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Stock Market & Financial Investment News

News For SGYP;PRXL From The Last 14 Days
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June 23, 2015
10:30 EDTSGYPOptions with decreasing implied volatility
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09:14 EDTSGYPOn The Fly: Pre-market Movers
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06:36 EDTSGYPSynergy Pharmaceuticals volatility elevated
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06:02 EDTSGYPSynergy Pharma begins second of two Phase 3 clinical trials of plecanatide
Synergy Pharmaceuticals announced the initiation of the second of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses, taken as a tablet once-a-day, in patients with irritable bowel syndrome with constipation, or IBS-C. The phase 3 IBS-C program includes two randomized, 12-week, double-blind, placebo-controlled pivotal trials conducted in the U.S. and each trial is expected to enroll approximately 1050 adult patients with IBS-C.
June 22, 2015
15:41 EDTSGYPSynergy Pharmaceuticals volatility elevated on sharp rally
Synergy Pharmaceuticals July is at 134, October is at 95; compared to its 52-week range of 72 to 158; suggesting large near term price move movement.
10:21 EDTSGYPOptions with decreasing implied volatility
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June 19, 2015
15:53 EDTPRXLPAREXEL to host investor day
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June 18, 2015
10:33 EDTSGYPOptions with decreasing implied volatility
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10:09 EDTSGYPHigh option volume stocks
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09:06 EDTSGYPSynergy Pharmaceuticals price target raised to $19 form $11 at Canaccord
Canaccord raised its price target on Synergy Pharmaceuticals to $19 from $11 following positive top-line results from its Phase 3 trial for plecanatide in chronic idiopathic constipation. The firm cited a de-risking of the drug and its approval potential and valuation. Canaccord reiterated its Buy rating on Synergy Pharmaceuticals shares.
June 17, 2015
17:19 EDTSGYPOn The Fly: Top stock stories for Wednesday
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11:41 EDTSGYPSynergy an 'attractive takeout target' after data, says Cantor
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11:28 EDTSGYPJPMorgan reiterates Overweight on Ironwood amid selloff
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11:27 EDTSGYPSynergy's plecanatide not yet a threat to Ironwood's Linzess, says BofA/Merrill
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10:44 EDTSGYPSynergy 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.
10:19 EDTSGYPHigh option volume stocks
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09:25 EDTSGYPIronwood 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.
09:17 EDTSGYPOn The Fly: Pre-market Movers
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08:14 EDTSGYPSynergy CEO says 'all options are open' following Phase 3 data
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, Synergy CEO Gary Jacobs reportedly told Bloomberg in a phone interview that “all options are open at this point" as the company seeks to maximize the value of the asset. Jacobs added that newly reported data topped expectations, especially on tolerability, and that the company has “high confidence” that its second phase 3 trial data will be positive as well. In March, Bloomberg reported that Synergy was talking to advisers about a potential sale of the company after its competitor, Salix Pharmaceuticals, had agreed to be acquired by Valeant Pharmaceuticals (VRX). In pre-market trading, Synergy shares rose $2.46, or 53%, to $7.10.
06:03 EDTSGYPSynergy Pharma announces positive results in Phase 3 trial of plecanatide
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