Synergy Pharmaceuticals Added to the MSCI Global Small Cap Indices
NEW YORK, May 30, 2013 (GLOBE NEWSWIRE) -- Synergy Pharmaceuticals Inc.
(Nasdaq:SGYP), a developer of new drugs to treat gastrointestinal disorders
and diseases, today announced that it has been upgraded to the MSCI Global
Small Cap Indices and deleted from the MSCI Global Micro Cap Indices,
effective prior to the market open on Friday, May 31, 2013.
The MSCI Global Small Cap Indices is designed to provide an exhaustive
representation of the small cap size segment. The indices target companies
that are in the Investable Market Index (IMI) but are not in the Standard
Index in each market. The indices cover 24 Developed Markets, 21 Emerging
Markets and 26 Frontier Markets.
"We are delighted that Synergy Pharmaceuticals has been upgraded to the MSCI
Global Small Cap Indices, as it provides greater visibility for Synergy, and
potentially will lead to increased liquidity and a broader stockholder base,"
stated Gary S. Jacob, Ph.D., Chief Executive Officer of Synergy
About Synergy Pharmaceuticals, Inc.
Synergy is a biopharmaceutical company focused on the development of new drugs
to treat gastrointestinal disorders and diseases. Synergy's lead proprietary
drug candidate, plecanatide, is a synthetic analog of the human
gastrointestinal hormone uroguanylin, and functions by activating the
guanylate cyclase-C (GC-C) receptor on epithelial cells of the GI tract.
Synergy completed a positive Phase I study of plecanatide in healthy
volunteers, and positive Phase IIa and large multicenter clinical trial in
patients with chronic idiopathic constipation (CIC). Synergy is also
developing plecanatide for the treatment of constipation-predominant irritable
bowel syndrome (IBS-C), having initiated the first trial in IBS-C patients in
late 2012. Synergy's second GC-C agonist, SP-333, is in clinical development
to treat inflammatory bowel diseases, and has recently completed its first
Phase I trial in healthy volunteers. More information is available at
Certain statements in this press release are forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements may be identified by the use of forward- looking words such as
"anticipate," "planned," "believe," "forecast," "estimated," "expected," and
"intend," among others. These forward-looking statements are based on
Synergy's current expectations and actual results could differ materially.
There are a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements. These
factors include, but are not limited to, substantial competition; our ability
to continue as a going concern; our need for additional financing;
uncertainties of patent protection and litigation; uncertainties of government
or third party payer reimbursement; limited sales and marketing efforts and
dependence upon third parties; and risks related to failure to obtain FDA
clearances or approvals and noncompliance with FDA regulations. As with any
pharmaceutical under development, there are significant risks in the
development, regulatory approval and commercialization of new products. There
are no guarantees that future clinical trials discussed in this press release
will be completed or successful or that any product will receive regulatory
approval for any indication or prove to be commercially successful. Investors
should read the risk factors set forth in Synergy's Form 10-K for the year
ended December 31, 2012 and other periodic reports filed with the Securities
and Exchange Commission. While the list of factors presented here is
considered representative, no such list should be considered to be a complete
statement of all potential risks and uncertainties. Unlisted factors may
present significant additional obstacles to the realization of forward-looking
statements. Forward-looking statements included herein are made as of the date
hereof, and Synergy does not undertake any obligation to update publicly such
statements to reflect subsequent events or circumstances.
CONTACT: Media Contact:
The Trout Group
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