NEW YORK--(BUSINESS WIRE)--Synergy Pharmaceuticals Inc. (Nasdaq:SGYP), a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies, today announced an agreement to sell $125 million of its common stock to an underwriting syndicate led by Cantor Fitzgerald & Co., in a registered underwritten public offering.

Cantor Fitzgerald & Co. is lead book-running manager for the offering. Canaccord Genuity Inc. is joint book-running manager for the offering.

Synergy intends to use the net proceeds from the offering to fund its commercialization activities related to TRULANCE™, further clinical development of plecanatide and for working capital and other general corporate purposes. Synergy may also use the net proceeds from this offering to fund possible acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated.

About Synergy Pharmaceuticals Inc.:

Synergy is a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies. Synergy has pioneered discovery, research and development efforts around analogs of uroguanylin, a naturally occurring human GI peptide, for the treatment of GI diseases and disorders. Synergy discovered, is developing and controls 100% worldwide rights to its proprietary uroguanylin analog platform which includes one commercial product TRULANCE (plecanatide) and a second lead product candidate - dolcanatide.