Synergy raises $56M in follow-on

Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) raised $56 million early Monday in a follow-on underwritten by Jefferies. The offering comprises 21.7 million shares and accompanying warrants to purchase an additional 21.7 million shares at a combined price of $2.58. The price is a 5% discount from Synergy's close of $2.72 on Friday.

An sNDA for the company's Trulance plecanatide is under FDA review to treat irritable bowel syndrome with constipation (IBS-C). Its PDUFA date is Jan. 24. The uroguanylin analog and guanylate cyclase C (GCC; GUCY2C) agonist is approved in the U.S. to treat chronic idiopathic constipation (CIC) (see BioCentury Extra, June 7)...