March 23, 2021 6:02pm
$143.8 million in gross proceeds
Jefferies, SVB Leerink and Piper Sandler acted as joint book-running managers for the offering. Chardan acted as lead manager for the offering.
SLDB had commenced and completed its underwritten public offering which some questioned - I being one.
Not changing my review ...
The Bottom Line: Stats …
A 52-week change of +165.70%,
A short percentage of float of 4.35% <2.75 M shares as of 2/26/21>
Recent interim results looked pretty good as SLDB reported improvement for patients -- as measured by the North Star Ambulatory Assessment rating scale for the disease -- among all dose cohorts.
- Patients receiving SGT-001 also demonstrated improvement in the six-minute walk test, while the untreated control cohort showed a decline. In addition, patients in all dose cohorts receiving SGT-001 exhibited improvement in pulmonary function tests, while patients in the untreated control cohort had a mean decline of 10.7%.
- SLDB also announced good news on the safety front. The six patients previously dosed with SGT-001 didn't have any new drug-related safety issues between 17 and 37 months after dosing. And the seventh patient in the study became the first to be dosed with a second-generation manufacturing process. This patient experienced only temporary and manageable adverse effects that weren't serious. <The Motley Fool>
- SLDB will continue to dose patients in its P1/2 study of SGT-001 and plans to report 90-day biopsy data from these additional patients in the second-half of 2021.
Investors in SLDB need to pay close attention to the stock based on moves in the options market lately. That is because the Apr 16, 2021 $7.50 Call had some of the highest implied volatility of all equity options today.
This is a strategy many seasoned traders use because it captures decay.
In December 2020, SLDB had $155 million in cash, and was debt-free. Importantly, its cash burn was $57 million over the trailing twelve months. That means it had a cash runway of about 2.7 years as of December 2020.
However, there are divergences in IGNITE DMD study data along with seemingly lower improvements in NSAA scores compared to competing companies, presumably, led to a 10.6% decline in shares of SLDB in pre-market trading on Mar 16. However, the company’s shares have gained 25.5% so far this year compared with the industry’s growth of 3.4%.
Me, NOT a believer …