Synta Pharmaceuticals Closes Public Offering of Common Stock

LEXINGTON, Mass.--(BUSINESS WIRE)--Synta Pharmaceuticals Corp. (NASDAQ: SNTA) announced today the closing of its underwritten public offering of 7,000,000 shares of common stock at a public offering price of $4.40 per share. Net proceeds to Synta are approximately $28.6 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Synta. Synta has granted the underwriters a thirty (30) day option to purchase up to 1,050,000 additional shares to cover over-allotments, if any.