More on Synthetic Biologics Q1 results

|About: Synthetic Biologics, Inc. (SYN)|By:, SA News Editor

Shares of nano cap Synthetic Biologics (SYN +17.2%) jump on a 40% increase in volume in response to its Q1 financial report and business update.

Operating loss: ($3.8M) (-72.7%); cash & equiv: $11.2M (-23.2%).

The company will conduct a 28-day bridging toxicology study on its lead anti-infective product candidate, SYN-004 next month followed by an IND application. A Phase 1a/1b trial should begin in 2H 2014 with preliminary top-line results by year end. A Phase 2 trial will follow in 1H 2015.

A Phase 1 trial for its anti-pertussis product candidate, SYN-005, should begin in Q1 2015 with top-line data available after 90 days. A Phase 2 trial will follow with top-line results expected by 2H 2015. The company intends to request Orphan Drug Designation for SYN-005 for the treatment of pertussis (whooping cough).

Expect an additional capital raise in the near future.