Synergy Pharmaceuticals Inc (NASDAQ:SGYP) presented new in vitro data at Digestive Disease Week (DDW) showing plecanatide, an investigational compound being evaluated for chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C), replicated the pH-dependent activity of the body’s naturally occurring gastrointestinal (GI) peptide – uroguanylin. Uroguanylin plays an important role in supporting regular bowel function through its activation of the intestinal guanylate cyclase C (GC-C) receptor.
In vitro data presented today at DDW show that plecanatide, like uroguanylin, activates the GC-C receptor in a pH-dependent manner, and this may contribute to more frequent, well-formed bowel movements. While the under-secretion of fluid can cause constipation, the over-secretion of fluid can result in diarrhea. The balance of fluid secretion in the gut is normally achieved by a controlled – and pH-dependent – activation of the GC-C receptor by uroguanylin.
“A need still exists for additional safe and convenient therapeutic options,” said Kunwar Shailubhai, PhD, MBA, Chief Scientific Officer of Synergy Pharmaceuticals. “We designed plecanatide to act in the same pH-dependent manner as uroguanylin because we believe that this characteristic is an important natural attribute for controlling fluid balance in the gut and promoting regular bowel function.”
Earlier this week at DDW, Synergy presented phase 3 clinical data from two trials that evaluated the efficacy and safety of plecanatide treatment in patients with CIC. In both trials, plecanatide significantly improved chronic constipation and abdominal symptoms, such as straining and bloating, and plecanatide-treated patients showed significant improvement in stool consistency, constipation severity and treatment satisfaction scores compared to placebo. Most adverse events were mild to moderate in severity; the most common adverse event was diarrhea (5.9% in 3 mg and 5.7% in 6 mg dose groups compared to 1.3% in the placebo group for Study-00 and 3.2% in 3 mg and 4.5% in 6 mg dose groups compared to 1.3% in the placebo group in Study-03). (Original Source)
Shares of Synergy Pharmaceuticals are currently trading at $3.46, up $0.02 or 0.68%. SGYP has a 1-year high of $10.15 and a 1-year low of $2.50. The stock’s 50-day moving average is $3.15 and its 200-day moving average is $4.16.
On the ratings front, SGYP has been the subject of a number of recent research reports. In a report released yesterday, Rodman & Renshaw analyst Ram Selvaraju reiterated a Buy rating on SGYP, with a price target of $15, which implies an upside of 324.9% from current levels. Separately, on May 22, Canaccord Genuity’s John Newman reiterated a Buy rating on the stock and has a price target of $13.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ram Selvaraju and John Newman have a total average return of -0.1% and -20.4% respectively. Selvaraju has a success rate of 40.9% and is ranked #2480 out of 3842 analysts, while Newman has a success rate of 20.9% and is ranked #3840.
Synergy Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development and commercialization of novel gastrointestinal (GI) therapies. Its product includes plecanatide and dolcanatide. The company was founded by Kunwar Shailubhai on November 15, 2005 and is headquartered in New York, NY.