Synlogic Q3 net loss $17.9M; cash $91.7M; positive Phase 2 PKU data supports Phase 3 start in H1 2023

SYNLOGIC, INC.

2022-Q3 EPS reported -$0.69 revenue$1,074,000

Cash, cash equivalents and short-term investments of $91.7M as of Sept 30, 2022; runway into 2024.
Q3 revenue $0.7M (vs $0.9M Q3 2021) from Roche IBD collaboration; net loss $17.9M ($0.25/sh) vs $16.0M ($0.29/sh) prior year.
R&D expense $14.6M, G&A $4.4M, both up from prior year period.
Positive Phase 2 'Synpheny-1' top-line data for SYNB1934/SYNB1618 in PKU; Phase 3 registrational study planned H1 2023.
Earned research milestone from Roche collaboration for IBD Synthetic Biotic candidate.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SYNLOGIC, INC. reported third quarter ended September 30, 2022 results: revenue $0.7 million, net income $17.9 million, EPS $0.25 per share.

Period: third quarter ended September 30, 2022
Revenue: $0.7 million
Net income: $17.9 million
EPS: $0.25 per share
Result: reported results

Exact text from the filing

Revenue for the three months ended September 30, 2022 was $0.7 million compared to $0.9 million for the corresponding period in 2021. Revenue in both periods was associated with the ongoing research collaboration with Roche for the discovery of a novel Synthetic Biotic for the treatment of IBD. For the three months ended September 30, 2022, Synlogic reported a consolidated net loss of $17.9 million, or $0.25 per share, compared to a consolidated net loss of $16.0 million, or $0.29 per share, for the corresponding period in 2021.

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Source: SEC EDGAR

accession 0000950170-22-024119

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