Synlogic (NASDAQ: SYBX) reported Q1 EPS of ($0.51), $0.03 better than the analyst estimate of ($0.54). Revenue for the quarter came in at $338 thousand versus the consensus estimate of $350 thousand.

“We made significant progress on our 2019 goals in the first quarter of the year providing a strong foundation for the continued development of our Synthetic Biotic™ platform and clinical pipeline,” said Aoife Brennan, M.B., Ch.B. Synlogic’s president and chief executive officer. “We strengthened our scientific leadership with the appointment of two experienced drug developers, Dr. Scott Plevy, as Chief Scientific Officer, and Dr. Patricia Hurter, who joined our board of directors and brings additional relevant experience in manufacturing. In addition, we have manufactured clinical trial material in-house for our IO program and made significant advances in developing processes to reliably and reproducibly manufacture solid formulations of our orally administered Synthetic Biotic medicines. The new formulation has a more patient-friendly stability profile and provides a path to longer out-patient studies and eventual commercialization.”

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