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Stock Market & Financial Investment News

News Breaks
August 15, 2014
10:32 EDTIRWD, DAR, MNST, CECO, EDU, JAH, ACM, AVB, TCKHigh option volume stocks
High option volume stocks: BXR IRWD ACM CECO TCK JAH MNST AVB EDU DAR
News For IRWD;ACM;CECO;TCK;JAH;MNST;AVB;EDU;DAR From The Last 14 Days
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June 26, 2015
10:26 EDTMNSTMonster Beverage calls active
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June 25, 2015
15:28 EDTTCKTeck Resources says cathode production suspended as ground movement probed
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07:39 EDTMNSTMonster Beverage legacy international sales can at least triple, says Stifel
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June 24, 2015
07:33 EDTACMHouse Transportation & Infrastructure Committee to hold a hearing
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June 22, 2015
17:29 EDTMNSTCoca-Cola reports 16.7% stake in Monster Beverage
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June 19, 2015
13:38 EDTACMOptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR
June 18, 2015
07:07 EDTCECOCareer Education transfers ownership of Brooks Institute to gphomestay
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June 17, 2015
11:28 EDTIRWDJPMorgan reiterates Overweight on Ironwood amid selloff
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11:27 EDTIRWDSynergy's plecanatide not yet a threat to Ironwood's Linzess, says BofA/Merrill
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10:44 EDTIRWDSynergy a potential takeover target after constipation drug data
The shares of Synergy Pharmaceuticals (SGYP) are rallying after the company announced that its chronic constipation treatment had met its primary endpoint in a Phase 3 clinical trial. Research firm Canaccord has previously identified Synergy as a potential takeover target and a Bloomberg report said the company had hired advisers to explor a potential sale. WHAT'S NEW: Synergy reported this morning that the 3 mg and 6 mg versions of its anti-constipation drug, plecanatide, had met their primary endpoint in a Phase III trial. Specifically, a statistically significant percentage of patients taking both versions of the drugs responded favorably, based on criteria that the FDA uses to determine approval of chronic constipation treatments, the company stated. Plecanatide was safe and well tolerated at both dose, and the results were positive, the company reported. "These results strengthen our belief that plecanatide has the potential to not only effectively treat constipation but with a durability and tolerability profile that is ideal for chronic use," said Synergy CEO Gary Jacob. "We look forward to the results of our second pivotal trial in the coming weeks," he added. WHAT'S NOTABLE: In a note to investors on May 22, Canaccord analyst Corey Davis initiated coverage of Synergy with a Buy rating. There is "a high likelihood" that data from the company's four Phase III trials due to be conducted over the next year will be positive and the company would be an attractive takeover target if its Phase III data is positive, Jacobs wrote. The analyst placed an $11 price target on the shares. Meanwhile, in March, Bloomberg reported that Synergy was talking to advisers about potentially selling the company after its competitor, Salix Pharmaceuticals, had agreed to be acquired by Valeant Pharmaceuticals (VRX). After the company reported the trial results today, its CEO told Bloomberg that "all options are on the table." IRONWOOD: The shares of Ironwood (IRWD), whose Linzess drug also treats chronic constipation, are falling today following Synergy's data readout. Canaccord's Davis had said that the diarrhea rate of patients taking Synergy's plecanatide had to come in at 10% or lower for the drug to achieve "best differentiation" versus Linzess. Patients taking the 3 mg dose of plecanatide had a diarrhea rate of 5.5%, while 5.9% of those taking the 6 mg dose experienced diarrhea, Synergy reported. Linzess is co-marketed by Ironwood and Forest Pharmaceuticals, a unit of Allergan (AGN). PRICE ACTION: In morning trading, Synergy surged 45% to $6.74, while Ironwood slid fractionally to $12.16.
09:25 EDTIRWDIronwood slips after Synergy announces data on constipation drug
Shares of Ironwood (IRWD) are lower in pre-market trading after Synergy Pharmaceuticals (SGYP) announced top-line results from the first of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses in adult patients with chronic idiopathic constipation. Plecanatide was safe and well tolerated at both doses, Synergy said, noting that the most common adverse event was diarrhea, which occurred in 5.9% of patients in 3.0 mg and 5.5% of patients in 6.0 mg dose groups. Ironwood’s competing Linzess drug had a 16% diarrhea rate for CIC patients, according to its FDA label. Linzess is co-marketed by Ironwood and Forest Pharmaceuticals, a unit of Allergan (AGN). Ironwood shares are down 45c, or 3.7%, to $11.75 in pre-market trading.

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