Synergy Pharma (SGYP) Gains as Paulson & Co. Loads Up

Synergy Pharma (NASDAQ: SGYP) is gaining in pre-open trade after John Paulson's, Paulson & Co, disclosed that it owned 27,756,668 shares as of 05/04/16, according to a new Form 4 filing.

This is up from the 9,000,000 shares held at the end of the year 2016 and the 11,090,000 shares held at March 31, 2016.

Many of the share were likely snapped up in the recent direct offering of 29,948,334 shares of common stock at a price of $3.00 per share.

Shares of SGYP are up 8% in pre-open trade to $3.24.

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