Synergy raises $89.9M in direct offering

Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) raised $89.8 million through the sale of 29.9 million shares to institutional investors at $3 in a registered direct offering.

FDA is reviewing Synergy's plecanatide ( SP-304), a uroguanylin analog and guanylate cyclase C ( GCC; GUCY2C) agonist, to treat chronic idiopathic constipation. Its PDUFA date is Jan. 29, 2017 (see BioCentury Extra, April 19). ...