Synlogic Q3 net loss narrows to $12.1M; cash runway extended into H1 2025

SYNLOGIC, INC.

2023-Q3 EPS reported -$9.17 revenue$602,000

Net loss of $12.1M ($2.57 per share) vs $17.9M ($3.73) in Q3 2022; revenue $0.4M from Roche collaboration.
Closed $21M underwritten public offering and earned $2.5M Roche milestone, extending cash runway into H1 2025.
Synpheny-3 pivotal trial in PKU on track: enrollment completion H2 2024, top-line data H1 2025.
FDA granted Fast Track Designation for labafenogene marselecobac (SYNB1934) for PKU.
Cash and investments $33.4M as of Sept 30, plus $19.6M net from October financing and $2.5M milestone.

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 0.95

SYNLOGIC, INC. reported the quarter ended September 30, 2023 results: revenue $0.4 million, net income $12.1 million, or $2.57 per share, EPS $2.57 per share.

Period: the quarter ended September 30, 2023
Revenue: $0.4 million
Net income: $12.1 million, or $2.57 per share
EPS: $2.57 per share
Result: reported results

Exact text from the filing

$19.6 million (net), and an additional $2.5 million earned from the Roche research collaboration announced in November. Revenue for the three months ended September 30, 2023 was $0.4 million compared to $0.7 million for the corresponding period in 2022. Revenue in both periods was primarily associated with the ongoing research collaboration with Roche for the

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Source: SEC EDGAR

accession 0000950170-23-061496

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