Well, it has been quite the month for Solid Biosciences Inc. (NASDAQ:SLDB). For this life science company, March has been filled with; new 52-week lows, clinical trials put on hold by the FDA, and numerous firms launching investigations into the company. Things seem to be getting worse – or are they?
What’s the Story, Solid Biosciences?
Yesterday, Scott+Scott Attorneys at Law LLP announced that it will be investigating Solid Biosciences. Its investigation is looking into whether certain members of the team violated federal securities laws. After that news broke, the Solid Bioscience stock hit a new 52-week low. This isn’t the first investigation into the company that has been launched. In fact, on March 15, Bronstein, Gewirtz & Grossman LLC, as well as Pomerantz Law Firm, launched their own investigations into the Massachusetts-based company.
These investigations have all arrived around the same time that the FDA put one of the companies clinical trials on hold. On March 14, it disclosed that the FDA had put its clinical trial for the SGT-001 microdystrophin gene transfer in Duchenne muscular dystrophy (DMD) on hold.
For those who don’t know, Solid Biosciences is a biotechnology company that was founded in 2013. It is known primarily for its involvement in developing generic as well as specialty drugs. According to the press release posted on Thursday, attorneys at Scott+Scott are asking any company shareholders to contact them for more information.
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Despite the seriousness of these investigations, Solid Biosciences is actually trading up today. As of this writing, Solid Biosciences is trading at $8.90 on the Nasdaq Exchange. This puts the stock up $0.64, or 7.81%.
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