Synlogic Inc (OTC: SYBX) is a biopharmaceutical company that previously advanced novel therapeutics for serious diseases, with a focus on rare metabolic disorders. The company generated no product revenue, operating as a clinical-stage entity funded through equity issuances including at-the-market offerings. Its lead program, labafenogene marselecobac (SYNB1934), was studied in Synpheny-3, a global pivotal Phase 3 trial for phenylketonuria (PKU), and SYNB1353 was in development as a potential treatment for homocystinuria (HCU). Following the failure to maintain Nasdaq listing requirements, Synlogic's shares were suspended from Nasdaq on January 21, 2026, and the company has since traded on OTC Markets. As of the 10-K filed March 12, 2026, Synlogic considers itself a public shell company under Nasdaq rules, with operating expenses consisting primarily of public company compliance costs including personnel, accounting, legal, and audit expenses.

Revenue model

Synlogic had no product revenue as a clinical-stage company. Funding came from equity issuances, including at-the-market common stock offerings. As of the 10-K filed March 12, 2026, the company operates as a shell with expenses limited to public company maintenance costs.

Products and services

Labafenogene marselecobac (SYNB1934), studied in a Phase 3 trial for phenylketonuria (PKU); SYNB1353, in development for homocystinuria (HCU). Both programs targeted inborn errors of metabolism. The company holds patents and intellectual property related to its proprietary technology and inventions.

Customers and end markets

Target patient populations were individuals with rare metabolic disorders, specifically phenylketonuria (PKU) and homocystinuria (HCU). No commercial customers or product sales were reported in the filing.

Value-chain role

Clinical-stage drug developer focused on discovering and advancing therapeutic candidates through clinical trials. The company conducted its own research and relied on intellectual property protections including patents. As of March 12, 2026, it operates as a public shell with no active development programs disclosed.

Geographic exposure

Incorporated in Delaware and headquartered in the United States. The Synpheny-3 Phase 3 clinical trial for PKU was described as a global study. No revenue-based geographic breakdown is disclosed.

Source: SEC 10-K, filed 2026-03-12

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