Recent Updates — SYBX

Synlogic, Inc. entered into a definitive merger agreement with Caldera Therapeutics, Inc., to combine in an all-stock transaction under a newly formed holding company that will operate as Caldera Therapeutics and trade on Nasdaq under the ticker "CALD." Pre-merger Synlogic stockholders are expected to own approximately 2.3% of the combined entity, while pre-merger Caldera stockholders will hold 62.8%. Concurrently, Caldera secured a private placement of $278 million from institutional investors to fund Phase 2 clinical trials for CLD-423 through 2029. Synlogic warrants were amended to reduce the exercise price to $0.70 per share and remove cash redemption rights. The transaction is expected to close by early 2027, subject to stockholder approvals and regulatory conditions. Synlogic operates in the biopharmaceutical industry.