Synergy Pharmaceuticals Inc.
) recently announced that it will be raising funds through an
underwritten public offering. Synergy Pharma intends to sell $90
million of its common stock through an underwritten public
offering. The aggregate value may amount to $103.5 million if the
underwriters exercise their over-allotment option fully.
We expect the fund raised from the public offering to be
invested in the company's research and development efforts.
Synergy Pharma has several pipeline candidates in its
The lead candidate at Synergy Pharma is plecanatide. In Jan
2013, Synergy Pharma reported positive data from a phase IIb/III
study on plecanatide, being developed for the treatment of
patients suffering from chronic idiopathic constipation
Moreover, in Dec 2012, Synergy Pharma initiated a phase IIb
study with plecanatide for the treatment of patients suffering
from constipation-predominant irritable bowel syndrome (IBS-C).
The trial is evaluating the average change in complete
spontaneous bowel movements (CSBMs) during the course of the
therapy (12 weeks) in comparison to their baseline weekly CSBM
rate established during the screening phase of the study.
Synergy Pharma also has SP-333 in its pipeline. The company
has completed a phase I placebo-controlled, dose-escalating,
single-dose study on the candidate, for the treatment of
inflammatory bowel disease (IBD) including ulcerative colitis
(UC). In Jan 2013, Synergy Pharma initiated a phase I
multiple-ascending-dose clinical study on SP-333 in healthy
Synergy Pharma, a biopharmaceutical company, currently carries
a Zacks Rank #4 (Sell). However, other biopharmaceutical stocks
) currently look more attractive. While UCB and Athersys carry a
Zacks Rank #1 (Strong Buy), Celgene carries a Zacks Rank #2
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