Synlogic raises $21M in public offering, funds PKU Phase 3 and manufacturing

SYNLOGIC, INC.

Gross proceeds of $21M from 7.39M shares and 7.39M warrants at $2.84 per unit.
Proceeds to fund Phase 3 SYNB1934 for PKU, BLA manufacturing, and SYNB1353 for HCU.
Top-line data for PKU Phase 3 Synpheny-3 study expected first half of 2025.
Existing cash plus offering expected to fund operations into first half of 2025.
Participants include New Enterprise Associates and a board member; Chardan underwriter.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SYNLOGIC, INC. entered into Underwriting Agreement with Chardan Capital Markets, LLC (effective 2023-09-28).

Action: entry
Agreement: underwriting
Counterparty: Chardan Capital Markets, LLC
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Synlogic, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Chardan Capital Markets, LLC, as underwriter (the “Underwriter”), pursuant to which the Company agreed to issue and sell 3,921,928 shares of its common stock (the “Shares”), pre-funded warrants to purchase up to 3,472,435 shares of its common stock (the “Pre-Funded Warrants”) and accompanying common stock warrants to purchase up to 7,394,363 shares of its common stock (the “Purchase Warrants”) to the Underwriter (the “Offering”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

SYNLOGIC, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-246542

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