In a financing undertaking, Synta Pharmaceuticals has entered into common stock subscription agreements with members of its Board of Directors for the sale of 3,976,702 shares of its common stock in a registered direct offering at a price of $6.49 per share, for gross proceeds of approximately $25.8 million.
In this financing venture, the shares were offered directly to the purchasers without a placement agent, underwriter, broker or dealer.
The net proceeds from the financing offering will be used to fund Synta’s operations, including advancement of Synta’s lead drug candidate, ganetespib, other research and development, clinical trials, manufacturing, intellectual property protection and enforcement, and working capital, and for other general corporate purposes.
For further deal information visit Current Agreements (subscription required)
Read: more on financing deals in pharma, biotech, life science partnering deal news, insights and glossary
View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value
View: Current Partnering’s M&A Scorecard – view top life science M&A deals by value
View: Current Partnering’s Financing Scorecard – view top life science financing deals by value
View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making
View: Current Partnering’s Big Pharma Deal Making Scorecard– latest trends in big pharma deal making activity