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Synlogic downgraded to Sell from Buy at H.C. Wainwright

H.C. Wainwright double downgraded Synlogic to Sell from Buy without a price target after the company announced its decision to discontinue the pivotal, Phase 3 SYNPHENY-3 study of labafenogene marselecobac as a potential treatment for phenylketonuria. The firm says the company has suffered a “sudden and stunning implosion.”

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