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 the U.S. Patent and Trademark Office has issued a patent that covers use of a range of compounds, including the active agent of SYN-010, for the treatment of irritable bowel syndrome with constipation (IBS-C). This is Synthetic Biologics’ first issued U.S. patent directly pertaining to SYN-010 and adds to the Company’s extensive IBS-C patent estate.
U.S. Patent No. 9,192,618, issued on November 24, 2015, includes claims that cover Synthetic Biologics’ clinical SYN-010 IBS-C program. This patent, which is exclusively licensed from Cedars-Sinai Medical Center (CSMC), is the result of research directed byMark Pimentel, M.D., FRCP©, Director of CSMC’s GI Motility Program and Laboratory and Chairman of Synthetic Biologics’ IBS-C Clinical Advisory Board. This new U.S. patent enlarges Synthetic Biologics’ SYN-010-related patent estate; patents from the same family have been granted in Europe, Canada and Australia. Additional worldwide patent filings, co-owned by CSMC and Synthetic Biologics and licensed to the Company, include composition of matter claims that could extend patent protection of SYN-010 to 2035.
SYN-010 is Synthetic Biologics’ proprietary, modified-release formulation of lovastatin lactone that is intended to reduce methane production by certain microorganisms (M. smithii) in the gut while minimizing disruption to the microbiome. SYN-010 is intended to act primarily in the intestinal lumen, ideally limiting systemic absorption, thereby targeting a major cause of IBS-C, not just the symptoms. Synthetic Biologics anticipates a 505(b)(2) regulatory pathway for SYN-010.
“This new patent will strengthen the protection of SYN-010 in the U.S. and complements existing foreign patents,” said Jeffrey Riley, Chief Executive Officer of Synthetic Biologics. “We continue to bolster the Company’s patent estate while making progress toward our goals to report Phase 2 topline results from both our IBS-C and prevention of C. difficile infection programs this quarter.”
Synthetic Biologics’ Microbiome Clinical Program Seminar in NYC
As previously announced, Synthetic Biologics is hosting a Microbiome Clinical Program Seminar on Thursday, December 10, 2015, from 9:00 – 11:30 a.m. EST in New York City. Clinical updates will be provided on Synthetic Biologics’ gut microbiome candidates – SYN-010 for the treatment of IBS-C and SYN-004 for the prevention of C. difficile infection and antibiotic-associated diarrhea. Space is limited, and attendance is by invitation only. A live webcast will be available at www.syntheticbiologics.com, and an archived replay will be available following the event. (Original Source)
Shares of Synthetic Biologics closed yesterday at $2.83. 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 $2.34 and its 200-day moving average is $2.55.
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 182.7% 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 -2.1% and 12.2% respectively. Butt has a success rate of 57.9% and is ranked #2913 out of 3636 analysts, while Chiang has a success rate of 65.8% and is ranked #487.
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.