Shares of Solid Biosciences Inc. (SLDB) are currently witnessing a downturn of over 4 percent after the company disclosed a surge in its fourth-quarter losses.
The life sciences firm experienced a rise in its quarterly net loss, from $15.2 million to $20.3 million. This was primarily attributed to higher yields on cash equivalents and available-for-sale securities, which neutralized the gains accrued from acquisition and collaboration revenue in 2022.
At present, Solid Biosciences' stock is experiencing a 4.65 percent decrease, trading at $10.87, down from its previous closing price of $11.40 on the Nasdaq.
The company's share price has fluctuated between $1.81 and $12.20 over the past year.
