BTIG Starts Synthetic Biologics (SYN) at Buy

BTIG initiated coverage on Synthetic Biologics (NYSE: SYN) with a Buy rating and a price target of $5.

Analyst Timothy Chiang said, "Synthetic Biologics is a clinical stage co. developing products to protect the microbiome. Drugs being evaluated include SYN-010 (modified-release lovastatin the treatment of IBS-c), and SYN-004 (a 2nd generation oral enzyme for the prevention of C. difficile infection and antibiotic associated diarrhea [AAD]). Both of these candidates have recently entered Ph. 2 trials, with readouts expected in late Q4/early Q1. We assign $3/share of the SYN’s valuation to the IBS-C program, and $2/share to the co’s beta lactamase enzyme for the prevention of C. difficile. SYN recently hired Dr. Klaus Gottlieb, a former FDA reviewer for the GI division, as VP, Clinical Affairs. We believe this addition could improve the SYN’s odds of successfully developing SYN-010 and ultimately obtaining FDA approval, which we estimate could occur by 2019."

For an analyst ratings summary and ratings history on Synthetic Biologics click here. For more ratings news on Synthetic Biologics click here.

Shares of Synthetic Biologics closed at $2.17 yesterday.

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