Synlogic Shares Tumble 55% on Discontinued Trial, Halt to Operations [MarketWatch]
Synlogic, Inc. (SYBX)
Last synlogic, inc. earnings: 3/12 04:19 pm
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US:NASDAQ Investor Relations:
investor.synlogictx.com/news-and-events/news-releases
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Source: MarketWatch
The stock was down 55% to $1.56 in Thursday's after-hours trading. Shares are down about 23% since the start of the year. Advertisement The biopharmaceutical company said it would cut all staff not necessary for its review of strategic options. More than 90% of employees will be affected, with most roles ended this month. Synlogic's study of labafenogene marselecobac, a biologic, as a potential treatment for genetic disorder phenylketonuria was discontinued, the company said. An internal review found the trial was unlikely to meet its primary endpoint, according to the company. The decision wasn't related to issues with safety or tolerability. Synlogic also announced that Chief Executive Aoife Brennan would step down as part of the workforce reduction. The company had cash, cash equivalents and short-term investments of $47.7 million as of Dec. 31. Write to Ben Glickman at ben.glickman@wsj.com
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SYBX
News
- Synlogic, Inc. (NASDAQ: SYBX) was upgraded by analysts at HC Wainwright from a "sell" rating to a "neutral" rating.MarketBeat
- Synlogic Reports Fourth Quarter and Full Year 2023 Financial Results [Yahoo! Finance]Yahoo! Finance
- Synlogic Reports Fourth Quarter and Full Year 2023 Financial ResultsGlobeNewswire
- Synlogic Adopts Limited Duration Stockholders Rights Plan [Yahoo! Finance]Yahoo! Finance
- Synlogic Adopts Limited Duration Stockholders Rights PlanGlobeNewswire
SYBX
Earnings
- 11/9/23 - Miss
SYBX
Sec Filings
- 4/22/24 - Form 144
- 4/18/24 - Form SC
- 4/4/24 - Form 4
- SYBX's page on the SEC website