Solid Biosciences Inc 2025年度报告

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K For the fiscal year ended December 31, 2025OR նTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934For the transition period from_________ to _________ Solid Biosciences Inc. (Exact name of Registrant as specified in its Charter) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.YESնNOշ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.YESշNOն Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YESշNOն Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filerնNon-accelerated filerշEmerging growth companyն Accelerated filerնSmaller reporting companyշ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.ն Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report.նIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.ն Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation receivedby any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).նIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).YESնNOշAs of June 30, 2025, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’scommon stock held by non-affiliates was $317.7 million, based on the last reported sale price of such stock on the Nasdaq Global Select Market as of suchdate.The number of shares of the registrant’s common stock outstanding as of March 16, 2026 was 98,391,314. DOCUMENTS INCORPORATED BY REFERENCE The registrant intends to file a definitive proxy statement for its 2026 Annual Meeting of Stockholders pursuant to Regulation 14A within 120 days of theend of the fiscal year ended December 31, 2025. Portions of such definitive proxy statement are incorporated by reference into Part III of this Annual Reporton Form 10-K. TABLE OF CONTENTS PagePART I1Item 1.Business1Item 1A.Risk Factors40Item 1B.Unresolved Staff Comments95Item 1C.Cybersecurity95Item 2.Properties95Item 3.Legal Proceedings95Item 4.Mine Safety Disclosures96PART II97Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities97Item 6.Reserved98Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations99Item 7A.Quantitative and Qualitative Disclosures About Market Risk110Item 8.Financial Statements and Supplementary Data110Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure110Item 9A.Controls and Procedures110Item 9B.Other Information111Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections111110PART III112Item 10.Directors, Executive Officers and Corporate Governance112Item 11.Executive Compensation112Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters112Item 13.Certain Relationships and Related Transactions, and Director Independence112Item 14.Principal Accountant Fees and Services112PART IV113Item 15.Exhibits and Financial Statement Schedules113Item 16.Form 10-K Summary117SIGNATURES118CONSOLIDATED FINANCIAL STATEMENTSF-3 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA This Annual Report on Form 10-K includes forward-l