Synlogic reports Q2 net income $2M on restructuring gain; exploring strategic options

SYNLOGIC, INC.

2024-Q2 EPS reported -$2.43 vs consensus -$0.52 ▼ miss (-367.1%)

Cash and equivalents $20.0M as of June 30, 2024.
Net income $2.0M ($0.16/share) vs net loss $15.0M ($3.21/share) in Q2 2023; revenue zero.
R&D expenses fell to $2.2M from $11.8M YoY; restructuring gain of $3.8M from lease termination.
Retained Lucid Capital Markets to evaluate strategic alternatives including acquisition or merger.
In Feb 2024, discontinued pivotal PKU study (Synpheny-3) and reduced workforce.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.