SYNLOGIC, INC.
SYBX evidence brief
What we can confirm
- BioSniper Score:
- 7.7 / 10
- Market Cap:
- $14.9M
- Lead Asset:
- labafenogene marselecobac (Phase 3)
What it means
What to watch
Prepared research question
What matters most for SYBX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SYBX
SYNLOGIC, INC. (SYBX) is a biopharmaceutical company that previously advanced synthetic biology-based therapeutics for rare metabolic disorders, having discontinued its lead Phase 3 program and entered into a merger agreement with Caldera in July 2026.
Key risk: Merger execution risk
BioSniper Score
Based on 4 of 6 signals
Market Cap
$14.9M
Cash Runway
—
Lead Asset
labafenogene marselecobac (Phase 3)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates for SYNLOGIC, INC..
Similar companies
SYNLOGIC, INC. (SYBX) is a biopharmaceutical company that previously advanced synthetic biology-based therapeutics for rare metabolic disorders, having discontinued its lead Phase 3 program and entered into a merger agreement with Caldera in July 2026.
- SYNLOGIC discontinued its pivotal Phase 3 study (Synpheny-3) for labafenogene marselecobac (SYNB1934) in February 2024 after an internal review indicated the trial was unlikely to meet its primary endpoint [sec_mda · as of 2026-08-11].
- On July 28, 2026, SYNLOGIC entered into a merger agreement with Caldera and certain subsidiaries, under which SYNLOGIC will be merged into a merger subsidiary of the Parent [sec_mda · as of 2026-08-11].
- As of June 30, 2026, SYNLOGIC reported cash & equivalents of $13.2M, zero product revenue, net income of -$0.5M, and shareholders' equity of $12.0M [sec].
- The company has not generated any product revenue since inception and does not expect to generate any product revenue [sec_mda · as of 2026-08-11].
- SYNLOGIC's pipeline includes a preclinical candidate (synb2081) for gout, which consumes uric acid in the GI tract using E. coli Nissle 1917 [pipeline].
What works
- SYNLOGIC's platform leverages familiar manufacturing processes (fermentation and lyophilization) with proprietary innovations, facilitating process design and scale-up [sec_mda · as of 2025-11-13].
- The company has a preclinical candidate (synb2081) for gout, a large-market indication, with a mechanism of action that consumes uric acid in the GI tract [pipeline].
- Management believes current cash and equivalents as of June 30, 2026 will be sufficient to fund operations at current levels for at least the next 12 months [sec_mda · as of 2026-08-11].
What to weigh
- SYNLOGIC discontinued its lead Phase 3 program (SYNB1934) for PKU after an internal review indicated the trial was unlikely to meet its primary endpoint [sec_mda · as of 2026-08-11].
- The company has never generated any product revenue and does not expect to generate any product revenue [sec_mda · as of 2026-08-11].
- SYNLOGIC's future is tied to the merger with Caldera, which introduces uncertainties regarding the combined entity's preclinical and clinical development timelines and regulatory path [sec · filed 2026-07-29].
- The company's cash position is limited ($13.2M as of 2026-06-30) and its net income was negative (-$0.5M) for the most recent reporting period [sec].
From the filings
Quoted directly from source documents.
Discontinuation of lead Phase 3 study
“February 2024, we made the decision to discontinue Synpheny-3, our pivotal study of our lead product candidate, labafenogene marselecobac (SYNB1934), as a potential treatment for PKU. The decision to end Synpheny-3 is based on results of an internal review in advance of an upcoming independent Data Monitoring Committee (DMC) assessment, which indicated the trial was unlikely to meet its primary endpoint.”
SEC MD&A · August 11, 2026
Merger agreement with Caldera
“On July 28, 2026, we entered into the Merger Agreement with Caldera and certain newly formed subsidiaries of the Parent. Pursuant to the Merger Agreement, and upon the terms and subject to the satisfaction or waiver of the conditions described therein, we will be merged with and into a merger subsidiary of Parent”
SEC MD&A · August 11, 2026
No product revenue and cash runway
“We have generated revenue from our prior collaborations, but have not generated any product revenue since our inception and do not expect to generate any product revenue. We believe that our current cash and cash equivalents as of June 30, 2026 will be sufficient to fund our operations at the current levels for at least the next 12 months from the date of this filing.”
SEC MD&A · August 11, 2026
Preclinical pipeline candidate for gout
“Pipeline Candidate: synb2081 Indication: gout Phase: Preclinical Mechanism of Action: consume uric acid in the GI tract Delivery Vector: E. coli Nissle 1917”
Pipeline
Risks & what to watch (4)›
Key risks
- Merger execution risk — The merger with Caldera may not close or may face delays; combined entity's development timelines and regulatory path are uncertain [sec · filed 2026-07-29].
- No product revenue — SYNLOGIC has never generated product revenue and does not expect to, relying solely on cash reserves and potential merger outcomes [sec_mda · as of 2026-08-11].
- Limited cash runway — Cash of $13.2M as of 2026-06-30 may be insufficient if merger costs or operational expenses exceed expectations [sec].
- Failed lead program — Discontinuation of Synpheny-3 due to likely failure to meet primary endpoint raises questions about platform's clinical viability [sec_mda · as of 2026-08-11].
What to watch
- Completion of the merger with Caldera and the combined entity's strategic direction [sec_mda · as of 2026-08-11].
- Any updates on preclinical candidate synb2081 for gout, including potential advancement to clinical trials [pipeline].
- Cash burn rate and whether the company will need additional financing before the merger closes [sec].
- Regulatory interactions and clinical development plans for CLD-423, as referenced in the merger context [sec · filed 2026-07-29].
Sources: Pipeline · SEC filings · SEC MD&A · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.12 · 0% dilution
Lead: Phase 3
3 candidates
No upcoming catalysts tracked
1 buy · 0 sells (180d)
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
2
Total value held
$15K
| Holder | Shares | Value |
|---|---|---|
| drw securities, llc | 23,763 | $14K |
| hilltop national bank | 20 | $12 |
Short Interest
as of Apr 22, 2026- % of float
- 0.2%
- Days to cover
- 0.1
- Shares short
- 10,406
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SYBX short interestGovernance
Frequently asked questions
What is the AI investment thesis for SYNLOGIC, INC.?
SYNLOGIC, INC. (SYBX) is a biopharmaceutical company that previously advanced synthetic biology-based therapeutics for rare metabolic disorders, having discontinued its lead Phase 3 program and entered into a merger agreement with Caldera in July 2026.
What is SYNLOGIC, INC.'s lead drug candidate?
SYNLOGIC, INC.'s most advanced tracked candidate is labafenogene marselecobac (Phase 3) for phenylketonuria (PKU).
Who is the CEO of SYNLOGIC, INC.?
Aoife M. Brennan is the chief executive officer of SYNLOGIC, INC. (SYBX).
Where is SYNLOGIC, INC. headquartered?
SYNLOGIC, INC. (SYBX) is headquartered in Winchester, MA, United States.
What therapeutic areas does SYNLOGIC, INC. focus on?
SYNLOGIC, INC. develops therapies across Rare Disease, Metabolic.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.