Synlogic rises on FDA's 'fast-track' tag for metabolic disorder drug

Synlogic

11/07/2023 14:57

** Shares of drugmaker Synlogic Inc  SYBX.O  rise ~9.5% to
$0.55
    ** Co says the U.S. FDA has granted fast-track designation
to its experimental drug to treat a rare metabolic disorder
called phenylketonuria
    ** Phenylketonuria is an inherited disorder that increases
the levels of a substance called phenylalanine in the blood  
    ** The drug candidate, labafenogene marselecobac, helps
lower the levels of phenylalanine, which at increased levels can
cause intellectual disability and other serious health problems 
  
    ** The fast-track designation facilitates development and
expedites review of drug candidates intended to treat serious
conditions
    ** Including session gains, SYBX shares down ~29% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))