Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) Files An 8-K Entry into a Material Definitive Agreement


Synergy Pharmaceuticals Inc. (NASDAQ:SGYP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

On June12, 1018, Synergy Pharmaceuticals Inc. (the “Company”) entered into Waiver No.2 (“Waiver No.2”) with CRG Servicing LLC (the “Lender”) to which the Lender waived the requirement, set forth in Section6.02(a)(i)of the Term Loan Agreement between the Company and the Lender dated September1, 2017 (the “Loan Agreement”) that the second borrowing of $25 million (the “Second Borrowing”) under the Loan Agreement occur no later than June30, 2018. Waiver No.2 provides that the Second Borrowing may not occur after August29, 2018. The form of Waiver No.2 is attached as Exhibit10.1 to this report on Form8-K and is incorporated by reference.

On June13, 2018, the Company released a press release announcing the execution of Waiver No.2. The press release is attached as Exhibit99.1 to this report on Form8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1 Formof Waiver No 2 dated as of June12, 2018.

99.1 Synergy Pharmaceuticals Inc. Press Release dated June13, 2018.

EX-10.1 2 a18-15302_1ex10d1.htm EX-10.1 Exhibit 10.1   Execution Version   WAIVER NO. 2   THIS WAIVER (this “Agreement”),…
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About Synergy Pharmaceuticals Inc. (NASDAQ:SGYP)

Synergy Pharmaceuticals Inc. (Synergy) is a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company’s GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease. Plecanatide is the Company’s uroguanylin analog being evaluated for use as a once-daily tablet for two functional GI disorders, chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). Plecanatide is a 16-amino acid peptide that is structurally identical to uroguanylin with the exception of a single amino acid change. Dolcanatide is also its uroguanylin analog being explored for inflammatory bowel disease (IBD). Dolcanatide is designed to be an analog of uroguanylin with resistance to standard digestive breakdown by proteases in the intestine.