Synlogic, Inc. - SYBX STOCK NEWS

On October 15, 2021, Synlogic, Inc. (Nasdaq: SYBX) announced two poster presentations for the American Society for Nephrology (ASN) Kidney Week 2021, taking place November 4-7, 2021. The posters include a large-scale study showing an increased risk of chronic kidney disease associated with higher urinary oxalate levels (odds ratio: 1.67) and a proof-of-concept study of SYNB8802, demonstrating a 28.6% reduction in urinary oxalate compared to placebo. The latter study's results are anticipated in 2022. Synlogic continues to advance its Synthetic Biotic medicines targeting metabolic disorders.

Synlogic (Nasdaq: SYBX) announced the publication of preclinical research in Nature. The study demonstrated that a live biotherapeutic product can modulate the tumor microenvironment, enhancing susceptibility to immunotherapy in murine models. Engineered Escherichia coli Nissle 1917 strain showed increased T cell infiltration and synergistic activity with anti-PD-L1 immunotherapy. The Chief Scientific Officer emphasized the potential of their Synthetic Biotic platform in developing transformative therapeutics for serious diseases.

Synlogic, Inc. (Nasdaq: SYBX) announced the appointment of Molly Harper as Chief Business Officer, effective immediately. Harper will lead commercial strategies for Synlogic's pipeline, particularly focusing on its promising PKU program, where interim analysis data has shown encouraging results. With extensive experience in biotech, including roles at Relmada Therapeutics and Akcea Therapeutics, Harper's expertise is expected to enhance Synlogic's leadership and strengthen its market position.

On September 22, 2021, Synlogic (Nasdaq: SYBX) announced the pricing of a public offering of 15 million shares of common stock at $3.00 per share, aiming to raise $45 million in gross proceeds. The offering is set to close on or about September 27, 2021, pending customary closing conditions. Jefferies and SVB Leerink are acting as joint book-running managers, with Chardan and H.C. Wainwright & Co. involved as additional managers. The shares are being offered under a shelf registration statement filed with the SEC.

Synlogic (Nasdaq: SYBX), a clinical-stage company focused on synthetic biology, announced a proposed underwritten public offering of its common stock on Sept. 22, 2021. The offering includes a potential 30-day option for underwriters to purchase an additional 15% of shares. The offering is subject to market conditions, and its final size and terms remain uncertain. Jefferies and SVB Leerink are serving as joint book-running managers for the offering, which is conducted under a previously filed shelf registration statement with the SEC.

Synlogic (Nasdaq: SYBX) announced positive interim results from the Phase 2 SynPheny-1 study for its investigational Synthetic Biotic medicines for phenylketonuria (PKU). SYNB1618 showed a 20% reduction in fasting plasma phenylalanine (Phe) after 14 days, and SYNB1934 demonstrated two-fold higher activity than SYNB1618. The company plans to incorporate SYNB1934 into the trial and initiate a pivotal Phase 3 study based on these results, with final SynPheny-1 results expected in early 2022. Safety data indicated no serious adverse events, reinforcing the candidates' therapeutic potential.

Synlogic, Inc. (Nasdaq: SYBX) announced presentations on SYNB8802, a Synthetic Biotic for treating Enteric Hyperoxaluria, at the AUA Annual Meeting (Sept 10-13, 2021). Key findings from the Phase 1A study revealed SYNB8802 was well-tolerated, with no serious adverse events. Notably, a 28.6% reduction in urinary oxalate levels was observed in participants receiving 3e11 live cells thrice daily, compared to placebo. This treatment addresses an unmet medical need, as there are no approved therapies for the 250,000 patients affected in the U.S. by this condition.

On September 10, 2021, Synlogic (Nasdaq: SYBX) presented at the Global PKU Patient Meeting, discussing Synthetic Biotic medicines for Phenylketonuria (PKU). Key insights include that two-thirds of adult PKU patients and one-third of pediatric patients struggle to maintain target Phe levels on a low phenylalanine diet. Over 90% of patients expressed a desire to increase natural protein intake. The investigational drug SYNB1618, a Synthetic Biotic, aims to lower plasma Phe levels and is currently in Phase 2 trials. Future survey results will be shared at upcoming medical meetings.

Synlogic, Inc. (Nasdaq: SYBX) reported its second-quarter financial results for the period ending June 30, 2021. The company posted a net loss of $14.5 million or $0.28 per share, an improvement from a net loss of $15.5 million or $0.44 per share in Q2 2020. Revenue declined to $0.2 million from $0.4 million year-over-year. Synlogic is advancing its Synthetic Biotic™ medicines across various clinical trials, aiming for proof of concept data in the latter half of 2021. As of June 30, 2021, cash and equivalents stood at $115.5 million.