Synergy Pharmaceuticals Inc ($SGYP) stock is trading 4.87% up on the news of its experimental Irritable Bowel Syndrome drug. The company reported that according to an analysis of preliminary data., the treatment met the main goal of a late-stage study on irritable bowel syndrome patients with constipation (IBS-C).
Its two doses outperformed a placebo in patients who were overall responders. The company is expected to report Data on a second late-stage IBS-C study later this month. Synergy Pharmaceuticals plans to submit an application to market the drug for IBS-C patients in 2017.
The company had presented long-term safety data for these treatments earlier this year in October. The positive results will boost the future prospects of the company in gaining foothold in ISB-C market. It is believed that about 4 to 5 percent of American adults suffer from IBS-C, which may manifest itself in three different subtypes.
Synergy Pharmaceuticals’ nearest rival is Ironwood ($IRWD). While Ironwood has substantially higher market capitalization, its offering lacks the safety factor of Synergy Pharmaceuticals’ drug. Ironwood’s linaclotide based drug is about four times more likely to cause diarrhea than plecanatide based treatment.
The stock is currently trading at $5.81 as it hits its 52 weeks high of $6.29 earlier in the session.