Synergy Pharmaceuticals Announces Proposed Public Offering

NEW YORK, May 3, 2012 (GLOBE NEWSWIRE) -- Synergy Pharmaceuticals Inc. (Nasdaq:SGYP), a developer of new drugs to treat gastrointestinal disorders and diseases, announced today its intention, subject to market and other conditions, to commence a public offering of its common stock. Synergy intends to use the net proceeds from the offering to fund its research and development activities, including its ongoing Phase II/III clinical trial of plecanatide and its Phase I clinical trial of SP-333, and for working capital and other general corporate purposes.