Synergy Pharmaceuticals Inc.; Nasdaq: SGYP
Shares of Synergy Pharmaceuticals Inc jumped more than 20% today in heavy trading. The New York City-based biotechnology firm trades on the Nasdaq under the ticker symbol SGYP. SGYP ended Thursday’s trading session at $4.74 and closed today up over 21% at $5.77.
Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) today announced on December 22, 2016 (after market close) that positive top-line results from the second of two pivotal phase 3 clinical trials evaluating the efficacy and safety of plecanatide, an investigational once-daily orally-administered compound, in 1,054 adult patients with irritable bowel syndrome with constipation (IBS-C).
Preliminary analysis of the data indicates that both plecanatide 3 mg and 6 mg doses met the study’s primary endpoint and showed statistical significance in the percentage of patients who were Overall Responders compared to placebo during the 12-week treatment period
Synergy Pharmaceuticals has pioneered discovery, research and development efforts around analogs of uroguanylin, a naturally occurring human GI peptide, for the treatment of GI diseases and disorders. Synergy Parmaceuticals has research, technical operations, and commercial offices in suburban Philadelphia. They have discovered, are developing, and control 100% worldwide rights to our proprietary uroguanylin analog platform that includes two lead product candidates – plecanatide and dolcanatide.
Plecanatide is their first uroguanylin analog currently being evaluated for use as a once-daily tablet for chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). Dolcanatide is their second uroguanylin analog currently being explored for ulcerative colitis.
Synergy Pharmaceuticals is covered by two firms and both give SGYP a “Strong Buy” rating. However the biotech company has yet to announce any revenues and has had negative EPS since it was listed on the Nasdaq in 2008.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 4:00 PM EST||$ 5.77|
|Average Volume||3.05 million|
|Market Cap||$852.2 million|
|Shares Outstanding||179.8 million|
|Share Float||172.1 million|
|Short Interest Ratio||7.78|