Synergy slumps as takeover offers fall short of estimates

29 October 2018

More than 69% was wiped off the market value of gastrointestinal (GI) specialist Synergy Pharmaceuticals (Nasdaq: SGYP) on Friday.

With sales of its lead product below expected levels and the need to repay a loan looming large, the US biotech announced that it has failed to find a buyer willing to match its estimates on the company’s worth.

This is the second time that no suitable buyer has come forward after Synergy has looked into the prospect of being acquired.

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