Solid Biosciences Inc. reported a net loss of $174.3 million for the year ended December 31, 2025, compared to a net loss of $124.7 million for the previous year. The company's operating expenses totaled $179.2 million in 2025, a significant increase from $129.7 million in 2024. This rise in expenses is primarily attributed to increased research and development costs, particularly for SGT-003, and higher general and administrative expenses. As of December 31, 2025, Solid Biosciences held cash, cash equivalents, and available-for-sale securities amounting to $187.9 million.
Research and development expenses for SGT-003 saw a substantial increase, reaching $59.0 million in 2025 compared to $15.2 million in 2024, driven by manufacturing and clinical trial costs. Conversely, expenses for SGT-501 decreased from $17.2 million in 2024 to $9.6 million in 2025, due to lower manufacturing and study costs. General and administrative expenses also rose to $38.9 million in 2025 from $33.3 million in 2024, primarily due to increased personnel-related costs. The company's total research and development expenses were $140.3 million in 2025, up from $96.4 million in the prior year.
Operationally, Solid Biosciences is focused on advancing its gene therapy candidates, with SGT-003, SGT-212, and SGT-501 in clinical development. Participant dosing in the Phase 1/2 INSPIRE DUCHENNE trial of SGT-003 began in the second quarter of 2024, and enrollment is ongoing across multiple sites in the United States, Canada, Italy, and the United Kingdom. The company has aligned with the FDA on SGT-003's potency assay strategy and anticipates completing process performance qualification manufacturing batches in 2026. Furthermore, participant screening is underway for the Phase 3 IMPACT DUCHENNE trial, with dosing of the first participant anticipated in April 2026.
Looking ahead, Solid Biosciences anticipates additional meetings with the FDA in the first half of 2026 to discuss a potential accelerated approval pathway for SGT-003. The company expects to provide regulatory and clinical updates in mid-2026. With the net proceeds from the March 2026 Private Placement, Solid Biosciences believes it has sufficient funding to support its operating expenses and capital requirements into the first half of 2028.
About Solid Biosciences Inc.
Solid Biosciences Inc. is a life sciences company developing gene therapies for rare neuromuscular and cardiac diseases. Its core focus includes Duchenne muscular dystrophy, Friedreich's ataxia, and inherited cardiac conditions, utilizing AAV-based gene transfer technology. The company advances innovative platform technologies, proprietary capsids, and strategic collaborations to deliver transformative treatments aimed at addressing unmet medical needs in underserved patient populations.
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