Synlogic slumps after it dumps hyperammonemia drug candidate
US clinical-stage drug developer Synlogic’s (Nasdaq: SYBX) shares plummeted on Tuesday after it said it is discontinuing development of SYNB1020, an early stage clinical product candidate for the treatment of hyperammonemia.
The decision to discontinue the program was based on top-line data from an interim analysis of a randomized, double-blind, placebo-controlled Phase Ib/IIa study of the Synthetic Biotic medicine in 23 patients with cirrhosis and elevated blood ammonia.
The stock decreased 27.74% or $1.43 during the last trading session, falling $3.34 by close of trading yesterday.
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