Item 7.01 Regulation FD Disclosure.

On September 25, 2012, Cantor Fitzgerald ("Cantor") released an analyst's report with respect to Synergy Pharmaceuticals Inc. (the "Company") stating that "Synergy management also indicated that the rate of diarrhea in its ongoing trial remains meaningfully lower than that for Linzess (reported to be in the 16-20% range in the Linzess product label)." The analyst subsequently amended the report to state that "Based on the early diarrhea data, we believe that the ongoing Phase IIb clinical trial may demonstrate that plecanatide has lower diarrhea rates than Linzess (reported to be in the 16-20% range in the Linzess product label)." The Company reiterates its Phase IIb/III clinical trial is a blinded study and no conclusions can or should be made from blinded data.