Synergy Pharmaceuticals (Nasdaq: SGYP) Announces Share Offering and Price Drops

Synergy Pharmaceuticals, Inc. – Nasdaq: SGYP

Synergy Pharmaceuticals has announced that it will sell $125 million of common stock. News of the dilution sent shares down over 12% in after-hours trading on heavy volumes. SGYP, traded on the Nasdaq, ended the regular session at $7.07, but in the after-hours market shares went as low as $6.00 before settling at $6.20.

Synergy is a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal therapies. Synergy 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 intends to use the net proceeds from the offering to fund its commercialization activities related to Trulance. Synergy discovered, is developing and controls 100% worldwide rights to Trulance.

In 2011 Synergy Pharmaceuticals had $47.6 million shares outstanding and that figure has increased every year since then. Currently there are 105.57 million shares outstanding. EPS for SGYP have been negative at an increasing rate since 2011 when the EPS loss was $0.30, and in 2015 SGYP lost $1.11 EPS. Synergy has no reported sales but all three firms that follow Synergy rate SGYP shares as a “Strong Buy”. The consensus price target for SGYP is $10.50.

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.

1/31/2017
Ticker Symbol SGYP
Last Price a/o 7:59 PM EST  $                      6.20
Average Volume                5,630,000
Market Cap (mlns)  $                      1.27
Sales (mlns)
Shares Outstanding (mlns) 179.95
Share Float (mlns) 172.08
Shortable Yes
Optionable Yes
Inside Ownership 7.01%
Short Float 15.91%
Short Interest Ratio 4.86
Quarterly Return 48.53%
YTD Return 16.09%
Year Return 87.53%

Ocular Therapeutix, Inc (Nasdaq: OCUL) Shares up in Pre-Market on Phase 3 Results

OcularTherapeutix, Inc. – Nasdaq: OCUL

Bedford, MA-based Ocular Therapeutix, Inc. shares are up over 8% in pre-market trading. Traded on the Nasdaq under ticker OCUL, the shares are benefitting from positive news that additional positive secondary endpoint results were reached from its most recent successful phase 3 clinical trial of Dextenza™ (dexamethasone insert) 0.4 mg, for the treatment of post-surgical ocular inflammation and pain.

Dextenza is a product candidate administered by a physician as a bioresorbable intracanalicular insert and designed to release drug to the ocular surface for up to 30 days. Dextenza successfully met the trial’s two primary efficacy endpoints, absence of ocular pain on day 8 and absence of ocular inflammation on day 14 when compared to placebo. In this Phase 3 clinical trial, for which the complete safety assessment will be available in the first quarter of 2017, no treatment-related serious adverse events were observed. Dextenza has exhibited a favorable safety profile and has been well tolerated in all clinical trials, regardless of indication.

“The positive results for the secondary endpoint of absence of ocular flare build upon the successful topline results from this trial which we announced last month,” said Jonathan H. Talamo, M.D., Chief Medical Officer of Ocular Therapeutix.

Ocular Therapeutix, Inc. (NASDAQ: OCUL) is a biopharmaceutical company focused on the development and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary hydrogel platform technology. Ocular Therapeutix plans to resubmit an NDA in the first quarter of 2017 for post-surgical pain for its lead product candidate, Dextenza™.

OCUL shares had an EPS loss of $2.69 in 2014 and a loss of $1.71 in 2015. Sales were $0.8 million in 2014 and $1.8 million in 2015. Four firms follow Ocular Therapeutix, Inc. Two give OCUL shares a “Strong Buy” rating and Two give OCUL a rating of “Buy”. Consensus price tagrte is $26.50.

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.

1/4/17
Ticker Symbol OCUL
Last Price a/o 8:37 AM EST $9.09
Average Volume 1.06 million
Market Cap $206 milion
Sales 1.8 million
Shares Outstanding 24.76 million
Share Float 21.79 million
Shortable Yes
Optionable Yes
Inside Ownership 2.70%
Short Float 23.45%
Short Interest Ratio 4.83
Quarterly Return 21.46%
YTD Return -0.60%
Year Return -6.52%

CymaBay Therapeutics Inc (Nasdaq: CBAY) Inks Licensing Deal with Kowa

CymaBay Therapeutics, Inc. – Nasdaq: CBAY

Shares of California-based CymaBay Therapeutics, Inc. are rocketing in pre-market trading. Traded on the Nasdaq under ticker symbol CBAY, the shares closed Tuesday at $1.90. In today’s pre-market trading CBAY has hit $3.00 on very heavy volumes.

