Synergy Pharma Shares Gain

Synergy Pharmaceuticals shares jumped after competitor Ardelyx (ARDX) reported this morning positive results from a study of tenapanor to treat irritable bowel syndrome with constipation.

Although the T3MPO-1 trial achieved statistical significance for the primary endpoint and seven of eight secondary endpoints, some investors focused on the only adverse events observed in more than 2% of patients treated with tenapanor, as compared with placebo. The first was diarrhea (14.6% vs 1.7%) and the second was nausea (2.6% vs 1.7%). Discontinuations due to diarrhea were 5.9% for the tenapanor-treated patients, compared to 0.6% for the placebo group, based on the preliminary results. Ardelyx shares plunged more than 38.5%. Shares of competitor Synergy Pharmaceuticals, which produces Trulance for constipation, rallied 11%.

By Standard Staff Contributor