On Wednesday, Shares of Synergy Pharmaceuticals, Inc. (NASDAQ:SGYP), skyrocketed 67.67% to $7.78, hitting its highest level.
Synergy Pharmaceuticals, 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 chronic idiopathic constipation (CIC).
Preliminary analysis of the data indicates that both plecanatide 3.0 mg and 6.0 mg doses met the study’s primary endpoint and demonstrated statistical significance in the proportion of patients in the intention-to-treat population 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 US approval in CIC. Plecanatide would be the first drug approved for CIC using the more stringent regulatory requirement for durability in the response. Notably, plecanatide was safe and well tolerated at both doses; the most common adverse event was diarrhea, which occurred in 5.9% of patients in 3.0 mg and 5.5% of patients in 6.0 mg dose groups contrast to 1.3% of placebo-treated patients.
“We are very happy with these results and how well they confirm earlier plecanatide data observed in the phase 2b/3 trial,” said Gary S. Jacob, Ph.D., Chairman and CEO of Synergy. “These results strengthen our belief that plecanatide has the potential to not only effectively treat constipation but with a durability and tolerability profile that is ideal for chronic use. We look forward to the results of our second pivotal trial in the coming weeks.”
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.
Shares of Southwestern Energy Co. (NYSE:SWN), declined -1.18% to $23.41, during its last trading session, as oil prices in New York dipped on Wednesday, following a mixed US petroleum supply report that showed lower crude supplies but a rise in gasoline stocks.
Light, sweet crude for July ended the day down 5 cents, or 0.1%, at $59.92 a barrel on the New York Mercantile Exchange, after ranging more than 4% between intraday highs and lows contrast with Tuesday’s settlement, according to WSJ.
Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas and oil in the United States. The company operates in two segments, Exploration, Development and Production; and Midstream Services.
Finally, Tesla Motors, Inc. (NASDAQ:TSLA), ended its last trade with 2.88% gain, and closed at $260.41.
Tesla Motors, has reached an exclusive partnership with Jeff Dahn, a pioneering developer of the lithium-ion battery, as the electric car company looks to lower battery costs, according to a Dow Jones report. Financial terms of the partnership were not accessible, but Tesla said it will sponsor Dahn’s research efforts in turn for his assist in reducing battery costs, the DJ report said. Jeff Dahn, head of the Jeff Dahn Research Group, is a professor of physics and chemistry at Dalhousie University in Halifax, Canada, and has been a consultant for companies counting 3M Co., Intel Corp., and Rayovac and Medtronic PLC, according to MarketWatch.
Tesla Motors Inc, is ramping up its Supercharger network in the Australian market, as the electric vehicle (EV) and energy-innovation company has started rolling out “Destination Charging” stations in major regional centers and cities, CNET reports.
The forthcoming Destination Charging locations will be distributed up the east coast, connecting the dots between Melbourne and Sydney with a Supercharger in Canberra, and covering north up to the Port Macquarie and Hunter Valley.
The Port Macquarie is considered to be a key location for Tesla, which is also joining hands with a public vehicle park company, Secure Parking, to unveil the stations in central Brisbane. Furthermore, more stations will be launched at Secure Parking locations in Melbourne and Sydney.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
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