Investors appear to be reacting to news that CymaBay has entered into a licensing deal with Kowa Pharmaceuticals for development and commercialization of CymaBay’s drug Arhalofenate – an oral, once-daily dual-acting drug candidate for the treatment of gout. Arhalofenate has been licensed to Kowa Pharmaceuticals America, Inc. for the U.S.A. market only – CymaBay Pharmaceuticals retains full development and commercialization rights for arhalofenate outside the U.S.A.

Under the terms of the agreement, CymaBay will receive up to $15 million in upfront and near-term milestone payments and is eligible to receive up to an additional $190 million in payments based upon the achievement of specific development, regulatory and sales milestones.  CymaBay is also eligible to receive tiered, double digit royalties on future sales of arhalofenate products.  Kowa will be responsible for all development and commercialization costs.

Harold Van Wart, Ph.D., President and CEO of CymaBay commented on the deal “We are extremely pleased to enter into this agreement with Kowa to develop and market arhalofenate in the U.S. Kowa has proven development capabilities as well as the resources to carry out a large Phase 3 development program. They also have an established primary care sales force to market arhalofenate products. As arhalofenate is a potential novel therapy for gout, a disease most often treated by primary care physicians, it is a very good fit with Kowa’s established strength in this area…”

Three firms cover CymaBay Pharmaceuticals Inc. Two analysts give CBAY a “”Strong Buy” rating while one rates CBAY as a “Hold”. Their consensus price target is $5.00.

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.

1/4/17
Ticker Symbol CBAY
Last Price a/o 8:00 AM EST $2.77
Average Volume 88,500
Market Cap $45 million
Sales
Shares Outstanding 23.7 million
Share Float 23.13 million
Shortable Yes
Optionable No
Inside Ownership 0.10%
Short Float 1.29%
Short Interest Ratio 3.36
Quarterly Return -0.52%
YTD Return 9.83%
Year Return 4.40%

Synergy Pharmaceutical Inc. (Nasdaq: SGYP) Soars on Positive Results

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.

12/23/2016
Ticker Symbol SGYP
Last Price a/o 4:00 PM EST  $               5.77
Average Volume 3.05 million
Market Cap $852.2 million
Sales
Shares Outstanding 179.8 million
Share Float 172.1 million
Shortable Yes
Optionable Yes
Inside Ownership 7.01%
Short Float 13.77%
Short Interest Ratio 7.78
Quarterly Return -15.50%
YTD Return -16.40%
Year Return -18.13%

Synergy Pharmaceuticals (Nasdaq: SGYP) Gets Good News

Big Volume on Synergy Pharmaceuticals Inc. – Nasdaq ticker: SGYP

Synergy Pharmaceuticals Inc said, according to preliminary data analysis, its experimental once-daily pill, Plecanatide, showed positive results in a late-stage study on irritable bowel syndrome patients. The company plans to apply to market the drug in 2017. Pre-market trading in SGYP saw the shares reach over $6.50 and have now settled back to yesterday’s trading levels.

Based in New York City, Synergy Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies.

Gary S. Jacob, Ph.D., Chairman and CEO of Synergy Pharmaceuticals Inc. said “We are very pleased with these results. These data reinforce our strong belief that Plecanatide may represent an important new treatment option for the millions of patients currently suffering from IBS-C. We look forward to the results of our second phase 3 IBS-C trial with Plecanatide later this month.”

Volumes on SGYP surged on the news – doubling the average daily volume less than an hour after the Nasdaq opened for trading. In November Synergy Pharmaceuticals presented a corporate update at the Jeffries London Healthcare conference. Shares moved significantly higher after that presentation on good volumes. Three analysts cover SGYP and all give the stock a “Buy” rating with price targets ranging from $7 to $15.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol SGYP
Last Price 12/9/2016 10:00 EST  $               5.71
Average Volume 2.9 million
Market Cap $961 million
Sales
Shares Outstanding 173.5 million
Share Float 172 million
Shortable Yes
Optionable Yes
Inside Ownership 7.00%
Short Float 16.20%
Short Interest Ratio 9.72
Quarterly Return 13.52%
YTD Return -2.30%
Year Return -9.00%