Lately, Synergy Pharmaceuticals Inc (PINK:SGYP) has been falling down convincingly. Yesterday, the stock lost another 0.47% 
of its price, while its traded volume notably jumped up. Looks like the situation for SGYP is not bright at all and no one can predict how long the downtrend may continue.
At the same time, there is no fresh news about the company and no one has a clue about its current operations. The only data on SGYP was an 8-K form filed with the SEC last Friday.
According to it, on Oct 14 SGYP has entered into securities purchase agreements with various investors for the sale of 273,824 units of the company in a registered direct offering. Each unit consists of one share of common stock and one warrant to purchase 0.5 shares of common stock. The net proceeds to SGYP from the sale of the units is expected to be $525,326, after deducting placement agent fees and other estimated offering expenses payable by the company.
Obviously, SGYP has some big issues lately and it’s been forced to sell some units. Though, the sale did not influenced the stock price positively and it kept going down.[BANNER]
Meanwhile, the company kept warning investors that an investment in its securities involves a high degree of risk, described in the Risk Factors sections filed with the SEC.
Despite all the above-mentioned, SGYP stock price still exceeds $2.10 per share, while the company is still in the development-stage. Besides, its latest 10-Q report shows no revenues, and there is both a shocking accumulated deficit and stockholders’ deficit, and the liabilities are over $12 million.
Judging by these numbers, Synergy certainly needs additional financing. Otherwise, the company’s future existence is not guaranteed.
