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Why Synthetic Biologics (SYN) Stock Is Surging Today

NEW YORK (TheStreet) -- Synthetic Biologics  (SYN) surged Thursday after the biotechnology company reported its first-quarter results.

Synthetic reported a loss of $3.84 million, or 7 cents a share, which was in line with the Capital IQ Consensus Estimate of a loss of 7 cents a share. The company did not report any revenue.

The company plans to start a 28-day bridging toxicology study in June for its SYN-004 oral enzyme for the prevention of C. difficile infections. It also expects to start Phase Ia and Ib clinical trials in the second half of 2014, with preliminary topline data expected by the end of the year. Synthetic further plans to begin a Phase II efficacy study in the first half of 2015.

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Synthetic also intends to begin a Phase I clinical trial during the first quarter of 2015 for its SYN-005 Monoclonal Antibody (mAb) Combination for pertussis, or whooping cough. Finally, the company plans a Phase II clinical trial of SYN-010 oral compound for Constipation-Predominant Irritable Bowel Syndrome (C-IBS) during the second half of 2014, with topline data expected during mid-2015.

The stock was up 16.39% to $1.35 at 12:45 p.m. SYN Chart

SYN data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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