LEXINGTON, Mass.--(BUSINESS WIRE)--Mar. 11, 2009--
Synta Pharmaceuticals Corp. (NASDAQ: SNTA), a biopharmaceutical company
focused on discovering, developing, and commercializing small molecule
drugs to treat severe medical conditions, today announced that it has
postponed the release of its fourth-quarter and year-end 2008 financial
results and its year-end conference call previously scheduled for
Thursday, March 12, 2009. Synta is postponing the earnings release and
call because additional time is required to allow Synta to complete its
review of certain additional disclosures and financial implications
relating to the Company's decision, previously announced on February 26,
2009, to suspend the clinical development of elesclomol, including the
Phase 3 clinical trial of elesclomol in metastatic melanoma (SYMMETRY(SM)).
Synta also expects that it will need to file for an extension to file
its Annual Report on Form 10-K for the year ended December 31, 2008, but
expects to file the Form 10-K as soon as it is able and within the
15-day extension period allowed pursuant to SEC rules, which will end on
March 31, 2009.
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. For more information, please visit www.syntapharma.com.
Safe Harbor Statement
This media release may contain forward-looking statements about Synta
Pharmaceuticals Corp. Such forward-looking statements can be identified
by the use of forward-looking terminology such as "will", "would",
"should", "expects", "anticipates", "intends", "plans", "believes",
"may", "estimates", "predicts", "projects", or similar expressions
intended to identify forward-looking statements. Such statements,
including statements relating to anticipated timing of the filing of the
Synta Annual Report on Form 10-K for the year ended December 31, 2008,
reflect our current views with respect to future events and are based on
assumptions and subject to risks and uncertainties that could cause
actual results to differ materially from those expressed or implied by
such forward-looking statements, including those described in "Risk
Factors" of our Form 10-K for the year ended December 31, 2007 as filed
with the Securities and Exchange Commission. Synta undertakes no
obligation to publicly update forward-looking statements, whether
because of new information, future events or otherwise, except as
required by law.
Source: Synta Pharmaceuticals Corp.
Synta Pharmaceuticals Corp.
Rob Kloppenburg, 781-541-7125
