Market Overview

Mirna Therapeutics Announces Results of Annual Meeting of Stockholders


Mirna Therapeutics, Inc. (Mirna) (NASDAQ:MIRN) announced today that,
based upon the final vote count certified by the independent inspector
of elections for the annual meeting of stockholders held August 24,
2017, its stockholders approved all of the merger-related proposals,
including: (i) the Agreement and Plan of Merger and Reorganization,
dated as of May 15, 2017, by and among Mirna, Meerkat Merger Sub, Inc.
and Synlogic, Inc. (Synlogic), and the transactions contemplated
thereby, including the merger and the issuance of Mirna's common stock
to Synlogic's stockholders pursuant to the Agreement and Plan of Merger
and Reorganization, (ii) an amendment to the amended and restated
certificate of incorporation of Mirna to effect a reverse stock split of
Mirna's common stock, at a ratio of one new share for every five to nine
shares outstanding and (iii) an amendment to the amended and restated
certificate of incorporation of Mirna to change the corporate name of
Mirna from "Mirna Therapeutics, Inc." to "Synlogic, Inc." As a result of
the stockholders' approval of the reverse stock split, the Board of
Directors of Mirna approved a reverse stock split of Mirna's common
stock at a ratio of one new share for every seven shares outstanding.
The reverse stock split will become effective at 5:00 p.m. EST on August
25, 2017. Subject to the satisfaction of customary closing conditions,
the closing of the merger with Synlogic is expected to occur on August
28, 2017. The consolidated common shares for the combined company, which
will be renamed Synlogic, Inc., are expected to commence trading on The
NASDAQ Capital Market under the symbol "SYBX" on August 28, 2017.

"We are pleased to have received such strong support for this
transaction from our stockholders, with approximately 94.7% of the
stockholder votes cast at the meeting approving the merger," stated Paul
Lammers, M.D., M.Sc., Mirna's President and Chief Executive Officer.

In addition to the merger related proposals, Mirna's stockholders also
(i) approved the election of Lawrence M. Alleva and Michael Powell,
Ph.D., to Mirna's Board of Directors for three year terms set to expire
no later than in 2020 and (ii) ratified the selection, by the Audit
Committee of Mirna's Board of Directors, of Ernst & Young LLP as the
independent registered public accounting firm of the Mirna for its
fiscal year ending December 31, 2017.

About Mirna
Mirna is a biopharmaceutical company that has
focused on the development of microRNA-based oncology therapeutics.
Mirna's first product candidate, MRX34, the first microRNA mimic to
enter clinical development in oncology, was studied as a single agent in
a multicenter Phase 1 clinical trial. In September 2016, Mirna
voluntarily halted enrollment and dosing in the clinical study following
multiple immune-related serious adverse events (SAEs) observed in
patients dosed with MRX34 over the course of the trial. Subsequently,
the U.S. Food and Drug Administration (FDA) notified the Company that
the Investigational New Drug (IND) Application for MRX34 was placed on
full clinical hold. The Company has since closed the IND and focused on
evaluating strategic alternatives, including the possibility of a merger
or sale of the Company.

About Synlogic™
Synlogic is pioneering the development of a
novel class of living treatments, Synthetic BioticTM medicines,
based on its proprietary drug development platform. Synlogic's initial
pipeline includes Synthetic Biotic medicines for the treatment of rare
genetic diseases, such as Urea Cycle Disorder (UCD) and Phenylketonuria
(PKU). In addition, the company is leveraging the broad potential of its
platform to create Synthetic Biotic medicines for the treatment of more
common diseases, including liver disease, inflammatory and immune
disorders, and cancer. Synlogic is collaborating with AbbVie to develop
Synthetic Biotic-based treatments for inflammatory bowel disease (IBD).
For more information, please visit

About Synthetic Biotic Medicines:
Synlogic's innovative new
class of Synthetic Biotic medicines leverages the tools and principles
of synthetic biology to genetically reengineer beneficial, probiotic
microbes to perform critical functions missing or damaged due to
disease. The company's two lead programs target a group of rare
metabolic diseases – inborn errors of metabolism (IEM). Patients with
these diseases are born with a faulty gene, inhibiting the body's
ability to breakdown commonly occurring by-products of digestion that
then accumulate to toxic levels and cause serious health consequences.
When delivered orally, these medicines can act from the gut to
compensate for the dysfunctional metabolic pathway and have a systemic
effect. Synthetic Biotic medicines are designed to clear toxic
metabolites associated with specific metabolic diseases and promise to
significantly improve the quality of life for affected patients.

Forward-Looking Statements
This press release contains
"forward-looking statements" that involve substantial risks and
uncertainties for purposes of the safe harbor provided by the Private
Securities Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release regarding
strategy, future operations, future financial position, future revenue,
projected expenses, prospects, plans and objectives of management are
forward-looking statements. In addition, when or if used in this press
release, the words "may," "could," "should," "anticipate," "believe,"
"estimate," "expect," "intend," "plan," "predict" and similar
expressions and their variants, as they relate to Mirna, Synlogic or the
management of either company, before or after the aforementioned merger,
may identify forward-looking statements. Examples of forward-looking
statements, include, but are not limited to, statements relating to the
timing and completion of the proposed merger; Mirna's continued listing
on the NASDAQ Global Market until closing of the proposed merger; the
combined company's listing on the NASDAQ Global Market after closing of
the proposed merger; expectations regarding the capitalization,
resources and ownership structure of the combined company; the approach
Synlogic is taking to discover and develop novel therapeutics using
synthetic biology; the adequacy of the combined company's capital to
support its future operations and its ability to successfully initiate
and complete clinical trials; the nature, strategy and focus of the
combined company; the difficulty in predicting the time and cost of
development of Synlogic's product candidates; the executive and board
structure of the combined company; and expectations regarding voting by
Mirna's and Synlogic's stockholders. Actual results could differ
materially from those contained in any forward-looking statement as a
result of various factors, including, without limitation: the risk that
the conditions to the closing of the transaction are not satisfied,
including the failure to timely or at all obtain stockholder approval
for the transaction; uncertainties as to the timing of the consummation
of the transaction and the ability of each of Mirna and Synlogic to
consummate the transaction; risks related to Mirna's ability to
correctly estimate its operating expenses and its expenses associated
with the transaction; the ability of Mirna or Synlogic to protect their
respective intellectual property rights; unexpected costs, charges or
expenses resulting from the transaction; potential adverse reactions or
changes to business relationships resulting from the announcement or
completion of the transaction; and legislative, regulatory, political
and economic developments. The foregoing review of important factors
that could cause actual events to differ from expectations should not be
construed as exhaustive and should be read in conjunction with
statements that are included herein and elsewhere, including the risk
factors included in Mirna's Quarterly Report on Form 10-Q filed with the
SEC on May 9, 2017 and Mirna's most recent Registration Statement on
Form S-4 filed with the SEC. Mirna can give no assurance that the
conditions to the transaction will be satisfied. Except as required by
applicable law, Mirna undertakes no obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events or

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at