Solid Biosciences Inc
SLDBHealthcare|Biotechnology|USA
$10.40
-0.71 (-6.38%)
Tangible Book
$3.80
Earnings Power
$3.33
Financials
Financial Snapshot
Market Cap
$1.02B
Enterprise Value
$360.0M
Revenue (TTM)
$0.00
Net Income (TTM)
$-191.8M
Cash & Equivalents
—
Net Cash/Share
$3.37
Free Cash Flow (TTM)
$-172.9M
Operating CF (TTM)
$-171.7M
Debt/Equity
0.06
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$42.9M
Monthly Burn
$14.3M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $37.7M | $69.1M | $122.5M | $83.5M | $154.7M | $207.8M | $213.7M | $123.6M | $148.9M | $187.8M | $380.7M | |
| Operating Cash Flow | $-20.1M | $-43.2M | $-70.2M | $-92.7M | $-56.6M | $-77.8M | $-98.0M | $-94.2M | $-100.0M | $-156.3M | $-171.7M | |
| Free Cash Flow | $-20.5M | $-45.5M | $-78.0M | $-97.1M | $-57.5M | $-79.0M | $-101.0M | $-95.7M | $-100.7M | $-157.4M | $-172.9M | |
| Capital Expenditure | $-392.0K | $-2.3M | $-7.8M | $-4.4M | $-899.0K | $-1.3M | $-3.0M | $-1.5M | $-654.0K | $-1.2M | $-1.2M | |
| Financing Cash Flow | $3.4M | $77.1M | $131.5M | $57.9M | $128.7M | $135.0M | $74.8M | $3.1M | $122.4M | $194.4M | $243.7M |
R&D Spending
R&D (TTM)
$155.6M
R&D Intensity
—
R&D Growth YoY
+10.9%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $13.6M | $8.1M | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $20.1M | $39.9M | $58.0M | $94.7M | $64.9M | $58.7M | $78.4M | $76.6M | $96.4M | $140.3M | $155.6M | |
| R&D % of Revenue | — | — | — | — | — | 431.3% | 968.9% | — | — | — | — | |
| SG&A | $5.5M | $15.0M | $17.7M | $24.6M | $21.6M | $27.1M | $28.9M | $27.8M | $33.3M | $38.9M | $40.9M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $13.6M | $8.1M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $13.6M | $8.1M | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $20.1M | $39.9M | $58.0M | $94.7M | $64.9M | $58.7M | $78.4M | $76.6M | $96.4M | $140.3M | $155.6M | |
| SG&A | $5.5M | $15.0M | $17.7M | $24.6M | $21.6M | $27.1M | $28.9M | $27.8M | $33.3M | $38.9M | $40.9M | |
| Operating Income | $-25.6M | $-54.9M | $-75.7M | $-119.3M | $-86.5M | $-72.3M | $-99.3M | $-104.3M | $-129.7M | $-179.2M | $-196.5M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-440.0K | $-340.0K | $0.00 | $-60.0K | |
| Pretax Income | $-23.8M | $-53.2M | $-74.8M | $-117.2M | $-88.3M | $-72.2M | $-86.0M | $-96.0M | $-124.7M | $-174.3M | $-191.8M | |
| Net Income | $-21.5M | $-52.1M | $-74.8M | $-117.2M | $-88.3M | $-72.2M | $-86.0M | $-96.0M | $-124.7M | $-174.3M | $-191.8M | |
| EPS (Diluted) | -13.44 | -18.30 | -33.75 | -43.65 | -25.50 | -10.14 | -10.10 | -4.83 | -3.06 | -1.99 | -1.95 | |
| EBITDA | $-25.5M | $-54.4M | $-74.1M | $-116.5M | $-82.5M | $-69.3M | $-96.9M | $-93.0M | $-121.9M | $-177.6M | $-192.0M | |
| Shares Out. (M) | 1.28 | 2.15 | 2.22 | 2.69 | 3.46 | 7.12 | 8.51 | 19.88 | 40.82 | 87.50 | 109.81 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.7M | $52.1M | $86.4M | $76.0M | $154.7M | $119.1M | $155.4M | $74.0M | $80.2M | $59.9M | $297.1M | |
| Marketable Securities | $30.0M | $17.0M | $36.1M | $7.5M | $0.00 | $88.6M | $58.3M | $49.6M | $68.7M | $128.0M | $83.6M | |
| Total Current Assets | $40.0M | $70.7M | $128.6M | $86.3M | $158.9M | $222.6M | $219.6M | $129.7M | $157.3M | $205.5M | $396.8M | |
| Total Assets | $40.6M | $76.2M | $139.6M | $103.5M | $171.2M | $232.4M | $260.3M | $164.9M | $188.7M | $232.5M | $422.9M | |
| Total Current Liabilities | $6.9M | $11.3M | $12.5M | $18.3M | $24.5M | $23.6M | $22.5M | $14.5M | $30.3M | $33.5M | $30.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $78.5M | $135.4M | $14.4M | $23.4M | $39.1M | $24.2M | $48.6M | $38.5M | $51.4M | $52.5M | $48.8M | |
| Stockholders' Equity | $-84.4M | $-59.3M | $125.2M | $80.0M | $132.1M | $208.2M | $211.7M | $126.5M | $137.2M | $180.0M | $374.1M | |
