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Synta Pharmaceuticals Sells Additional 1,050,000 Shares of Common Stock

LEXINGTON, Mass.--(BUSINESS WIRE)--Feb. 6, 2012-- Synta Pharmaceuticals Corp. (NASDAQ: SNTA) today announced the completion of the sale of 1,050,000 additional shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters of its previously announced public offering. After underwriting discounts and commissions and estimated offering expenses payable by Synta, aggregate net proceeds from the offering were approximately $32.9 million.

Jefferies & Company, Inc. acted as the sole book-running manager for the offering, and Canaccord Genuity Inc. and Roth Capital Partners, LLC acted as co-managers for the offering.

The securities described above were offered by Synta pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission (SEC). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. A final prospectus supplement related to the offering was filed with the SEC and is available on the SEC's website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com.

About Synta Pharmaceuticals

Synta Pharmaceuticals Corp. is a biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs to extend and enhance the lives of patients with severe medical conditions, including cancer and chronic inflammatory diseases. Synta has a unique chemical compound library, an integrated discovery engine, and a diverse pipeline of clinical- and preclinical-stage drug candidates with distinct mechanisms of action and novel chemical structures. All Synta drug candidates were invented by Synta scientists using our compound library and discovery capabilities.

Source: Synta Pharmaceuticals Corp.

Synta Pharmaceuticals Corp.
Rob Kloppenburg, 781-541-7125