Synergy Pharmaceuticals (SGYP) announced that based on its ongoing dialogue with the FDA and the achievement of its mid-cycle review milestone, it expects lead product candidate plecanatide will be approved to treat chronic ideopathic constipation (CIC) by its January 29, 2017 PDUFA date. In addition, the company will continue patient enrollment in its two current Phase 3 clinical trials assessing plecanatide in irritable bowel syndrome with constipation (IBS-C). The decision was made after trial monitoring showed a slower enrollment pace and an increase in the number of patients not meeting randomization criteria after the screening period prior to starting treatment. SGYP shares have edged lower on extension of patient enrollment in IBS-C study. However, I believe the sell-off is a bit of an overreaction. The sharp pullback should be seen as a buying opportunity.