Synthetic Biologics Inc (NYSEMKT:SYN), a clinical-stage company focused on developing therapeutics to protect the microbiome while targeting pathogen-specific diseases, today announced that it has closed the public offering of 15.3 million shares of common stock, including the fully exercised over-allotment option by the underwriters covering 2.0 million shares, at an offering price of $3.00 per share. The total gross proceeds of the offering, including the exercise in full of the over-allotment option, were approximately $46.0 million. Net proceeds to the Company, after deducting the underwriters’ discount and other estimated expenses, are expected to be approximately $42.6 million.

The Company anticipates using the net proceeds from the offering to fund its clinical programs including Phase 2 clinical candidates, SYN-004 for the prevention of C. difficile and SYN-010 for the treatment of irritable bowel syndrome with constipation (IBS-C), research & development, potential licensing and acquisition of intellectual property, investments in and acquisition of complementary businesses or partnerships, and for general corporate purposes.

William Blair & Company, L.L.C. and RBC Capital Markets, L.L.C. are the joint book-running managers for the offering. BTIG, LLC is serving as co-manager for the offering. (Original Source)

Shares of Synthetic Biologics are currently trading at $3.20, up nearly one percent. SYN has a 1-year high of $4.32 and a 1-year low of $1.34. The stock’s 50-day moving average is $2.79 and its 200-day moving average is $2.26.

On the ratings front, Synthetic Biologics has been the subject of a number of recent research reports. In a report issued on June 5, William Blair analyst Jonathan Ho reiterated a Buy rating on SYN, with a price target of $12, which implies an upside of 278.5% from current levels. Separately, on June 4, H.C. Wainwright’s Andrew Fein maintained a Buy rating on the stock and has a price target of $4.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Ho and Andrew Fein have a total average return of 22.4% and 30.0% respectively. Ho has a success rate of 69.2% and is ranked #462 out of 3711 analysts, while Fein has a success rate of 67.1% and is ranked #65.

Synthetic Biologics Inc is a biotechnology company focused on the development of novel anti-infective biologic and drug candidates targeting specific pathogens that cause serious infections and other diseases.