Morning Buzz: Synergy (SGYP), Ascendis Pharma (ASND), Gevo (GEVO), 3D Systems (DDD), Baidu, (BIDU)

Shares of Synergy Pharmaceuticals, Inc. (SGYP) are up 2.24% to $59.35 in Thursday’s pre-market trading after the company announced positive top-line results from its second of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses in patients with chronic Idiopathic constipation.

“We are thrilled with the positive results of this trial,” said in a statement Gary S. Jacob, Ph.D., Chairman and CEO of Synergy. “We now have successfully completed the two largest phase 3 trials ever conducted in CIC and plecanatide’s treatment effect and tolerability profile have been remarkably consistent. We look forward to filing our first NDA with plecanatide in the CIC indication and the opportunity to bring this novel treatment to market.”

Shares of Ascendis Pharma A/S (ASND) are higher by more than 17% to $23.39 in early trading after the company this morning announced positive top-line results from its six-month Phase 2 pediatric study of its TransCon Growth Hormone.

“We are extremely pleased with the top-line results from our Phase 2 pediatric study and believe these data establish once-weekly TransCon Growth Hormone as the potential best-in-class long-acting human growth hormone program,” stated Jan Mikkelsen, President and CEO of Ascendis.

Shares of Gevo, Inc. (GEVO) are higher by 14.16% to $2.50 in early morning trading on Thursday, following the company’s announcement that Express Lube of Fredericksburg, Texas, is the first U.S. service station to sell gasoline blended with Gevo’s renewable isobutanol at the pump. This is anticipated to be the first of many retail locations to offer Gevo’s product as the company rolls out its isobutanol to the marina, outdoor equipment and off-road gasoline markets.

Shares of 3D Systems Corporation (DDD) are down 9.40% in sympathy with Stratasys Ltd. (SSYS) following its 2nd-quarter loss of $22.9 million.

In the past 52 weeks, shares of Rock Hill, South Carolina-based 3D Systems have traded between a low of $14.06 and a high of $54.24 and are now at $13.80. Shares are down 72.20% year-over-year and 53.73% year-to-date.

SSYS shares have decreased 64.57% year-over-year and 56.09% year-to-date.

Shares of Chinese Internet search provider Baidu, Inc. (BIDU) are up $2.49, or 1.46%, at $172.50, after the company this morning announced a $1 billion buyback of its shares, which will take place over the next 12 months. The news comes on the heels of disappointing Q2/15 earnings ($1.81 vs. $1.87 consensus) reported earlier in the week.

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