Diamonds and Dogs
Synergy Pharmaceuticals, Inc. (SGYP)
Synergy is up $3.01 to $7.65 by mid-afternoon today, marking a 64.87% increase on the day. The company attributes this spike to the announcement of its drug plecanatide, and its success in relieving chronic idiopathic constipation (CIC). The drug, tested against a placebo, yielded a durable response of 41.5% of the population tested combining the results of two differing doses of plecanatide. I won't go into too much detail on how the drug goes about working, but just know that relief is soon to follow its ingestion. The drug formulated by Synergy only caused a side effect in 6% of its users, much lower than expected, and better than the 16% with side effects from Ironwood Pharmaceutical's (IRWD) "Linzess."
DAVIDsTEA Inc. (DTEA)
DAVIDsTEA marked another down day following the release of their first quarter earnings. The company is down $6.93 to $22.25. This 23.59% drop, was added to the sharp decline occurring after market close yesterday evening. The company's first quarter net loss of C$93.2 million (approximately 75.8 million USD) was tied to the stronger US Dollar as well as investment in its supply chain. The company is relatively new to the public, only obtaining its IPO June 5th, so the tank on earnings does not foreshadow its shutdown. The company says its earnings were most hurt by one-time costs related to going public.