On Friday, Synergy Pharmaceuticals Inc (NASDAQ:SGYP)’s shares inclined 4.14% to $7.55.
Synergy Pharmaceuticals Inc. (SGYP) a biopharmaceutical company focused on the development of novel treatments for gastrointestinal (GI) diseases and disorders, recently stated its financial results and business update for the three and six months ended June 30, 2015.
Second Quarter 2015 and Recent Highlights
Plecanatide
- On June 17, 2015, we declared positive top-line results from the first of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses (3.0 mg and 6.0 mg), taken as a tablet once-a-day, in 1,346 adult patients with CIC. Both doses of plecanatide met the study’s primary endpoint and demonstrated statistical significance in the proportion of patients who were durable overall responders contrast to placebo during the 12-week treatment period (21.0% in 3.0 mg and 19.5% in 6.0 mg dose groups contrast to 10.2% in placebo; p<0.001 for both doses). The durable overall responder endpoint is the current FDA endpoint required for U.S. approval in CIC. Stool comprising was the key secondary endpoint stated with top-line analyses; both plecanatide doses showed statistically noteworthy improvement from baseline in Bristol Stool Form Scale (BSFS) scores contrast to placebo (mean enhance of 1.53 in 3.0 mg and 1.52 in 6.0 mg dose groups contrast to a mean enhance of 0.77 in placebo; p<0.001 for both doses). The observed improvements began at Week 1, continued throughout the 12-week treatment period, and returned towards baseline with no indication of an exaggerated or rebound effect following discontinuation of treatment. The most common adverse event was diarrhea but overall rates were low and did not enhance with dose (5.9% in 3.0 mg and 5.5% in 6.0 mg dose groups contrast to 1.3% in placebo). Only 15 patients in the trial (1.1%) practiced serious adverse events but there was no imbalance across treatment groups in either incidences or individual serious adverse events. Overall, the rates of withdrawal from treatment because of an adverse event were low (5.1 % in 3.0 mg and 5.0% in 6.0 mg dose groups contrast to 1.3% in placebo) and discontinuations due to diarrhea were infrequent (2.7% in 3.0 mg and 2.4% in 6.0 mg dose groups contrast to 0.4% in placebo). No clinically relevant abnormalities were observed in serum chemistries, hematology, urinalysis, ECG or vital signs measurements.
Synergy Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development of drugs to treat gastrointestinal (GI) disorders and diseases. Its lead product candidate is plecanatide, a guanylyl cyclase C receptor agonist that is in Phase III clinical trials to treat chronic idiopathic constipation GI disorders; and for the treatment of constipation-predominant irritable bowel syndrome GI disorders.
Brookfield Asset Administration Inc (NYSE:BAM)’s shares gained 0.03% to $34.52.
GrafTech International Ltd. declared it has consummated the formerly declared sale of $150 million of preferred equity to an associate of Brookfield Asset Administration Inc. (BAM).
Under the terms of the investment agreement, GrafTech issued to Brookfield, in a private offering convertible preferred shares in two series, series A shares and series B shares. The series A shares are right away convertible into GrafTech common shares equal to about 19.9% of the presently outstanding shares of GrafTech common stock, at a conversion price of $5.00 per common share, subject to customary anti-dilution adjustments. The series B shares will become convertible into common shares equal to about 2% of the presently outstanding shares only upon approval by GrafTech stockholders in accordance with New York Stock Exchange requirements. If approved, the two series will be combined into one series.
Brookfield Asset Administration Inc. (Brookfield) is a global alternative asset manager. The Company owns and operates assets with a focus on property, renewable energy, infrastructure and private equity. The Company operates in eight segments: Asset Administration, property, renewable energy, infrastructure, private equity, residential development, service activities and corporate activities. Brookfield manages a range of investment funds and other entities that enable institutional and retail clients to invest in these assets.
At the end of Friday’s trade, Xilinx, Inc. (NASDAQ:XLNX)‘s shares surged 0.70% to $43.45.
Xilinx, Inc. (XLNX) declared its Low-Density Parity-Check (LDPC) error correction IP fundamental to enabling next generation Flash-based applications for the cloud and data center storage market. As NAND Flash continues to advance with 3D NAND technologies, LDPC error correction is a critical core function for meeting the stringent reliability and endurance requirements of recently’s storage solutions. Xilinx’s LDPC IP solution features best-in-class code performance near Shannon limit, achieves very low error floor, and supports both hard and soft decision decoding. The architecture is scalable and future proof to support various next-generation non-volatile memory devices and offers the high throughput and low latency required for the most demanding storage applications. This solution requires 50% less logic as compared to alternate solutions and is Xilinx® FPGA optimized for smaller area and power.
Xilinx, Inc. designs and develops programmable devices and associated technologies worldwide. Its programmable devices comprise integrated circuits (ICs) in the form of programmable logic devices (PLDs), such as programmable system on chips, and three dimensional ICs; software design tools to program the PLDs; targeted reference designs; printed circuit boards; and intellectual property (IP), which comprises of Xilinx and various third-party verification and IP cores.
United Continental Holdings Inc (NYSE:UAL), ended its Friday’s trading session with 0.33% gain, and closed at $58.54.
United Airlines (UAL) declared that Gerald (Gerry) Laderman has been named acting chief financial officer. He succeeds John Rainey, who has resigned to become chief financial officer at PayPal Holdings, Inc.
Laderman, who has held legal and financial positions of increasing responsibility at the company for 27 years, will be responsible for the overall financial operations of the company, counting corporate finance, treasury, financial planning and analysis, tax, accounting, investor relations, fleet, procurement, internal audit and risk administration.
Laderman most has been senior vice president of finance, procurement and treasurer. While in this role, Laderman has done groundbreaking work in aircraft financing, counting leading the development of innovative debt structures, which have significantly lowered the cost of capital for the airline. Laderman has also led initiatives to maintain financial stability for the company during the turbulent times the airline industry has faced in the past.
United Continental Holdings, Inc., together with its auxiliaries, provides air transportation services in North America, the Asia-Pacific, Europe, the Middle East, Africa, and Latin America. It transports people and cargo through its mainline operations, which use jet aircraft with at least 118 seats, and its regional operations.
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