Synlogic rises on plans for workforce reduction

Synlogic

30/11/2022 23:03

** Shares of clinical-stage biopharmaceutical company
Synlogic Inc  SYBX.O  climb 10.3% to $0.66 in extended trading
    ** SYBX says its realignment strategy is estimated to reduce
co's workforce by about 25%  urn:newsml:reuters.com:*:nFWN32Q15G
    ** SYBX says it would incur about $0.8 mln of cost in
connection with the workforce reduction
    ** Co also says that majority of the realignment costs would
be incurred during Q4 2022 and Q1 2023
    ** Up to Wednesday's close, stock had fallen 75.3% YTD
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))