LEXINGTON, Mass.--(BUSINESS WIRE)--Mar. 30, 2015--
Synta Pharmaceuticals Corp. (NASDAQ: SNTA) today announced that it has
commenced an underwritten public offering of shares of its common stock.
The offering is subject to market and other conditions, and there can be
no assurance as to whether or when the offering may be completed, or as
to the actual size or terms of the offering. Synta intends to grant the
underwriters a 30-day option to purchase additional shares of its common
Jefferies LLC and Cowen and Company, LLC are acting as joint
book-running managers for the proposed offering.
The securities described above are being 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 preliminary prospectus supplement related
to the offering will be filed with the SEC and will be available on the
SEC's website located at www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying
prospectus relating to this offering may be obtained by sending a
request to: Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 12th Floor, New York, NY, 10022, by
telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com
or Cowen and Company, LLC, c/o Broadridge Financial Services, Attention:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
Telephone: 631-274-2806, Fax: 631-254-7140.
About Synta Pharmaceuticals
Synta Pharmaceuticals Corp. is an innovative, agile biopharmaceutical
company focused on research, development and commercialization of novel
oncology medicines that have the potential to change the lives of cancer
patients. Synta’s lead oncology drug candidate, ganetespib, a novel heat
shock protein 90 (Hsp90) inhibitor, is currently being evaluated in
several clinical trials including the pivotal GALAXY-2 Phase 3 trial in
non-small cell lung cancer. Building on its extensive expertise in the
science of Hsp90, Synta also has a novel proprietary Hsp90 inhibitor
Drug Conjugate (HDC) small molecule drug development program. IND
enabling studies have commenced for the first clinical candidate from
the HDC program, STA-12-8666, and preclinical evaluation of additional
HDC candidates is ongoing.
Safe Harbor Statement
This media release contains forward-looking statements about Synta
Pharmaceuticals Corp., including statements relating to the proposed
public offering of securities. Such statements 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, 2014 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.
Andrea Rabney, 212-600-1494
Eliza Schleifstein, 917-763-8106