Solid Biosciences' (SLDB) differentiated approach to Duchenne muscular dystrophy and a "materially different" leadership at the US Food and Drug Administration could support upside, RBC Capital Markets said in a Wednesday note.

The investment firm sees differentiation in the company's gene therapy construct, steroid-only prophylactic regimen, safety profile, consistent expression and biomarkers.

While the company's gene therapy is yet to demonstrate functional outcomes, RBC said it is optimistic that upcoming data readouts will show meaningful separation from natural history.

The company has dosed 53 patients so far, while a randomized, placebo-controlled confirmatory trial is already up and running, according to the note.

The investment firm estimates a more than $1 billion peak opportunity for Solid Biosciences' DMD program and said most US patients remain untreated.

RBC initiated coverage with an outperform rating and a $18 price target.

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