Duchenne player Solid making major cuts

Solid Biosciences said yesterday it is restructuring — laying off a third of its workforce in an effort to double down resources for its gene therapy program for Duchenne muscular dystrophy. Notably, Solid’s chief operating officer and chief medical officer will be leaving the company. The company’s stock crashed about 15% after the announcement.

The Cambridge biotech’s Phase 1/2 trial for SGT-001 was put on clinical hold this past November after a Duchenne patient suffered serious kidney and blood-related injuries. But in December, the company reported biomarker data from two patients that seemed to validate the continued study of the gene therapy. 

CEO Ilan Ganot said in a statement that “in order to effectively evaluate its potential for patients, we made some difficult choices to focus our resources and help extend our cash runway.”