Synlogic(US:SYBX)2022-05-16 00:51Pipeline and Milestones - Synlogic's lead program targets Phenylketonuria (PKU), with potential to generate $500 million in global revenue with approximately 25% market penetration[6] - Phase 3 initiation for PKU program is expected in H1 2023[8] - Phase 1 data for Homocystinuria (HCU) from healthy volunteers is expected in H2 2022[8] - Proof of concept for Enteric Hyperoxaluria is anticipated in H2 2022[8] Financial Status - Synlogic reported a strong balance sheet with $120.5 million in cash as of March 31, 2022, projecting runway into 2024[8] - For the first quarter of 2022, Synlogic reported revenue of $0.2 million, R&D expenses of $11.7 million, G&A expenses of $4.3 million, and a net loss of $15.7 million[105] Technology and Programs - Synlogic's Synthetic Biotics platform is based on programmable, precision genetic engineering using well-characterized probiotic chassis[10] - SYNB1618 achieved target mean Phe change of -20% in Phase 2 interim analysis for PKU[38] - SYNB8802 demonstrated robust, dose-dependent reductions in oxalate in urinary and fecal analysis in Phase 1 study[83] Market Opportunity - Approximately 75% of PKU patients remain untreated, representing a significant unmet medical need[6, 19] - Synlogic is targeting an addressable launch population of over 3,500 PKU patients in the US[35] - Approximately 10% of people in the U S experience kidney stones, resulting in $2.5-$4.5 billion in direct healthcare costs[74]