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Mary Beth Dooley, Principal Executive Officer and Principal Financial (NASDAQ:PFG) Officer of Synlogic, Inc. (NASDAQ:SYBX), sold 2,107 shares of common stock on February 3, 2025. The company, currently valued at $16 million, has shown impressive revenue growth of 292% over the last twelve months, though InvestingPro analysis indicates the company is quickly burning through cash. The shares were sold at a price of $1.33 each, totaling $2,802. This transaction was conducted to cover the tax liability associated with the vesting of a restricted stock award granted on January 2, 2024, which vested on January 31, 2025. While InvestingPro data shows the company maintains a healthy current ratio of 2.71, indicating strong short-term liquidity, analysts do not expect profitability this year. Following this transaction, Dooley holds 13,045 shares of Synlogic.
In other recent news, Synlogic, Inc., a pharmaceutical firm, has been the subject of several significant developments. The company announced the immediate resignation of board member Nick Leschly, a transition that was reported to be voluntary and not due to any disagreements with the company’s operations, policies, or practices.
Additionally, Synlogic has experienced changes within its executive team, with Antoine Awad, the Principal Executive Officer, set to depart the company at the end of 2024. Mary Beth Dooley, currently Head of Finance, will assume the roles of Principal Executive Officer and Principal Financial Officer starting from January 2025.
The company also reported the reelection of Nick Leschly as a Class III director during its Annual Meeting of Stockholders. In the same meeting, shareholders approved the compensation of the company’s named executive officers and ratified the appointment of KPMG LLP as Synlogic’s independent registered public accounting firm for the fiscal year ending December 31, 2024.
These recent developments highlight the ongoing changes in Synlogic’s governance and executive team, providing investors with a clear picture of the company’s current state.
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