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Biotech Stocks Facing FDA Decision in January 2018

Synergy Pharmaceuticals
Synergy Pharmaceuticals

Synergy Pharmaceuticals Inc.’s (SGYP) supplemental New Drug Application for TRULANCE for the treatment of adults with irritable bowel syndrome with constipation is under FDA review, with a decision expected on January 24, 2018.

TRULANCE, a once-daily tablet, is already approved by the FDA for the treatment of adults with chronic idiopathic constipation.

Launched in March 2017, TRULANCE has generated sales of $7.42 million so far for the first nine months ended September 30, 2017.

H.C. Wainwright analyst Ram Selvaraju now expects TRULANCE to register sales of $17.5 million this year, down from his previous forecast of $27.7 million.

SGYP closed Tuesday’s (Dec.26) trading at $2.24, down 1.75%.