Synlogic ceases operations, halts PKU treatment trial, and plans to evaluate strategic options, including a potential sale or dissolution.

Synlogic, a biopharmaceutical company, announced it would cease operations and halt a clinical trial for phenylketonuria (PKU) treatment. Following the decision, the company's shares fell 55% to $1.56. Synlogic now plans to evaluate strategic options, including potential sale or dissolution. The company will lay off 90% of its workforce and CEO Aoife Brennan will leave. The decision was not based on safety or tolerability concerns, but on an internal review indicating the trial was unlikely to meet its primary endpoint.

February 08, 2024
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