Synergy Pharmaceuticals, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's net loss was $18.7 million or $0.26 per share, as compared to a net loss of $7.0 million, or $0.13 per share, for the three months ended March 31, 2012. Loss from operations was $17.6 million compared with $7.1 million a year ago. Net cash used in operating activities was $15.6 million compared with $6.8 million a year ago.

Synergy Pharmaceuticals, Inc. is looking for acquisition opportunities. Synergy intends to use the net proceeds from its public offering of $90 million to fund its research and development activities, including further clinical development of plecanatide and its other pipeline programs, and for working capital and other general corporate purposes, and possibly acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated.

Synergy Pharmaceuticals, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's loss from operations was $11,532,000 compared to $7,925,000 a year ago. Net loss was $11,978,000 or $0.18 per basic and diluted share compared to $5,626,000 or $0.12 per basic and diluted share a year ago. For the year, the company's loss from operations was $38,235,000 compared to $20,164,000 a year ago. Net loss was $39,444,000 or $0.64 per basic and diluted share compared to $14,467,000 or $0.30 per basic and diluted share a year ago. Net cash used in operating activities during the year ended December 31, 2012 and 2011 was $31.1 million and $21.2 million, respectively.