Synthetic Biologics Inc (NYSEMKT:SYN), a clinical stage company focused on developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases, announced today that Rhonda Voskuhl, M.D., Professor, Department of Neurology, Jack H. Skirball Chair in Multiple Sclerosis Research and Director, Multiple Sclerosis Program at the University of California, Los Angeles (UCLA) David Geffen School of Medicine, and the lead principal investigator of the Phase 2 clinical trial that evaluated Trimesta™ as a treatment for relapsing-remitting multiple sclerosis (RRMS) in women, published additional clinical trial data in the journal, Lancet Neurology.
As previously disclosed in July 2015, Synthetic Biologics was informed by UCLA that magnetic resonance imaging (MRI) analyses were ongoing to evaluate changes in the brain that correlate with improvements seen in clinical outcomes. With the publication of the data by Dr. Voskuhl, the Company has received topline MRI data and UCLA’s related analysis. Upon receipt of the MRI data set, as is typical with academic collaborations, Synthetic Biologics commenced a thorough third party analysis in order to confirm UCLA’s results for potential business development discussions. The Company continues discussions with the neurology community and potential strategic partners, as it determines next steps for Trimesta. (Original Source)
Shares of Synthetic Biologics closed today at $2.95, up $0.14 or 4.98%. SYN has a 1-year high of $4.32 and a 1-year low of $1.39. The stock’s 50-day moving average is $2.35 and its 200-day moving average is $2.56.
On the ratings front, SYN has been the subject of a number of recent research reports. In a report issued on October 12, RBC analyst Adnan Butt initiated coverage with a Buy rating on SYN and a price target of $8, which implies an upside of 187.8% from current levels. Separately, on October 8, BTIG’s Tim Chiang reiterated a Buy rating on the stock and has a price target of $5.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Adnan Butt and Tim Chiang have a total average return of -1.6% and 12.1% respectively. Butt has a success rate of 57.9% and is ranked #2819 out of 3641 analysts, while Chiang has a success rate of 63.2% and is ranked #510.
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.