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Synergy Pharmaceuticals plans $125M common stock offering

Synergy Pharmaceuticals Inc. entered into an agreement to sell $125 million of its common stock in a registered underwritten public 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. It 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.

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