Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD -0.08.

EBIT: As of FY2025, the actual value is USD -4.703 M.

Segment Information

Synlogic, Inc. operates in a single segment: the discovery and development of Synthetic Biotics .

Revenue

• No revenue was generated for the year ended December 31, 2025 .
• Revenue for the year ended December 31, 2024, was $0.01 million, related to a material transfer and consulting agreement that concluded in March 2024 .

Operating Expenses

• Total Operating Expenses: Total operating expenses decreased to $4.008 million in 2025 from $40.958 million in 2024, representing a decrease of - $36.950 million or -90% .
• Research and Development Expense: Research and development expense decreased to $0.043 million in 2025 from $9.154 million in 2024, a decrease of - $9.111 million or -100% . This reduction was primarily due to a - $4.0 million decrease in external R&D costs (including a - $4.4 million decrease for Labafenogene marselecobac (SYNB1934) and a $0.4 million benefit for SYNB1618), and a - $5.1 million decrease in internal R&D costs due to workforce reduction .
• General and Administrative Expense: General and administrative expense decreased to $3.489 million in 2025 from $6.631 million in 2024, a decrease of - $3.142 million or -47%, mainly due to lower compensation, benefits, and professional service costs .
• Restructuring and Other Charges: Restructuring and other charges were $0.476 million in 2025, a decrease of - $24.697 million or -98% from $25.173 million in 2024 . The 2024 charges included impairment charges related to leases, property, equipment, and prepaid R&D, as well as severance, accelerated stock compensation, legal fees, and contract termination costs .

Loss from Operations

• The loss from operations was - $4.008 million in 2025, compared to - $40.950 million in 2024 .

Other Income (Expense)

• Total Other Income, net: Total other income, net, was $3.003 million in 2025, a decrease of - $14.593 million from $17.596 million in 2024 .
• Interest and investment income: Interest and investment income was $0.695 million in 2025, compared to $1.425 million in 2024 .
• Change in fair value of purchase warrant liability: The change in fair value of purchase warrant liability resulted in a gain of $2.308 million in 2025, compared to a gain of $16.173 million in 2024 .

Net Loss

• The net loss for 2025 was - $1.005 million, compared to - $23.359 million in 2024 .

Cash Flow

• Net cash used in operating activities: Net cash used in operating activities was - $4.359 million for 2025, compared to - $31.658 million for 2024 .
• Net cash provided by investing activities: Net cash provided by investing activities was $0.167 million for 2025, compared to $25.339 million for 2024 .
• Net cash provided by financing activities: Net cash provided by financing activities was $0 million for 2025, compared to $0.172 million for 2024 .
• Cash and cash equivalents: Cash and cash equivalents were $14.7 million at December 31, 2025, compared to $18.9 million at December 31, 2024 .

Unique Metrics

• Accumulated Deficit: The accumulated deficit was - $442.7 million as of December 31, 2025 .
• Purchase Warrant Liability: The purchase warrant liability was $2.566 million at December 31, 2025, compared to $4.874 million at December 31, 2024 .
• Equity-based compensation expense: Equity-based compensation expense was $0.1 million in 2025, compared to $3.2 million in 2024 .

Outlook / Guidance

Synlogic, Inc. anticipates that its expenses will remain relatively consistent in the near term as it continues to explore strategic alternatives, with additional costs expected in connection with these activities . The company believes its current cash and cash equivalents as of December 31, 2025, are sufficient to fund operations at current levels for at least the next 12 months from the filing date .