SYNlogic, Inc. reported its financial results for the second quarter of 2025, revealing a significant decline in both revenue and operating expenses compared to the same period in 2024. The company did not generate any revenue during the three and six months ended June 30, 2025, a decrease from $8,000 in the prior year. Operating expenses totaled $1.7 million for the first half of 2025, down from $38.4 million in the same period of 2024, primarily due to the discontinuation of its Synpheny-3 clinical trial and a substantial reduction in workforce.
The company’s net loss for the second quarter was $529,000, compared to a net income of $3.1 million in the same quarter of 2024, which was bolstered by restructuring gains. For the six months ended June 30, 2025, SYNlogic reported a net loss of $212,000, a significant improvement from a loss of $22.5 million in the prior year. The accumulated deficit as of June 30, 2025, stood at approximately $441.9 million, reflecting the ongoing challenges in achieving profitability.
Strategically, SYNlogic has undergone a corporate restructuring, which included a workforce reduction to just one full-time employee. This decision was part of a broader strategy to explore potential mergers or sales of the company, following the discontinuation of its lead product candidate, labafenogene marselecobac (SYNB1934). The restructuring has led to a decrease in general and administrative expenses, which fell to $1.6 million in the first half of 2025 from $4.1 million in the same period of 2024.
Operationally, the company has engaged consultants to assist with its strategic review process and current business operations. As of June 30, 2025, SYNlogic had $17.0 million in cash and cash equivalents, a decrease from $18.9 million at the end of 2024. The company anticipates that its current cash reserves will be sufficient to fund operations for at least the next 12 months, although it continues to face uncertainties regarding future funding and operational strategies.
Looking ahead, SYNlogic remains focused on evaluating strategic alternatives while managing its expenses. The company has indicated that it does not expect to generate product revenue until it successfully completes clinical development and obtains regulatory approvals for its product candidates. The ongoing review of strategic options may lead to further changes in its operational focus and financial strategy in the coming months.
About SYNLOGIC, INC.
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