On 21 Jan 2020, Synlogic, Inc. (NASDAQ: SYBX) spotted trading -72.17% off 52-week high price. On the other end, the stock has been noted 66.49% away from the low price over the last 52-weeks. The stock changed 6.71% to recent value of $3.18. The stock transacted 396572 shares during most recent day however it has an average volume of 459.5K shares. The company has 31.83M of outstanding shares and 25.39M shares were floated in the market.
Synlogic, Inc. (SYBX) recently stated its financial results for the third quarter ended September 30, 2019, and provided an update on its programs and progress.
Third Quarter 2019 Financial Results
As of September 30, 2019, Synlogic had cash, cash equivalents, and short- and long-term investments of $138.7M. The Company anticipates that, based on its current operating plan, its existing cash and cash equivalents will fund company operations through 2021.
For the three months ended September 30, 2019, Synlogic stated a consolidated net loss of $13.3M, or $0.39 per share, contrast to a consolidated net loss of $10.7M, or $0.43 per share, for the corresponding period in 2018.
Research and development expenses were $10.6M for the three months ended September 30, 2019 contrast to $9.9M for the corresponding period in 2018. The increase was primarily Because of increased clinical development costs for our SYNB1618 program.
General and administrative expenses for the three months ended September 30, 2019 were $3.9M contrast to $3.4M for the corresponding period in 2018.
Revenues were $0.3M for the three months ended September 30, 2019, contrast to $1.8M for the corresponding period in 2018. The revenue for both periods is associated with Synlogic’s alliance with AbbVie to develop a Synthetic Biotic medicine for the treatment of inflammatory bowel disease. The decrease in revenue was primarily the result of the achievement of a $2.0M milestone under a September 2018 amendment to the AbbVie contract of which $1.8M was recognized in revenue in the quarter ended September 30, 2018.
According to the most recent quarter its current ratio was 12.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of 22.23% from the mean of 20 days, 32.58% from mean of 50 days SMA and performed -34.71% from mean of 200 days price. Company’s performance for the week was 23.74%, 45.21% for month and YTD performance remained 23.26%.