Ilan Ganot, the co-founder and chief executive of biotech firm Solid Biosciences, left a career in investment banking to start the company in 2013 in order to search for treatments, and perhaps cures, for Duchenne muscular dystrophy, a disease that afflicts his son.
It would be nice if, five years later, Ganot could report back stunning results that would have investors rushing to buy Solid’s stock. But biology is not fair. Instead, Solid is announcing results from the first six patients to take Solid’s experimental gene therapy for Duchenne, SGT-001, that fall below the expectations of Wall Street analysts and are likely to seriously disappoint holders of his stock.
“Look, as background, we are a company that was formed to discover, develop, and deliver meaningful therapies for patients with DMD,” Ganot said. “We believe SGT-001 has the potential to be a meaningful therapy for patients with DMD, and obviously are committed to move forward as fast as we can.”
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You left off the fact they’re not the most trustworthy company. The initial issues with the clinical hold around the IPO and now this. Don’t see how investors can trust them with the cash.