Synergy Pharmaceuticals Inc fka SGYPQ

[Snackman]

Synergy Pharmaceuticals

On Friday, Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) had somewhat of a hiccup, but this was precipitated by a slow drop over the course of the week. The long and short of the matter is that the company has been in an open discussion with the FDA regarding the new drug application (NDA) for its chronic idiopathic constipation treatment, as well as for its irritable bowel syndrome with constipation (IBS-C) program.

In its update, Synergy decided to continue patient enrollment for its two ongoing Phase 3 clinical trials with plecanatide in IBS-C. The decision to continue enrollment comes after trial monitoring demonstrated a slower enrollment pace combined with an increase in the number of patients not meeting randomization criteria after the screening period prior to starting treatment.

Over the past week, the stock retreated 12%. Shares closed Friday at $3.61. The consensus price target is $9.90, and the 52-week range is $2.50 to $9.76.

By Chris Lange

http://247wallst.com/investing/2016/07/17/4-companies-that-destroyed-shareholders-last-week-5/