| Retained Earnings | $-84.9M | $-124.3M | $-199.1M | $-316.3M | $-404.6M | $-476.8M | $-562.7M | $-658.8M | $-783.5M | $-957.8M | $-1.01B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-20.1M | $-43.2M | $-70.2M | $-92.7M | $-56.6M | $-77.8M | $-98.0M | $-94.2M | $-100.0M | $-156.3M | $-171.7M | |
| Capital Expenditure | $-392.0K | $-2.3M | $-7.8M | $-4.4M | $-899.0K | $-1.3M | $-3.0M | $-1.5M | $-654.0K | $-1.2M | $-1.2M | |
| Free Cash Flow | $-20.5M | $-45.5M | $-78.0M | $-97.1M | $-57.5M | $-79.0M | $-101.0M | $-95.7M | $-100.7M | $-157.4M | $-172.9M | |
| Investing Cash Flow | $-4.1M | $10.4M | $-26.8M | $24.5M | $6.6M | $-91.1M | $59.2M | $9.7M | $-16.1M | $-58.5M | $13.8M | |
| Financing Cash Flow | $3.4M | $77.1M | $131.5M | $57.9M | $128.7M | $135.0M | $74.8M | $3.1M | $122.4M | $194.4M | $243.7M | |
| Issuance of Stock | $0.00 | $0.00 | $133.7M | $49.3M | $132.5M | $134.9M | $72.6M | $3.0M | $127.2M | $196.4M | $258.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-5.1M | $-1.7M | $-14.6M | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.1M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $-13.0K | $0.00 | $0.00 | $0.00 | $-66.0K | $0.00 | $-473.0K | $-723.0K | $-588.0K | |
| Stock Based Comp. | $1.5M | $5.3M | $6.0M | $14.2M | $11.6M | $13.4M | $7.5M | $7.6M | $10.5M | $16.9M | $18.7M | |
| Net Change in Cash | $-20.8M | $44.3M | $34.5M | $-10.3M | $78.7M | $-33.9M | $36.0M | $-81.4M | $6.3M | $-20.3M | $85.8M |
Dilution Tracker
Shares outstanding grew 1442.7% over 5 years — significant dilution
Shares Outstanding
110M
5-Year Share Growth
+1442.7%
Stock Issuance (TTM)
$258.4M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 1.28 | 2.15 | 2.22 | 2.69 | 3.46 | 7.12 | 8.51 | 19.88 | 40.82 | 87.50 | 109.81 | |
| YoY Change % | — | 67.6% | 3.2% | 21.1% | 28.9% | 105.6% | 19.6% | 133.6% | 105.3% | 114.4% | 25.5% | |
| Stock Issuance | $0.00 | $0.00 | $133.7M | $49.3M | $132.5M | $134.9M | $72.6M | $3.0M | $127.2M | $196.4M | $258.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-5.1M | $-1.7M | $-14.6M | |
| Stock Based Comp. | $1.5M | $5.3M | $6.0M | $14.2M | $11.6M | $13.4M | $7.5M | $7.6M | $10.5M | $16.9M | $18.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -530.5% | -1226.5% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -530.0% | -1062.3% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -508.7% | -1196.8% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -580.4% | -1247.7% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | -226.9% | -114.2% | -83.2% | -42.4% | -41.0% | -56.8% | -94.6% | -109.9% | -72.4% | |
| ROA % | -44.7% | -89.2% | -69.3% | -96.5% | -64.3% | -35.8% | -34.9% | -45.2% | -70.5% | -82.8% | -60.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical2.30 / 7.14 / 145.71
Industry Med.9.49
P/B2.74
Historical0.20 / 0.62 / 2.74
Industry Med.2.93
EV/EBITDA-3.46
Historical-3.46 / 0.50 / 1.74
Industry Med.13.02
EV/Revenue—
Historical-19.58 / -5.89 / 66.49
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$3.80
Net Current Assets
$3.540
Net-Net Working Capital
$3.37
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | 13.72 | 5.66 | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 7.59 | 2.56 | 4.87 | 0.93 | 0.50 | 0.99 | 1.18 | 2.47 | 2.74 | |
| EV/EBITDA | 0.00 | 0.00 | -11.17 | -1.10 | -5.98 | 0.18 | 0.83 | -0.30 | -0.30 | -1.57 | -3.46 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.93 | -9.88 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $13.30M | $142.17M |
| Net Income | $-231.54M | $-254.13M | $-166.96M |
| EPS | -1.96 | -1.96 | -1.35 |
| Book Value per Share | 1.50 | 0.82 | 0.00 |
| Operating Cash Flow per Share | -1.52 | -1.44 | 0.00 |
| Operating CF | $-166.91M | $-158.13M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2022 |
|---|---|
| Developing treatments through gene therapy and other means for patients with neuromuscular and | $8.1M |
By Geography
| Segment | 2022 |
|---|---|
| United States | $8.1M |