Synergy Pharmaceuticals Inc is talking to advisers about options including the sale of the company, Bloomberg reported, citing sources. The company's stock was up about 10 percent at $4.21 following the report on Thursday.The gastrointestinal drug developer, which had a market value of about $370 million on Wednesday, is exploring a sale after competitor Salix Pharmaceuticals Ltd agreed to be bought earlier in March, the report said. (bloom.bg/1M4Clcg)Synergy spokeswoman Gem Gokmen said the company does not comment on rumors.Synergy's lead experimental drug, plecanatide, is undergoing development to treat irritable bowel syndrome and chronic idiopathic constipation (CIC).
Synergy Pharmaceuticals Inc., (Synergy) is a biopharmaceutical company focused on the development of drugs to treat gastrointestinal (GI), disorders and diseases. Shares of SGYP traded higher by 10.34% or $0.395/share to $4.22. In the past year, the shares have traded as low as $2.45 and as high as $5.52. On average, 1247070 shares of SGYP exchange hands on a given day and today's volume is recorded at 3000836.
Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company engaged in the prevention and treatment of gastrointestinal (GI) disorders. Shares of SLXP traded higher by 0.03% or $0.05/share to $172.60. In the past year, the shares have traded as low as $86.00 and as high as $172.98. On average, 3324430 shares of SLXP exchange hands on a given day and today's volume is recorded at 256231.