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On the eve of what was to be a $130 million payday, one of biotech’s buzziest startups on Thursday issued an 11th-hour disclosure that the Food and Drug Administration has safety concerns about its lead drug.

Solid Biosciences, a biotech darling with an oft-cited origin story, said that the FDA put a hold on its clinical trial for its gene therapy for muscular dystrophy, asking the company to make manufacturing adjustments and other changes before dosing more patients. Solid was expected to go public this week with a hotly anticipated initial public offering, one investors expected to be a bellwether for the whole biotech sector.

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