Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals is having a strong day in the market today. However, what we’re seeing at the moment is likely the tip of the iceberg compared to what we’re going to see next month. The reason for the gains is simple. The company has scheduled the presentation of data on plecanatide. Today, we’ll talk about the news, why it’s likely to lead to big gains next month, what we’re seeing from the stock today, and what I’m expecting to see from SGYP moving forward.
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SGYP To Present New Plecanatide Data
Synergy Pharmaceuticals recently announced that it would be releasing new data with regard to plecanatide on Monday, October 17th. The data is going to be the long-awaited data from two Phase 3 clinical trials looking into plecanatide as a treatment for chronic idiopathic constipation.
The data from the clinical trials will be presented at the American College of Gastroenterology annual scientific meeting. The meeting will be held at The Venetian in Las Vegas from October 14th through October 19th. If you would like to attend the event, the presentation will take place in Hall C on Monday October 17th from 10:30 am to 4:00 pm.
Why This Is Likely To Lead To Massive Movement In The Market Next Month
As we move closer and closer to the presentation, investors are likely to become more and more excited. After all, SGYP is currently a clinical stage biotechnology company. However, this year has been a pivotal one with regard to plecanatide, and the company is now on the verge of bringing its first product to the market. In fact, we’re waiting on the FDA’s approval of plecanatide as a treatment in the IBS-C indication, which should be coming down the line in January.
Now, with the timely completion of the 2 Phase 3 trials of the treatment for the CIC indication and the release happening quickly, everything seems to suggest more positive news. If the primary endpoints of these trials are met, and I expect that they will be, plecanatide will be on its way to its second NDA. Ultimately, SGYP is evolving in a big way, and each step in this evolution is likely to lead to massive gains in the value of the stock.
What We’re Seeing From The Stock Today
As investors, one of the first things that we learn is that the news moves the market. In the case of Synergy Pharmaceuticals, the news released surrounding the stock was overwhelmingly positive. As a result, investors are excited and we’re seeing gains. Currently (1:09), SGYP is trading at $5.54 per share after a gain of $0.23 per share (4.33%) thus far today.
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What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from Synergy Pharmaceuticals. As mentioned above, the year 2016 has been a pivotal one. With plecanatide, the company has already submitted its first NDA with the United States FDA. Now, data is going to be released soon that could lead to yet another NDA. Considering the venue at which the company plans to release the data and the speed of the data delivery, I’m expecting it to be positive. All in all, things are looking great for SGYP and I’m expecting to see massive gains ahead.
[Image Courtesy of Wikipedia]