Synlogic Inc. (SYBX) stock prices were up by 17.78% some time after market trading commenced on September 3rd, 2021. This brought the price per share up to USD$3.18 early on in the trading day.
Q2 2021 Financials
The end of the second quarter of fiscal 2021 saw SYBX stock report a solid liquidity position. The company had cash, cash equivalents, and short-term investments in the amount of USD$115.5 million as of June 30th 2021. Q2 2021 saw the company report a consolidated net loss of USD$14.5 million, representing a net loss of USD$0.28 per share. This is comparable to a consolidated net loss of USD$15.5 million, which comes out to USD$0.44 per share, for the prior-year period.
R&D and G&A Costs
Research and development costs for the second quarter of fiscal 2021 were down to USD$10.7 million. Comparable R&D costs for the prior-year period came out to USD$12.9 million. General and Administrative expenses for the 2021 quarter, ended June 30th, 2021, came out to USD$4.1 million. This is compared to the USD$3.5 million reported for the second quarter of fiscal 2020.
SYBX Stock’s Collaboration with Roche
SYBX stock reported revenue in the amount of USD$0.2 million for the quarter ended June 30th, 2021, as compared to the USD$0.4 million reported for the prior-year period. Revenues for the 2021 quarter were generated in collaboration with Roche, for the discovery of a new Synthetic Biotic medicine for the treatment of IBD. As per the agreement, the partnering companies will collaborate to develop a Synthetic Biotic medicine that will address an undisclosed novel target in inflammatory bowel disease. Revenues for the 2020 quarter were due to the previous collaboration with AbbVie, which was terminated in May 2020.
SYBX Stock’s Partnership with Gingko
The company continues to advance its long-term strategic platform collaboration with Gingko Bioworks. This partnership facilitates the provision of an expanded synthetic biology capability for SYBX stock. This is a result of multiple undisclosed metabolic programs that are currently in the preclinical stages of development. April 2021 saw the company complete an underwritten public offering of 11.5 million shares, generating roughly USD$32.6 million in the capital.
Future Outlook for SYBX Stock
SYBX stock reported a promising quarter, consolidated by the strength of its financial reports for the second quarter of fiscal 2021. The company is poised to capitalize on the momentum generated over the course of the first half of the fiscal year. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
