Synta Pharmaceuticals Corp (NASDAQ:SNTA)’s shares rose by 6.55% on Friday

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Dallas, Texas 11/18/2013 (Financialstrend) – In Friday’s trading session, Synta Pharmaceuticals Corp (NASDAQ:SNTA) rose by 6.55 %. The shares opened at a price of $4.02, which touched the intraday high of $4.23 which was the closing price of the day. Around 2.04 million exchanged hands over the trading day and an average volume of 1.73 million shares were traded over a 30 day period. The 52-week low of Synta Pharmaceuticals Corp (NASDAQ:SNTA) shares is $3.70 and its 52-week high is $11.88. The company has a market capitalization of $292.12 million.                                        

About the company

Synta Pharmaceuticals Corp (NASDAQ:SNTA) was formed on March 2000. It is a bio-pharmaceutical company. It concentrates on the discovery, development & commercializing small-molecule drugs for the treatment of severe medical conditions of patients suffering from inflammatory diseases and cancer. As of 31 December, 2011, the company had 2 different drug-candidates in clinical-trials for the treatment of multiple kinds of cancer & numerous drug candidates in preclinical-stages of development. Synta Pharmaceuticals Corp (NASDAQ:SNTA)’s drug candidates are discovered & developed internally.

The company used the chemical-compound library & integrated-discovery engine. In the year that ended on 31st December 2011, Synta Pharmaceuticals Corp (NASDAQ:SNTA) initiated a Phase-2b/3 clinical-trial named GALAXY. This trail was for ganetespib as a mix with docetaxel in some non-small cell lung cancer (NSCLC). In the year 2011, apart from focusing on its ganetespib program, Synta Pharmaceuticals Corp (NASDAQ:SNTA) also focused on the elesclomol & calcium-release activated calcium-modulator programs.

 Oncology Programs

Synta Pharmaceuticals Corp (NASDAQ:SNTA) had 2 clinical-stage programs and 1preclinical-stage program in the field of oncology, as of 31st December 2011. The company’s oncology programs are ganetespib/ Hsp90 Inhibitor; elesclomolwhich is the Mitochondria-Targeting Agent & STA-9584. Ganetespib is the company’s synthetic, small-molecule-inhibitor of Hsp90. This is a chaperone-protein that is necessary to the function of some other proteins, like tyrosine kinases that drives the growth, proliferation & survival of different types of cancer.

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