February 23, 2024

24/7 Market News Snapshot 08 Jan, 2024 – Solid Biosciences Inc. (NYSE: SLDB)

Press Release

Last Price: $0.00 ▲ (+5.26%) +0.50  (2024-02-23 16:00) (Market Closed)

DENVER, Colo., 08 Jan, 2024 (www.247marketnews.com) – FOR IMMEDIATE RELEASE

Charlestown, MA – January 8, 2024 – In a notable display of market buoyancy, Solid Biosciences Inc. (Nasdaq:SLDB), a leader in genetic medicine innovation for neuromuscular and cardiac diseases, has witnessed a remarkable ascent in stock performance. Shares of the company experienced a stunning surge, closing at an impressive $8.26 – a 49.37% jump equating to a boost of $2.73 per share, on the back of a trading volume that peaked at 2.18 million.

This surge coincides with Solid Biosciences’ ecstatic announcement regarding the successful raise of approximately $108.9 million in a private placement funding round. The company, renowned for its commitment to groundbreaking research, has piqued investor interest by securing capital through a securities purchase agreement with a select group of institutional accredited investors.

Delighted by this surge of trust and financial backing, CEO Gilad Hayeem offered a statement reflecting on the achievement: “This capital advance from our highly regarded partners signifies a pivotal milestone for Solid Biosciences. It embodies a substantial endorsement of our mission to bring radical improvements to genetic medicine. This financial backing is instrumental in empowering our continuous pursuit to convert scientific innovation into viable patient therapies.”

Scheduled for completion on or about January 11, 2024, subject to meeting customary closing conditions, this private placement adheres strictly to Nasdaq’s “Minimum Price” requirements, showcasing the company’s commitment to regulatory compliance.

The affirmative investor response and the fresh infusion of funds are set to catalyze Solid Biosciences’ progress, underscoring the vigor of its therapeutic pipeline. The company’s bright future promises advancements that stand to benefit patients dealing with some of the most challenging medical conditions.

For more information and any further inquiries:

Solid Biosciences Investor Relations
Telephone: (123) 456-7890
Email: [email protected]

This communication contains forward-looking statements relating to the company’s future events, including the consummation of the private placement and expected use of net proceeds, and is subject to the safe harbor provisions under The Private Securities Litigation Reform Act of 1995.

Source: Solid Biosciences Inc.

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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