Solid Biosciences
SLDB on Nasdaq. Biological products, (no diagnostic substances). Market value $757m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-25.31 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$6.92 a share, 83% above its 1-year low
Over the past year the price has ranged from $3.79 to $11.45.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $14m | $8m | n/a | n/a | n/a |
| Operating margin | |||||
| Operating margin | -530.5% | -1315.2% | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.02bn | 0.04bn | 0.08bn | 0.11bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 1323% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $55 million, compared with a loss of $39 million a year ago.
- Over the past 12 months it spent $188 million more cash than it brought in, compared with $123 million a year earlier.
- 53% more shares than a year ago. Each share owns a bit less of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | -$33m |
| December 2024 | -$43m |
| March 2025 | -$39m |
| June 2025 | -$39m |
| September 2025 | -$46m |
| December 2025 | -$50m |
| March 2026 | -$57m |
| June 2026 | -$55m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
None of the long-term investors we follow own it. 156 funds in all.
Largest holders overall
- RA Capital Management, L.P.$120mAdded
- Perceptive Advisors$119m
- Bain Capital Life Sciences Investors$98m
- Siren, L.L.C.$77m
- BlackRock$69mAdded
- FMR$69mAdded
- Armistice Capital$43mAdded
- State Street$42mAdded
- Jupiter Topco$40m
- Vanguard Capital Management$40mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
8 investors own more than 5%.
- RA Capital Management, L.P.Passive investorat least 11.9%+2.0 pts(filed with 3 related holders)Since 22 June 2026
- at least 11.2%−1.7 pts(filed with 3 related holders)Since 30 June 2026
- Raymond DebbanePassive investorat least 10.0%+0.4 pts(filed with 7 related holders)Since 31 March 2026
- BCLS II Investco, LPPassive investorat least 8.8%+1.0 pts(filed with 5 related holders)Since 6 March 2026
- FMR LLCPassive investorat least 7.0%(filed with 1 related holder)Since 30 June 2026
- BlackRock, Inc.Passive investor6.5%+1.8 ptsSince 30 June 2026
- Vestal Point Capital, LPPassive investorat least 4.8%−2.7 pts(filed with 1 related holder)Since 30 June 2026
- Adage Capital Management, L.P.Passive investorat least 1.8%−3.3 pts(filed with 2 related holders)Since 31 December 2025
- Commodore Capital LPPassive investorSold down below 5%Since 30 June 2025
- Camber Capital Management LPPassive investorSold down below 5%Since 31 December 2024
| Holder | Stake | Since | |
|---|---|---|---|
RA Capital Management, L.P. Passive investor | at least 11.9%+2.0 pts (filed with 3 related holders) | 22 June 2026 | |
at least 11.2%−1.7 pts (filed with 3 related holders) | 30 June 2026 | ||
Raymond Debbane Passive investor | at least 10.0%+0.4 pts (filed with 7 related holders) | 31 March 2026 | |
BCLS II Investco, LP Passive investor | at least 8.8%+1.0 pts (filed with 5 related holders) | 6 March 2026 | |
FMR LLC Passive investor | at least 7.0% (filed with 1 related holder) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 6.5%+1.8 pts | 30 June 2026 | |
Vestal Point Capital, LP Passive investor | at least 4.8%−2.7 pts (filed with 1 related holder) | 30 June 2026 | |
Adage Capital Management, L.P. Passive investor | at least 1.8%−3.3 pts (filed with 2 related holders) | 31 December 2025 | |
Commodore Capital LP Passive investor | Sold down below 5% | 30 June 2025 | |
Camber Capital Management LP Passive investor | Sold down below 5% | 31 December 2024 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $3m, $3m of it under preset trading plans.
- Cumbo AlexanderPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 16,644
- Price
- $5.82
- Value
- $96,868
- Hanrahan JessieChief Regulatory OfficerSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 4,134
- Price
- $5.82
- Value
- $24,060
- Ganot IlanDirectorSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 2,658
- Price
- $5.82
- Value
- $15,470
- Herzich PaulChief Technology OfficerSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 3,616
- Price
- $5.82
- Value
- $21,045
- Howton David TChief Operating OfficerSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 7,469
- Price
- $5.82
- Value
- $43,470
- Brooks GabrielChief Medical OfficerSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 0
- Price
- $5.82
- Value
- $0
- Tan KevinCFO & TreasurerSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 5,404
- Price
- $5.82
- Value
- $31,451
- Howton David TChief Operating OfficerSoldunder a preset trading plan
- Date
- 4 February 2026
- Shares
- 18,894
- Price
- $6.44
- Value
- $121,677
- Cumbo AlexanderPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 4 February 2026
- Shares
- 48,913
- Price
- $6.44
- Value
- $315,000
- Ganot IlanDirectorSoldunder a preset trading plan
- Date
- 4 February 2026
- Shares
- 7,205
- Price
- $6.44
- Value
- $46,400
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 18 February 2026 | Cumbo Alexander President and CEO, Director | Sold under a preset trading plan | 16,644 | $5.82 | $96,868 |
| 18 February 2026 | Hanrahan Jessie Chief Regulatory Officer | Sold under a preset trading plan | 4,134 | $5.82 | $24,060 |
| 18 February 2026 | Ganot Ilan Director | Sold under a preset trading plan | 2,658 | $5.82 | $15,470 |
| 18 February 2026 | Herzich Paul Chief Technology Officer | Sold under a preset trading plan | 3,616 | $5.82 | $21,045 |
| 18 February 2026 | Howton David T Chief Operating Officer | Sold under a preset trading plan | 7,469 | $5.82 | $43,470 |
| 18 February 2026 | Brooks Gabriel Chief Medical Officer | Sold under a preset trading plan | 0 | $5.82 | $0 |
| 18 February 2026 | Tan Kevin CFO & Treasurer | Sold under a preset trading plan | 5,404 | $5.82 | $31,451 |
| 4 February 2026 | Howton David T Chief Operating Officer | Sold under a preset trading plan | 18,894 | $6.44 | $121,677 |
| 4 February 2026 | Cumbo Alexander President and CEO, Director | Sold under a preset trading plan | 48,913 | $6.44 | $315,000 |
| 4 February 2026 | Ganot Ilan Director | Sold under a preset trading plan | 7,205 | $6.44 | $46,400 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.