event was reported in a child administered with the treatment.
Solid Biosciences have now provided the FDA with updated safety and functional efficacy data for all patients in the IGNITE DMD trial with no additional adverse events.
The news has sent Solid’s share price surging higher. It is currently up 132% premarket at $4.78 per share after Wednesdays close at $2.03.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .