Synlogic (SYBX) AI Stock Analysis

• Market Cap: $7.68M
• Dividend Yield: N/A
• Average Volume (3M): 41.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.44
• Revenue Growth: -100.00%
• EPS Growth: 93.62%
• Country: US
• Employees: 1
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): N/A
• Shares Outstanding: 11,698,919
• 10 Day Avg. Volume: 24,108
• 30 Day Avg. Volume: 41,078
• PEG Ratio: 0.14
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.16
• Enterprise Value/Market Cap: -1.00
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: 1.91
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $0.57 ▼(-53.28% Downside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is driven primarily by weak financial performance (minimal/unstable revenue, persistent losses, and ongoing cash burn) alongside a major negative corporate event (Nasdaq delisting to OTC). Technicals reinforce downside trend conditions, while valuation metrics offer limited support due to negative earnings and no dividend.

Positive Factors

Engineered microbial medicines platform

Synlogic’s platform approach of programming microbes to perform targeted biochemical functions is a durable strategic asset: it enables multiple pipeline programs across metabolic and immunology indications, supports technology reuse across assets, and creates a differentiated scientific moat that can produce long‑term program optionality and licensing or partnership opportunities.

Conservative leverage (zero debt)

Having no reported debt in recent years materially lowers refinancing and interest burden risk, giving management flexibility to fund R&D through equity or partnerships rather than fixed obligations. This conservatism preserves downside protection and increases strategic optionality when executing longer clinical development timelines.

Sharply reduced cash burn in 2025

A meaningful reduction in operating cash outflows reflects durable cost discipline and restructuring that cut operating burn. Lower ongoing cash requirements extend runway, reduce near‑term financing pressure, and improve odds management can advance key clinical milestones or secure non‑dilutive partnerships over the coming months.

Negative Factors

Nasdaq delisting and move to OTC

Delisting to the OTC materially reduces liquidity, visibility, and access to many institutional investors, increasing the cost and difficulty of raising capital. For a clinical‑stage biotech dependent on funding for trials, constrained capital access raises execution and dilution risk over the medium term.

Minimal and volatile revenue

Irregular and essentially negligible revenues mean the company cannot rely on product cash flows to fund development. This structural absence of recurring revenue increases dependency on capital markets or partners, making program continuity sensitive to financing cycles and heightening dilution risk over the coming months.

Shrinking equity base and persistent losses

Substantial erosion of shareholders’ equity from cumulative losses reduces the company’s financial buffer and limits flexibility to absorb setbacks. Combined with ongoing negative operating results, the weaker equity base increases the likelihood of future fundraising, potential dilution, or alternative strategic transactions that may constrain long‑term autonomy.

Synlogic Business Overview & Revenue Model

Company Description

Synlogic, Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of synthetic biotic medicines to treat metabolic and immunological diseases in the United States. Its therapeutic programs include SYNB1618 and SYNB1934 that are orally administered, non-systemically absorbed drug candidates, which are in Phase II clinical trials to treat phenylketonuria; SYNB1353, an orally administered, non-systemically absorbed drug candidate to treat homocystinuria; and SYNB8802, an orally administered, non-systemically absorbed drug candidate that is in Phase I clinical trial for the treatment of enteric hyperoxaluria. The company is also developing SYNB1891, an intratumorally administered synthetic biotic medicine that is in Phase I clinical trial to treat solid tumors and lymphoma. It has a collaboration agreement with F. Hoffmann-La Roche Ltd; Hoffmann-La Roche Inc.; and Ginkgo Bioworks, Inc. Synlogic, Inc. is headquartered in Cambridge, Massachusetts.

How the Company Makes Money

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Synlogic Financial Statement Overview

Summary

Overall fundamentals are weak: revenue is minimal and highly volatile, profitability remains deeply negative, and cash flow is consistently negative. Positives include zero debt in the most recent periods and a sharply improved (reduced) cash burn in 2025, but the shrinking equity base and ongoing funding needs keep financial risk elevated.

Income Statement

Revenue is minimal and highly volatile (2024 fell to ~$8K from ~$3.37M in 2023, and 2025 returned to $0), which limits operating leverage and business visibility. Profitability remains deeply negative across the period, with persistent operating losses and net losses (e.g., net income of about -$23.4M in 2024). A positive is that reported losses narrowed sharply in 2025 (annual) versus 2024, but the overall earnings profile is still weak and dependent on cost containment rather than durable revenue expansion.

