Synergy Pharma: Dilutive Financing Appears Likely Before Inflection Point
Cash position suggests Synergy Pharma needs to raise more money before next $100 million loan tranche.
New CEO has an opportunity to end financing risks to new investors.
The company is near an inflection point in sales and costs that will reduce cash burn going forward.
Synergy Pharmaceuticals (SGYP) continues to wade through a volatile drug launch due to questionable internal decisions. The company botched the drug launch financing, but the investment thesis isn't altered with the recent replacement of the CEO.
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