Synlogic recently traded at $2.97, up 32.59%. The stock has risen 3.4% year to date.
The drug, an intra-tumoral treatment, has advanced into the combination therapy stage of the ongoing Phase 1 trial, the company said in a statement.
The drug was being advanced “due to acceptable safety at doses evaluated to date, intra-tumoral injection feasibility, successful escalation to clinically relevant dose levels, and evidence of target engagement and immune system up-regulation,” Synlogic said.
“The drug is composed of an engineered synthetic biotic designed to activate the STING pathway in the tumor microenvironment in order to up-regulate the patient's immune response,” the company added.
"Our goal is to bring the benefits of immunotherapy to patients fighting cancer who do not have the option of immunotherapies today," Synlogic Chief Executive Aoife Brennan said in a statement.
“Synlogic is designing synthetic biotic medicines that work uniquely inside the tumor microenvironment, boosting the patient's immune response and promoting the body's ability to detect and destroy cancer cells.”
Further, “the interim results of our monotherapy cohorts suggest SYNB1891 is working as designed, up-regulating the immune system in the tumor microenvironment via the STING pathway,” Brennan said.
Synlogic had zero revenue in the third quarter, down from $300,000 a year earlier. That revenue stemmed from the company’s collaboration with AbbVie (ABBV) - Get Report to develop synthetic biotic medicines for the treatment of irritable bowel disease. That venture was terminated in May.