Mary Beth Dooley, the Head of Finance at Synlogic, Inc. (NASDAQ:SYBX), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Dooley sold 79 shares of Synlogic's common stock on October 29, 2024, at a price of $1.40 per share, totaling approximately $110. This transaction was carried out to cover tax liabilities related to the vesting of a restricted stock award. Following the sale, Dooley retains ownership of 15,152 shares of Synlogic stock.
InvestingPro Insights
While Mary Beth Dooley's recent sale of Synlogic (NASDAQ:SYBX) shares was relatively small and for tax purposes, it's worth examining the company's financial health to provide context for investors. According to InvestingPro data, Synlogic's market capitalization stands at $17.08 million, reflecting its status as a small-cap biotech firm.
An InvestingPro Tip indicates that Synlogic holds more cash than debt on its balance sheet, which could be seen as a positive sign for a company in the capital-intensive biotech sector. This financial cushion may provide some runway for the company's operations and research activities.
However, another InvestingPro Tip reveals that Synlogic is quickly burning through cash. This is not uncommon for early-stage biotech companies, but it does underscore the importance of monitoring the company's financial position. The company's revenue for the last twelve months as of Q2 2024 was $3.17 million, with a striking revenue growth of 219.23% over the same period. Despite this growth, Synlogic reported an adjusted operating income of -$37.2 million, indicating significant ongoing expenses.
For investors considering Synlogic, it's worth noting that InvestingPro offers 5 additional tips that could provide further insights into the company's financial outlook and market position. These additional tips, along with real-time metrics, can be valuable for making informed investment decisions in the volatile biotech sector.
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