Synergy Pharmaceuticals Inc.
) reported a loss of 17 cents per share in the fourth quarter of
2012, wider than the year-ago loss and the Zacks Consensus
Estimate of a loss of 15 cents. The wider loss during the quarter
was primarily due to higher expenses.
Synergy Pharma did not generate any revenues during the
reported quarter as well as in the year-ago quarter.
Synergy Pharma suffered a loss of 61 cents per share for full
year 2012, wider than the year-ago loss of 41 cents but in line
with the Zacks Consensus Estimate of a loss of 61 cents per
share. The company did not generate any revenues in 2012 as well
as in 2011.
Synergy Pharma's research and development (R&D) expenses
increased 59.3% to $9.1 million in the fourth quarter of 2012.
The company's general and administrative expenses increased 10.1%
to $2.4 million.
In Jan 2013, Synergy Pharma reported positive data from a
phase IIb/III study on its chronic idiopathic constipation (CIC)
candidate, plecanatide. The study met its primary objective along
with other key objectives.
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 will evaluate the average change in complete
spontaneous bowel movements (CSBMs) during the trial period in
comparison to their baseline weekly CSBM rate that was
established during the screening phase of the study.
Synergy Pharma also has SP-333 in its pipeline. The company
has completed a phase I study on the candidate, which is a
guanylate cyclase C (GC-C) agonist being developed for the
treatment of ulcerative colitis (UC) and other gastrointestinal
(GI) diseases. Synergy Pharma also initiated a phase I study on
SP-333 for the treatment of inflammatory bowel disease (IBD)
including ulcerative colitis (UC).
The company also successfully completed its acquisition of
Callisto Pharmaceuticals Inc. earlier this year.
Synergy Pharma currently carries a Zacks Rank #3 (Hold).
However, other biopharmaceutical stocks such as
Array BioPharma Inc.
) currently look more attractive. UCB and Athersys carry a Zacks
Rank #1 (Strong Buy), whereas Array carries a Zacks Rank #2
ARRAY BIOPHARMA (ARRY): Free Stock Analysis
ATHERSYS INC (ATHX): Free Stock Analysis
SYNERGY PHARMAC (SGYP): Free Stock Analysis
UCB SA (UCBJF): Get Free Report
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