Synergy Pharmaceuticals Inc.
) reported first quarter 2014 loss (excluding the change in fair
value of financial instruments) of 18 cents per share, narrower
than the year-ago loss and the Zacks Consensus Estimate of a loss
of 24 cents.
The biopharmaceutical company did not generate any revenues in the
first quarter of 2014, as was the case in the year-ago quarter.
Research and development expenses at Synergy Pharma declined 7.3%
to $13.3 million in the first quarter of 2014. General and
administrative costs in the reported quarter remained flat at $3.2
Focus on Plecanatide
Plecanatide is Synergy Pharma's lead pipeline candidate. In Apr
2014, Synergy Pharma reported positive top-line results from a
phase IIb dose-ranging study on plecanatide for treating patients
suffering from irritable bowel syndrome with constipation (IBS-C).
Results showed that plecanatide was successful in showing
statistically significant improvement in complete spontaneous bowel
movement (CSBM) frequency. The candidate was also safe and well
tolerated at all doses during the study. The company now intends to
initiate a phase III study on the candidate in patients suffering
from IBS-C in the second half of this year.
Synergy Pharma is developing plecanatide for other indications as
well. In Apr 2014, the company initiated a second phase III study
on plecanatide in adults suffering from chronic idiopathic
constipation (CIC). In Nov 2013, the company initiated the first
phase III study on plecanatide in adults suffering from CIC. The
phase III studies are evaluating a dose-ranging regimen of
plecanatide in comparison to placebo in patients suffering from
CIC. The primary objective of both these studies is to assess the
overall responders for the 12-week treatment period. We expect
investor focus to remain on the company's lead candidate,
plecanatide, going forward.
Synergy Pharma also has SP-333 in its pipeline. The candidate is
being developed for the treatment of patients suffering from
opioid-induced constipation in a phase II study.
We note that the constipation market currently includes
Synergy Pharma currently carries a Zacks Rank #3 (Hold). Some
better-ranked stocks include Zacks Ranked #2 (Buy)
Ariad Pharmaceuticals Inc.
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