LEXINGTON, Mass.--(BUSINESS WIRE)--May 12, 2008--Synta Pharmaceuticals Corp. (NASDAQ: SNTA), today announced that the Company has been selected for inclusion in the NASDAQ Biotechnology Index (NBI), effective as of the market's open on Monday, May 19, 2008.
"We are pleased to be included in the NASDAQ Biotechnology Index," commented Safi Bahcall, Ph.D., President and Chief Executive Officer of Synta. "The increased visibility to investors is one step along the way to meeting our long-term goals. We are grateful for this recognition of our progress, as we continue to focus on advancing our product pipeline and bringing our compounds closer to regulatory approval and market acceptance."
Launched in 1993, the NBI includes biotechnology and pharmaceutical companies listed on the NASDAQ National Market that meet minimum requirements for market value, average daily share volume and seasoning as a public company. The index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares Nasdaq Biotechnology Index Fund (Amex: IBB). For more information about the Nasdaq Biotechnology Index, including eligibility criteria, visit www.nasdaq.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. Synta has a partnership with GlaxoSmithKline for the joint development and commercialization of its lead investigational drug candidate, elesclomol, which is in a global, pivotal Phase 3 clinical trial for the treatment of metastatic melanoma. 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 the timing and progress of our clinical and preclinical programs, 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.
CONTACT: Synta Pharmaceuticals Corp.
Rob Kloppenburg, 781-541-7125
MacDougall Biomedical Communications
Doug MacDougall, 508-647-0209
SOURCE: Synta Pharmaceuticals Corp.