Biotechnology company Synlogic (NASDAQ: SYBX) shares are rallying on Monday after the company its SYNB1891 drug has advanced into the combination therapy stage of the ongoing Phase 1 trial.
The Massachusetts based company's investigational drug is used for the treatment of solid tumours and lymphoma. It is being advanced due to acceptable safety doses evaluated to date, intratumoral injection feasibility, successful escalation to clinically relevant dose levels, and evidence of target engagement and immune system upregulation.
“Synlogic is designing Synthetic Biotic medicines that work uniquely inside the tumour microenvironment, boosting the patient's immune response and promoting the body's ability to detect and destroy cancer cells.
“The interim results of our monotherapy cohorts suggest SYNB1891 is working as designed, upregulating the immune system in the tumour microenvironment via the STING pathway,” said Synlogic's President and CEO, Aoife Brennan.
The company said that to date its study results have shown SYNB1891 is safe and well-tolerated at the current evaluated dose levels, and treatment with the drug “demonstrates activation of the STING pathway and target engagement.”
Synlogic's stock price is up 72% premarket at $3.95 after closing Friday's session at $2.21 per share.