Jessie Hanrahan
Solid BiosciencesAbout Jessie Hanrahan
Jessie Hanrahan, Ph.D. (age 49), has served as Solid Biosciences’ Chief Regulatory Officer since December 2022, after leading regulatory functions at AavantiBio, bluebird bio, Sanofi Genzyme, and Boston Scientific. She holds a Ph.D., M.S., and M.Ph. in Molecular, Cellular and Developmental Biology from Yale University and a B.A. in Biology and History from Mount Holyoke College . Company performance context during her tenure: cumulative TSR declined from $23.39 per $100 (2023) to $15.24 (2024), while EBITDA losses widened through FY 2024 (see table below) . EBITDA values retrieved from S&P Global*.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Solid Biosciences | Chief Regulatory Officer | Dec 2022–present | Leads global regulatory strategy and preclinical operations for gene therapy programs . |
| AavantiBio | Chief Regulatory Officer | May 2021–Dec 2022 | Built regulatory framework for gene therapy portfolio prior to acquisition by Solid . |
| bluebird bio | VP Regulatory Science; Senior Director Regulatory Science | Feb 2020–May 2021; Aug 2016–Feb 2020 | Advanced regulatory strategy for genetic medicines . |
| Sanofi Genzyme | Sr. Manager Regulatory Affairs; Principal Medical Writer | Oct 2009–Jul 2016; Jul 2007–Oct 2009 | Led/produced submissions and documentation across therapeutic areas . |
| Boston Scientific | Medical Writer | May 2006–Jul 2007 | Supported clinical/regulatory documentation . |
External Roles
No public company board roles disclosed for Jessie Hanrahan in the proxy .
Fixed Compensation
- The company states each executive officer has an employment agreement that sets base salary and eligibility for annual performance-based bonuses, but specific salary/bonus figures for Hanrahan are not itemized in the DEF 14A (named executives are CEO, CMO, COO) .
- Executives participate in standard benefits and are eligible for equity awards at the Board’s discretion; employment is at will .
Performance Compensation
Executive PSUs program (June 2024) – applicable to the executive team:
| Metric | Weighting | Targets | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|
| Non-market, non-financial business objectives (4 milestones predetermined by Board) | 25% per milestone (total 100%) | Milestone achievement by Evaluation Dates | Board determines vesting at Evaluation Dates; any unmet milestone cancels at 2027 Evaluation Date | Up to 25% at 2026 Evaluation Date (Q1 2026); remaining potential vesting at 2027 Evaluation Date (Q1 2027) |
Notes: Company recognized PSU-related equity comp in 2025; unrecognized PSU expense remains with ~1.1-year weighted period .
Equity Ownership & Alignment
| Award Type | Grant Date | Shares/Units | Vesting Schedule | Notes |
|---|---|---|---|---|
| Inducement Stock Option | 12/2/2022 | 94,899 | 25% at 1-year; 2.0833% monthly thereafter to 4 years | Granted under Nasdaq Rule 5635(c)(4) . |
| Inducement RSUs | 12/2/2022 | 47,449 | 25% annually over 4 years | Granted under Nasdaq Rule 5635(c)(4) . |
Additional alignment and trading controls:
- Insider Trading Policy prohibits short sales, derivatives, hedging, and margin purchases; pledging is prohibited except in extraordinary cases with preapproval (and for directors/officers, audit committee preapproval) .
- Executives may use Rule 10b5-1 trading plans; changes allowed only when not in possession of MNPI .
Recent insider filings:
- Form 4 filed 02/11/2025 indicating Chief Regulatory Officer status and 01/31/2025 transaction date (includes POA; Rule 10b5-1 checkbox appears) .
- Additional 2024–2025 filings listed on EDGAR for Hanrahan CIK 0001954826 .
Employment Terms
- Start date/tenure: Chief Regulatory Officer since December 2022 .
- Employment agreements: Company has employment agreements with each executive officer, covering base salary, bonus eligibility, benefits, and equity awards; employment is at will .
- Restrictive covenants (as disclosed for certain named executives): one-year non-compete and non-solicit, perpetual confidentiality; company ownership of inventions; these specifics were summarized for CEO/CMO/COO (Jessie’s agreement is not separately summarized) .
- Severance/change-of-control economics (disclosed for named executives): salary continuation, COBRA, target bonus payouts, and time-based equity acceleration upon double-trigger CoC; named executive details vary (Cumbo 18-month salary/150% bonus; Brooks/Howton 12-month salary/100% bonus; Jessie-specific severance terms not itemized) .
Company Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($ USD) | $8.09M | — | — |
| EBITDA ($ USD) | -$91.996M* | -$101.734M* | -$127.273M* |
| TSR ($ value of initial $100) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Company TSR | $20.50 | $23.39 | $15.24 |
*Values retrieved from S&P Global.
Regulatory execution highlights under Hanrahan’s oversight:
- SGT-003 received UK ILAP Innovation Passport; Hanrahan statement emphasizes accelerated regulatory interactions and patient access .
- SGT-501 received FDA Fast Track (post-IND and Health Canada CTA); Hanrahan commentary underscores validation and regulatory momentum .
Investment Implications
- Pay-for-performance alignment: Executive PSUs are tied to non-financial business objectives with binary milestone vesting and capped interim vest at 25% in Q1 2026; alignment to TSR is indirect, increasing emphasis on regulatory/clinical execution rather than market metrics .
- Retention and selling pressure: Time-based options/RSUs from 12/2/2022 continue vesting through 2026; anti-hedging/pledging policy reduces alignment risk; monitor Form 4s around annual RSU vest dates and PSU evaluation dates for potential insider sales .
- Change-of-control economics: Company-wide executive agreements include severance and, for named execs, double-trigger equity acceleration; while Jessie’s specific multiples aren’t itemized, overall practice could reduce departure friction in a transaction .
- Execution track record: Regulatory wins (ILAP for SGT-003; Fast Track for SGT-501) signal management capability in regulatory pathways, a key value driver for gene therapy companies .
- Share supply risk: Company highlights potential market price pressure from future share sales, registered shares under compensation plans, and significant RSU/PSU overhang; this can interact with vesting schedules to create episodic selling pressure .