Synergy Pharmaceuticals Inc. (SGYP), a developer of drugs for gastrointestinal disorders, surged the most in seven weeks after its experimental medicine for constipation worked better than a placebo in a trial.
Synergy rose 18 percent to $6.21 at 4 p.m. for the biggest advance since Nov. 14. The shares of the New York-based company have gained 77 percent in the last 12 months.
Synergy’s plecanatide helped patients with chronic idiopathic constipation have more spontaneous bowel movements and led to improvements in areas such as stool consistency and straining, the company said today in a statement. The incidence of diarrhea was 9.7 percent compared with 1.3 percent for patients taking a placebo.
The 12-week study of 951 patients was in the so-called phase 2b/3 stage of trials, of three generally required for regulatory approval. Linzess, from Ironwood Pharmaceuticals Inc. (IRWD), was approved in August for chronic idiopathic constipation and irritable bowel syndrome with constipation.
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