Full Press Release Details
Synthetic Biologics Regains Compliance
with NYSE American Continued Listing Standards
Rockville, MD, July 1, 2019 -
Synthetic Biologics, Inc. (NYSE American: SYN), a late-stage clinical company developing therapeutics that preserve
the microbiome to protect and restore the health of patients, announced today receipt, on June 28, 2019, of notification from
the NYSE American LLC (the "Exchange") that the Company has regained compliance with Part 10, Section 1003 of the
NYSE American's Company Guide (the "Company Guide") relating to the Exchange's continued listing requirements.
The Company previously received notification
from the NYSE American citing failure to comply with the minimum stockholders' equity continued listing standard as set forth
in Part 10, Section 1003 of the Company Guide. As a result of management's efforts to regain compliance, the Exchange has
informed the Company that it has cured the previously cited deficiencies and is in full compliance with the continued listing standards
set forth in Part 10 of the Company Guide since it reported stockholders' equity of approximately $13.5 million in its most
recent Form 10-Q, filed with the Securities and Exchange Commission (SEC) on May 8, 2019. Effective at the start of trading on
July 1, 2019, the ".BC" designation, signifying non-compliance with NYSE American listing standards, will be removed
from the "SYN" trading symbol.
About Synthetic Biologics, Inc.
Synthetic Biologics, Inc. (NYSE American:
SYN) is a clinical-stage company developing therapeutics that preserve the microbiome to protect and restore the health of patients.
The Company's lead candidates are: (1) SYN-004 (ribaxamase) which is designed to degrade certain commonly used intravenous (IV)
beta-lactam antibiotics within the gastrointestinal (GI) tract to prevent microbiome damage, C. difficile infection (CDI),
overgrowth of pathogenic organisms, the emergence of antimicrobial resistance (AMR) and acute graft-versus-host-disease (aGVHD)
in allogeneic hematopoietic cell transplant (HCT) recipients, and (2) SYN-010, which is intended to reduce the impact of methane-producing
organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C). The Company's
preclinical pursuits include SYN-020, an oral formulation of the enzyme intestinal alkaline phosphatase (IAP) to treat both local
GI and systemic diseases as well as monoclonal antibody therapies for the prevention and treatment of pertussis. For more information,
please visit Synthetic Biologics' website at www.syntheticbiologics.com.
This release contains
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking
statements can be identified by terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes," "estimates,"
and similar expressions, and includes statements regarding potential benefits of SYN-004 and SYN-010. These forward-looking statements
are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks
and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results
to differ materially from current expectations include, among others, the ability of Synthetic Biologics' product candidates
to demonstrate safety and effectiveness, as well as results that are consistent with prior results, Synthetic Biologics' clinical
trials continuing enrollment as expected, a failure to receive the necessary regulatory approvals for commercialization of Synthetic
Biologics' therapeutics, including approval of proposed trial designs, a failure of Synthetic Biologics' clinical trials, and those
conducted by investigators, for SYN-004, SYN-010 to be commenced or completed on time or to achieve desired results and benefits,
a failure to file INDs when anticipated, a failure of Synthetic Biologics' clinical trials to continue enrollment as expected or
receive anticipated funding, a failure of Synthetic Biologics to successfully develop, market or sell its products, Synthetic Biologics'
inability to maintain its material licensing agreements, or a failure by Synthetic Biologics or its strategic partners to successfully
commercialize products, Synthetic Biologics' ability to achieve acceptance of its product candidates in the marketplace and the
successful development, marketing or sale of Synthetic Biologics' products by competitors that render Synthetic Biologics' products
obsolete or non-competitive, Synthetic Biologics' ability to continue to comply with other continued listing requirements of the
NYSE American, the continued maintenance and growth of Synthetic Biologics' patent estate, Synthetic Biologics becoming and remaining
profitable, Synthetic Biologics' ability to obtain or maintain the capital or grants necessary to fund its research and development
activities, a loss of any of Synthetic Biologics' key scientists or management personnel and other factors described in Synthetic
Biologics' Form 10-K and 10-K/A for the year ended December 31, 2018 and its other filings with the SEC, including subsequent periodic
reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and Synthetic Biologics
undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future
events, or otherwise, except as required by law.
For further information, please contact:
Synthetic Biologics, Inc. (Corporate and Investors)
Vincent I. Perrone, Director, Corporate Communication, (240)
660-2000, info@syntheticbiologics.com
Gregory Kelley, Senior Vice President, (404) 836-2302, gregory.kelley@ogilvy.com