Synergy Pharmaceuticals Inc.
) currently has no approved products. The company however has
progressed well with its pipeline in the last few quarters.
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Earlier this week, Synergy Pharma reported third quarter 2013
loss (excluding the change in fair value of derivative
instruments) of 15 cents per share, which remained flat year over
year but was narrower than the Zacks Consensus Estimate of a loss
of 17 cents per share.
The biopharmaceutical company did not generate any revenues in
the third quarter of 2013, as was the case in the year-ago
Research and development expenses at Synergy Pharma climbed 30.8%
to $10.8 million in the third quarter of 2013. The increase was
due to Synergy Pharma's efforts to develop its pipeline. General
and administrative costs in the reported quarter spiralled 46.1%
to $2.7 million.
Focus on Plecanatide
Plecanatide is Synergy Pharma's lead pipeline candidate. In Nov
2013, the company initiated a phase III study (n~1350) on
plecanatide in adults suffering from chronic idiopathic
constipation (CIC). The phase III study will be evaluating a
dose-ranging regimen of plecanatide in comparison to placebo in
patients suffering from CIC. The primary objective of the study
will be to assess the overall responders for the 12-week
Plecanatide is also being developed for treating patients
suffering from irritable bowel syndrome with constipation (IBS-C)
in a phase IIb study. Synergy Pharma expects to enrol the last
patient for the study by year end and release top-line data from
this study in the first quarter of 2014. 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 Hives FV-100 Assets
In Aug 2013, ContraVir Pharmaceuticals, Inc. - currently a
subsidiary of Synergy Pharma - filed a Form 10 Registration
Statement with the U.S. Securities and Exchange Commission (SEC)
for the planned spin-off of ContraVir to Synergy Pharma
shareholders. ContraVir now holds the rights to FV-100 9
(shingles). Through this move Synergy Pharma intends to focus on
its core areas of strength.
Synergy Pharma currently carries a Zacks Rank #2 (Buy). Right
Jazz Pharmaceuticals Public Limited Company
) looks more attractive in the pharma sector with a Zacks Rank #1