FDA OKs Synergy's plecanatide for CIC; shares down 5% after hours
Jan. 19, 2017 4:29 PM ET|About: Synergy Pharmaceutical... (SGYP)|By: Douglas W. House, SA News Editor
Synergy Pharmaceuticals (NASDAQ:SGYP) is off 5% after hours on robust volume in a hefty "sell on the news" response to the FDA approval of plecanatide, branded as Trulance, for the treatment of adult patients with chronic ideopathic constipation (CIC). The PDUFA date was January 29.
Plecanatide is the first investigational therapy designed to replicate the activity of uroguanylin, a naturally occurring human gastrointestinal peptide, by working locally in the proximal small intestine to stimulate digestive fluid movement and support regular bowel function.
The company plans to file a supplemental New Drug Application (sNDA) this quarter for irritable bowel syndrome with constipation (IBS-C).
Now read: What To Make Of Synergy Pharmaceuticals With Key PDUFA Date Approaching »
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