Solid cuts one-third of staff, goes all in on delayed gene therapy
Solid Biosciences is laying off about 37 of its 111 employees, including Chief Operating Officer Alvaro Amorrortu and Chief Medical Officer Jorge Quiroz. The company is currently trying to persuade the FDA to allow them to resume clinical trials for its Duchenne muscular dystrophy gene therapy.
The layoffs will help Solid extend its financing into 2021 but will slow development of their other therapies. Shares in the firm fell after the announcement, and the company has lost 88% of its valuation in the past year.
