Synergy Pharmaceuticals Soars on Constipation Drug Data - Analyst Blog
Synergy Pharmaceuticals Inc. SGYP soared 67.7% after the company announced encouraging top-line results from the first of two pivotal phase III studies on its lead pipeline candidate, plecanatide, in adults suffering from chronic idiopathic constipation (CIC).
The randomized, 12-week, double-blind, placebo-controlled pivotal phase III study was evaluating the efficacy and safety of two plecanatide doses, 3.0 mg and 6.0 mg, taken as a once-daily tablet, in patients with CIC.
As per preliminary analysis of the data, the study met the primary endpoint with both doses of plecanatide (21.0% in 3.0 mg and 19.5% in 6.0 mg) demonstrating statistical significance in the proportion of patients in the intention-to-treat population who were durable overall responders compared to placebo (10.2%) during the 12-week treatment period. Plecanatide was safe and well tolerated at both doses.
The company plans to announce top-line data from the second phase III CIC study on plecanatide in the earlier part of the third quarter this year. Based on data from the phase III CIC program, the company plans to file its first new drug application with plecanatide in the CIC indication in the fourth quarter.
Synergy Pharmaceuticals carries a Zacks Rank #2 (Buy). Some of the other well-ranked stocks in the health care sector include Actelion Ltd. ALIOF, Valeant Pharmaceuticals International, Inc. VRX and Gilead Sciences Inc. GILD. All three sport a Zacks Rank #1 (Strong Buy).
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