Synlogic Announces Closing of $21.0 Million Underwritten Public Offering
04 10월 2023 - 5:15AM
Synlogic, Inc. (Nasdaq: SYBX), a clinical-stage biotechnology
company advancing novel, oral, non-systemically absorbed
biotherapeutics to transform the care of serious diseases, today
announced the closing of its previously announced underwritten
public offering.
The offering consisted of 7,394,363 shares of common stock (or
pre-funded warrants to purchase common stock in lieu thereof) and
accompanying common warrants to purchase up to 7,394,363 shares of
common stock. The combined effective offering price to the public
of each share of common stock (or pre-funded warrant) and
accompanying warrant was $2.84. The accompanying warrants have an
exercise price of $3.408 per share, will be exercisable
immediately, and will expire five years from the initial exercise
date. The aggregate gross proceeds to Synlogic from the public
offering were approximately $21.0 million, prior to deducting
underwriting discounts, commissions and other estimated offering
expenses. Participants in the offering included new and existing
investors. Chardan acted as sole book-running manager for the
offering.
Synlogic anticipates existing cash and cash equivalents and the
proceeds from this offering will be sufficient to fund planned
operations into the first half of 2025.
The Securities and Exchange Commission (“SEC”) declared
effective a registration statement on Form S-1 relating to these
securities on September 27, 2023. A final prospectus relating to
this offering was filed with the SEC. The offering was made only by
means of a prospectus. Copies of the prospectus relating to the
offering may be obtained from Chardan Capital Markets, LLC, 17
State Street, Suite 2130, New York, New York 10004, at (646)
465-9000, or by email at prospectus@chardan.com. Investors may also
obtain these documents at no cost by visiting the SEC’s website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Synlogic
Synlogic is a clinical-stage biotechnology company advancing
novel, oral, non-systemically absorbed biotherapeutics to transform
the care of serious diseases in need of new treatment options. The
Company’s late-stage pipeline is focused on rare metabolic
diseases, led by labafenogene marselecobac (SYNB1934), currently
being studied as a potential treatment for phenylketonuria (PKU) in
Synpheny-3, a global, pivotal Phase 3 study. Additional product
candidates address diseases including homocystinuria (HCU), enteric
hyperoxaluria, gout, and cystinuria. This pipeline is fueled by the
Synthetic Biotic platform, which applies precision genetic
engineering to well-characterized probiotics. This enables Synlogic
to create GI-restricted, oral medicines designed to consume or
modify disease-specific metabolites – an approach well suited for
PKU and HCU, both inborn errors of metabolism, as well as other
disorders in which the disease–specific metabolites transit through
the GI tract, providing validated targets for these Synthetic
Biotics. Research activities include a partnership with Roche
focused on inflammatory bowel disease (IBD), and a collaboration
with Ginkgo Bioworks in synthetic biology, which has contributed to
two pipeline programs to date. For more information, please visit
www.synlogictx.com or follow us on Twitter, LinkedIn, Facebook or
Instagram.
Special Note Regarding Forward-Looking and Cautionary
Statements
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties for purposes of the
safe harbor provided by the Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
facts, included in this press release regarding strategy, future
operations, clinical development plans, future financial position,
future revenue, projected expenses, prospects, plans and objectives
of management are forward-looking statements. In addition, when or
if used in this press release, the words "may," "could," "should,"
"anticipate," "believe," "look forward, " "estimate," "expect,"
"intend," "on track, " "plan," "predict" and similar expressions
and their variants, as they relate to Synlogic, may identify
forward-looking statements. Examples of forward-looking statements,
include, but are not limited to, statements regarding the expected
use of proceeds thereof, the potential of Synlogic's approach to
Synthetic Biotics to develop therapeutics to address a wide range
of diseases including: inborn errors of metabolism and inflammatory
and immune disorders; Synlogic’s expectations about sufficiency of
its existing cash balance; the future clinical development of
Synthetic Biotics; the approach Synlogic is taking to discover and
develop novel therapeutics using synthetic biology; and the
expected timing of Synlogic's clinical trials of labafenogene
marselecobac (SYNB1934), SYNB1353, SYNB8802 and SYNB2081 and
availability of clinical trial data. Actual results could differ
materially from those contained in any forward-looking statements
as a result of various factors, including: the uncertainties
inherent in the clinical and preclinical development process; the
ability of Synlogic to protect its intellectual property rights;
and legislative, regulatory, political and economic developments,
as well as those risks identified under the heading "Risk Factors"
in Synlogic's filings with the U.S. Securities and Exchange
Commission. The forward-looking statements contained in this press
release reflect Synlogic's current views with respect to future
events. Synlogic anticipates that subsequent events and
developments will cause its views to change. However, while
Synlogic may elect to update these forward-looking statements in
the future, Synlogic specifically disclaims any obligation to do
so. These forward-looking statements should not be relied upon as
representing Synlogic's view as of any date subsequent to the date
hereof.
Media Contact: media@synlogictx.com
Investor Relations: investor@synlogictx.com
Synlogic (NASDAQ:SYBX)
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Synlogic (NASDAQ:SYBX)
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부터 12월(12) 2023 으로 12월(12) 2024