Balance Sheet

The balance sheet is conservatively levered, with total debt at $0 in 2024–2025 (annual) after moderate leverage in prior years, which reduces refinancing risk. However, the equity base has been shrinking materially over time (stockholders’ equity fell from ~$147.3M in 2021 to ~$11.9M in 2025), reflecting cumulative losses and weakening financial flexibility. Returns on equity are consistently negative, highlighting that capital is not currently generating profits.

Cash Flow

Cash burn remains the central issue: operating cash flow and free cash flow are negative every year shown, indicating ongoing funding needs. That said, the burn rate improved substantially in 2025 (annual) (operating cash flow about -$4.4M versus about -$31.7M in 2024), suggesting meaningful cost reductions. Free cash flow broadly tracks net income (free cash flow to net income ~1x), implying losses are largely cash-backed rather than driven by large non-cash add-backs, which keeps liquidity pressure elevated.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	8.00K	3.37M	1.18M	1.75M
Gross Profit	0.00	8.00K	3.37M	1.18M	1.75M
EBITDA	-4.01M	-22.06M	-55.31M	-63.63M	-58.12M
Net Income	-1.00M	-23.36M	-57.28M	-66.15M	-60.56M
Balance Sheet
Total Assets	15.45M	19.83M	75.55M	110.86M	174.74M
Cash, Cash Equivalents and Short-Term Investments	14.67M	18.86M	47.75M	77.63M	128.59M
Total Debt	0.00	0.00	17.27M	20.30M	20.59M
Total Liabilities	3.58M	7.08M	32.90M	28.25M	27.47M
Stockholders Equity	11.86M	12.75M	42.66M	82.61M	147.27M
Cash Flow
Free Cash Flow	-4.36M	-31.67M	-51.83M	-57.62M	-52.88M
Operating Cash Flow	-4.36M	-31.66M	-51.61M	-56.89M	-52.20M
Investing Cash Flow	167.00K	25.34M	38.77M	58.35M	-53.25M
Financing Cash Flow	0.00	172.00K	20.94M	-2.04M	89.38M

Synlogic Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SYBX, the sentiment is Neutral. The current price of 1.22 is above the 20-day moving average (MA) of 0.62, above the 50-day MA of 0.71, and below the 200-day MA of 1.27, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 53.06 is Neutral, neither overbought nor oversold. The STOCH value of 52.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SYBX.

Synlogic Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CING	52 Neutral	$87.95M	―	-284.50%	―	―	93.84%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
LSTA	51 Neutral	$45.25M	-0.97	-84.39%	―	―	15.32%
ICU	44 Neutral	$8.93M	-1.08	-290.37%	―	1195.59%	87.66%
APVO	43 Neutral	$4.66M	-0.19	-389.34%	―	―	99.02%
SYBX	40 Underperform	$7.68M	-13.72	-27.54%	―	-100.00%	93.62%
ALLR	40 Underperform	$18.81M	-2.07	-112.05%	―	―	99.82%

Synlogic Corporate Events

Synlogic to Delist from Nasdaq and Move to OTC

On November 21, 2025, Synlogic received a notice from Nasdaq’s Listing Qualifications Department stating that, based on its review of the company’s public disclosures, it believed Synlogic had become a public shell and that continued listing of its securities was no longer warranted, with a suspension and delisting targeted for December 2, 2025 unless the company requested a hearing. Synlogic requested such a hearing on November 28, 2025, temporarily staying any suspension, but after further consideration withdrew its hearing request on January 16, 2026, leading Nasdaq that same day to notify the company that trading in its shares will be suspended at the open of business on January 21, 2026 and that a delisting filing with the SEC will follow. Synlogic plans for its common stock to be quoted on the OTC Markets following the Nasdaq delisting, and it will remain an SEC-reporting company, with the transition expected not to affect its underlying business operations, though it shifts its market presence from a national exchange to an over-the-counter platform.

The most recent analyst rating on (SYBX) stock is a Sell with a $1.00 price target. To see the full list of analyst forecasts on Synlogic stock, see the SYBX Stock Forecast page.

Synlogic Holds Annual Meeting, Elects Directors

On December 15, 2025, Synlogic held its Annual Meeting where 87.97% of the outstanding shares were represented. During the meeting, James Flynn and Richard P. Shea were reelected as Class I directors, the executive compensation was approved, the 2025 Equity Incentive Plan was adopted, and KPMG LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025.