|This company is in deep trouble|
On October 9, 2018, Synthetic Biologics, Inc. (the “Company”), received a letter from Joseph A. Sliman, M.D., MPH., its Chief Medical Officer purporting to provide notice of a right to terminate his Employment Agreement, dated January 17, 2017, with the Company for “good reason”, alleging a material reduction in his duties, authorities, and responsibilities as an executive of the Company. The Employment Agreement with Mr. Sliman was by its terms due to expire in December 2018. The Company is reviewing with legal counsel its rights and remedies and it disputes certain aspects regarding Mr. Sliman’s attempt to terminate his Employment Agreement. In the interim, while this dispute with Mr. Sliman regarding his employment is outstanding, Michael Kaleko, M.D., Ph.D., Senior Vice President, Research & Development has agreed to assume Dr. Sliman’s responsibilities.