Synergy Pharmaceuticals: At Last A Glimmer Of Hope?
Jun. 18, 2018 11:22 AM ET|
John Engle
Summary
On June 12, Synergy Pharmaceuticals held its annual shareholder meeting.
Shareholders voted against the current board; they also voted down several proposals, including one to increase executive compensation and another that would have increased the number of authorized shares.
A day after the meeting, Synergy announced an amendment to its private loan agreement that signals a change of strategic direction toward partnership or acquisition.
With Synergy’s current strategy repudiated by shareholders, management will face increasing pressure to change direction.
The worst may, at last, be over for this beleaguered biotech.
Opti
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