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Synta Pharmaceuticals Corp Announces Proposed Registered Direct Offering Of Common Stock

Wednesday, 12 Dec 2012 04:05pm EST 

Synta Pharmaceuticals Corp announced that it has commenced an issuer directed, registered direct offering of its common stock. Shares will be priced at 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. 

Company Quote

0.03 +0.97%
26 Nov 2014