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Synergy Pharmaceuticals nets $89.7mm via RDO

Executive Summary

Gastrointestinal therapeutics developer Synergy Pharmaceuticals Inc. netted $89.7mm through the registered direct offering of 29.9mm common shares priced at $3 (a 12% discount) to certain institutional investors. The company will use the funds to commercialize plecanatide for chronic idiopathic constipation, and develop plecanatide for irritable bowel syndrome (Phase III) and dolcanatide for opioid-induced constipation (Phase II) and ulcerative colitis (Phase I).
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Private Investment in Public Biotech

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