DGAP-News: Synergy Pharmaceuticals Added to NASDAQ Biotechnology Index
(firmenpresse) - Synergy Pharmaceuticals
14.05.2013 14:54
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NEW YORK, 2013-05-14 14:53 CEST (GLOBE NEWSWIRE) --
Synergy Pharmaceuticals Inc. (Nasdaq:SGYP), a developer of new drugs to treat
gastrointestinal disorders and diseases, today announced that it has been
selected for addition to the NASDAQ Biotechnology Index (r) (Nasdaq:^NBI),
effective prior to the market open on Monday, May 20.
The NASDAQ Biotechnology Index is designed to track the performance of a set of
NASDAQ-listed securities classified according to the Industry Classification
Benchmark (ICB) as either Biotechnology or Pharmaceuticals. These companies
must meet eligibility criteria that include a minimum market capitalization of
$200 million and minimum average daily trading volume of 100,000 shares,
amongst other requirements. The Index Securities are evaluated semi-annually
in May and November and serve as the basis for the iShares NASDAQ Biotechnology
Index Fund (Amex:IBB). For more information about the NASDAQ Biotechnology
Index, including eligibility criteria, visit www.nasdaq.com.
About Synergy Pharmaceuticals Inc.
Synergy is a biopharmaceutical company focused on the development of new drugs
to treat gastrointestinal disorders and diseases. Synergy's lead proprietary
drug candidate, plecanatide, is a synthetic analog of the human
gastrointestinal hormone uroguanylin, and functions by activating the guanylate
cyclase C receptor on epithelial cells of the GI tract. Synergy completed a
positive Phase I study of plecanatide in healthy volunteers, and positive Phase
IIa and Phase IIb/III clinical trials in patients with chronic idiopathic
constipation (CIC). Detailed positive findings from the recently completed 951
patient Phase IIb/III CIC clinical trial will be presented at a major
scientific meeting this year. Synergy is also developing plecanatide for the
treatment of irritable bowel syndrome with constipation (IBS-C), having
initiated a Phase IIb trial in IBS-C patients in late 2012. Synergy's second
GC-C agonist, SP-333, is in clinical development to treat inflammatory bowel
diseases, and is currently in a Phase Ib trial in healthy volunteers having
recently completed a Phase Ia trial.
Certain statements in this press release are forward-looking within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements may
be identified by the use of forward-looking words such as 'plan,' 'expect,'
'anticipate,' 'believe,' 'forecast,' 'estimated' and 'intend,' among others.
These forward-looking statements are based on Synergy's current expectations
and actual results could differ materially. These statements include, but are
not limited to, statements regarding our expectations regarding clinical
trials, the timing of clinical results, development timelines and regulatory
filings and submissions for our product candidates, our current Phase 2b 90-day
clinical trial of plecanatide in IBS-C patients, our current Phase 1b clinical
trial of SP-333, our intention to initiate a Phase 1 clinical trial of SP-333
for the treatment of ulcerative colitis during the second half of 2012, our
liquidity and our expectations regarding our needs for and ability to raise
additional capital and the amount, and our expected uses, of the net proceeds
of this offering. Synergy does not undertake an obligation to update or revise
any forward-looking statement. These forward-looking statements are based on
our current expectations and projections about future events and they are
subject to risks and uncertainties known and unknown to us that could cause
actual results and developments to differ materially from those expressed or
implied in such statements, including the risks described under 'Risk Factors'
in our Annual Report on Form 10-K for the year ended December 31, 2012 and
other periodic reports filed with the Securities and Exchange Commission.
CONTACT: Investor Contact:
Danielle Spangler
The Trout Group
dspangler(at)troutgroup.com
(646) 378-2924
Media Contact:
Janet Skidmore
Mobile : 215-429-2917
Office: 215-658-4915
skidmorecomm(at)earthlink.net
News Source: NASDAQ OMX
14.05.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Synergy Pharmaceuticals
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US8716393082
WKN:
End of Announcement DGAP News-Service
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Datum: 14.05.2013 - 14:54 Uhr
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News-ID 259737
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