Synlogic Has Also Reduced Its Workforce By Approximately 21%, Which Is Expected To Extend Its Cash Runway Further Into 2H Of 2024. The Company Estimates That It Will Incur Approximately $0.9 Million In Costs
Portfolio Pulse from Benzinga Newsdesk
Synlogic has reduced its workforce by 21% and is directing resources towards its late-stage portfolio of product candidates for rare metabolic diseases. This includes prioritizing activities for SYNB1934, SYNB1353, and the ongoing collaboration with Roche.
June 05, 2023 | 10:51 am
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Synlogic's workforce reduction and focus on late-stage portfolio may lead to potential growth in the company's stock.
Synlogic's decision to reduce its workforce and focus on late-stage portfolio for rare metabolic diseases may lead to potential growth in the company's stock. The prioritization of SYNB1934, SYNB1353, and the ongoing collaboration with Roche indicates a strategic shift towards more promising projects, which could positively impact the stock price in the short term.
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