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Biotech / Medical : biotech firesales

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From: tnsaf	1/8/2010 11:29:34 AM
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SNTA -17% to $4.5 on this news: LEXINGTON, Mass. (AP) -- Synta Pharmaceuticals Inc. said Friday it expects to raise as much as $26.6 million by selling new shares of stock. The company priced an offering of 5.6 million shares at $4.50 per share, which would give it $25 million in gross proceeds and $23.1 million after discounts and expenses are deducted. The underwriters of the offer will have the option to buy another 833,000 shares to cover over allotments, which would bring the company another $3.5 million after expenses.

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