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December 13, 2012
07:35 EDTSNTASynta Pharmaceuticals announces $60M registered direct common stock offering
Synta Pharmaceuticals has entered into common stock purchase agreements with members of its Board of Directors and various institutional investors for the sale of 7,000,000 shares of its common stock in an issuer directed, registered direct offering. Shares were priced at $8.60, the consolidated closing bid price as of December 12 for gross proceeds of approximately $60M. No underwriter or placement agent was used in this transaction. The offering is expected to close on or about December 18, subject to satisfaction of customary closing conditions. Net proceeds from the offering will be used to fund Synta's operations, including, research and development, clinical trials, manufacturing, intellectual property protection and enforcement, and working capital, and for other general corporate purposes.
News For SNTA From The Last 14 Days
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November 19, 2014
07:04 EDTSNTASynta Pharmaceuticals presents preclinical results from Hsp90 platform
Synta Pharmaceuticals announced that a poster highlighting preclinical results from its Hsp90 inhibitor Drug Conjugate platform is being presented at the 26th EORTC-NCI-AACR Symposium in Barcelona. “This poster highlights our ongoing evaluation of multiple candidates from the HDC platform. The preclinical results for our lead candidates not only demonstrate broad activity across several tumor types, but also the ability for HDCs to induce prolonged antitumor effects as compared to well-established cytotoxic agents,” said Weiwen Ying, Vice President, Discovery Chemistry at Synta. “In addition, the platform is not limited to using traditional cytotoxic therapeutics as payloads. A number of commonly used small molecule anticancer agents may also be incorporated, including tyrosine kinase inhibitors, proteosome inhibitors, small molecule immunotherapeutics, and other molecularly targeted agents. By leveraging the preferential retention characteristic of the Hsp90 targeting arm of an HDC in tumors, intratumoral exposure and antitumor potency for a wide array of payloads can be potentially improved." "We are encouraged by the progress the team has achieved to date with candidates arising from the HDC platform and the promise that the platform holds for both internal development and partnerships,” said Anne Whitaker, President and CEO of Synta. “We continue to evaluate options for efficiently advancing candidates from this platform and look forward to providing updates in the future.”

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