LEXINGTON, Mass.--(BUSINESS WIRE)--Dec. 12, 2012--
Synta Pharmaceuticals Corp. (NASDAQ: SNTA) announced today that it has
commenced an issuer directed, registered direct offering of its common
stock. Shares will be priced at today's closing market value, and Synta
expects to raise gross proceeds of approximately $40 million to $50
million. No underwriter or placement agent will be used in this
transaction. Members of Synta’s Board of Directors are expected to
participate in the offering.
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.
The securities described above are being offered by Synta
Pharmaceuticals pursuant to a registration statement previously filed
and declared effective by the Securities and Exchange Commission. The
securities may be offered only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. When available, copies of the final prospectus supplement and
accompanying base prospectus relating to this offering may be obtained
directly from the Company at 45 Hartwell Avenue, Lexington,
Massachusetts 02421, Attn: Investor Relations (781-274-8200) or from the
website of the Securities and Exchange Commission at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of Synta Pharmaceuticals
Corp. nor shall there be any sale of securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
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.
Safe Harbor Statement
This media release may contain forward-looking statements about Synta
Pharmaceuticals Corp., including, but not limited to, whether an
offering will actually be consummated, the expected size of the offering
and the expected use of the proceeds from the offering. 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, 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, 2011 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
Investor Relations Contact:
Synta Pharmaceuticals Corp.
George
Farmer, 781-541-7213
[email protected]