Company Update (NASDAQ:SNTA): Synta Pharmaceuticals Corp. Announces Presentations at the 2015 ASCO Annual Meeting


Synta Pharmaceuticals Corp. (NASDAQ:SNTA) announced that Phase 1 clinical results from three investigator-sponsored trials evaluating ganetespib combination therapy in ALK-positive lung cancer, platinum-resistant ovarian cancer, and rectal cancer will be presented at the 2015 American Society of Clinical Oncology (ASCO) Annual Meeting taking place May 29-June 2 in Chicago. Ganetespib, a next-generation inhibitor of the chaperone protein Hsp90 critical for the activation of numerous proteins that control malignant tumor growth, is currently in Phase 3 evaluation in non-small cell lung cancer.

The Company also announced that preclinical results for its lead HDC candidate, STA-12-8666, in pediatric sarcoma will be presented at the ASCO Annual Meeting. STA-12-8666 is a conjugate of an Hsp90 inhibitor and SN-38, the active metabolite of the widely used drug irinotecan.

Details of the poster presentations are provided below:

Part I of GANNET53: A multicenter phase I/II trial of the Hsp90 inhibitor ganetespib combined with weekly paclitaxel in women with high-grade serous, high-grade endometrioid, or undifferentiated, platinum-resistant epithelial ovarian, fallopian tube or primary peritoneal cancer.

Abstract #: 5578
Date and Time: Saturday, May 30, 1:15-4:45 PM CT
Location: S Hall A2
Presenter: Isabelle Ray-Coquard, M.D., Centre Léon Bérard, Lyon, France

Activity of Hsp90 inhibitor drug conjugate (HDC) STA-12-8666 in preclinical models of pediatric sarcoma.

Abstract #: 10025
Date and Time: Sunday, May 31, 8:00-11:30 AM CT (Poster); 11:30AM-12:45PM CT (Discussion)
Location: S Hall A2 (Poster); S504 (Discussion)
Presenter: Christine Heske, M.D., Pediatric Oncology Branch, National Cancer Institute, Bethesda, MD

Phase I study of ganetespib, capecitabine, and radiation in rectal cancer.

Abstract #: 3596
Date and Time: Monday, June 1, 8:00-11:30 AM CT
Location: S Hall A2
Presenter: Bassel F. El-Rayes, M.D., Winship Cancer Institute of Emory University, Atlanta, GA

A phase 1 study of crizotinib and ganetespib (STA-9090) in ALK positive lung cancers.

Abstract #: 8064
Date and Time: Monday, June 1, 8:00-11:30 AM CT
Location: S Hall A2
Presenter: Gregory J. Riely, M.D., Memorial Sloan Kettering Cancer Center, New York, NY (Original Source)

Shares of Synta Pharmaceuticals closed today at $2.17, down $0.02 or 0.91%. SNTA has a 1-year high of $4.97 and a 1-year low of $1.85. The stock’s 50-day moving average is $2.46 and its 200-day moving average is $2.57.

On the ratings front, MLV & Co. analyst Arlinda Lee reiterated a Buy rating on SNTA, with a price target of $6.50, in a report issued on March 13. The current price target implies an upside of 199.5% from current levels. According to TipRanks.com, Lee has a total average return of 2.3%, a 53.8% success rate, and is ranked #1712 out of 3610 analysts.

Synta Pharmaceuticals Inc is a biopharmaceutical company. It is engaged inresearch, development and commercialization of novel oncology medicines that have the potential to change the lives of cancer patients.

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