H.C. Wainwright upgraded Synlogic to Neutral from Sell with no price target after the company announced that it continues to evaluate strategic options after its decision to discontinue the pivotal, Phase 3 Synpheny-3 study of its lead program labafenogene marselecobac, or SYNB1934, as a potential treatment for phenylketonuria, or PKU. Synlogic is “now in a holding pattern” and trading at just one-third cash, the analyst tells investors.
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