Synergy Pharma: It Takes Money To Make Money

Synergy Pharmaceuticals (NASDAQ:SGYP), a gastrointestinal focused company out of New York, has probably announced their most significant news yet since the launch of their prized drug, Trulance. Trulance treats both chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). The company has secured a $300 million debt financing deal, and with sufficient cash now, the company is full steam ahead in terms of launch. I'll go into the details for this debt financing deal.

As mentioned above, Synergy secured a $300 million debt financing deal. A statement from the company's CFO can be seen below:

This non-dilutive financing enhances our cash position and provides us with financial flexibility to continue to execute on the launch of TRULANCE and achieve our business objectives, which we are confident will ultimately maximize long-term shareholder value. The structure of this financing provides us with access to capital for support of our commercialization of TRULANCE and funds our current plans for the Company through 2019 when, based on our current assumptions, we expect to be cash flow break-even.

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