Synta Pharma (SNTA) Tops Q1 EPS by 1c

Synta Pharma (NASDAQ: SNTA) reported Q1 EPS of ($0.19), $0.01 better than the analyst estimate of ($0.20).

“We remain encouraged by the progress of our ganetespib clinical program including enrollment in our pivotal, Phase 3 GALAXY-2 trial in non-small cell lung adenocarcinoma, and the broad investigator-led trial effort, which includes large, ongoing randomized trials in acute myeloid leukemia and ovarian and breast cancers,” said Chen Schor, President and Chief Executive Officer of Synta. “We are also excited by the emerging profile of STA-12-8666, the lead therapeutic candidate emerging from our novel Hsp90 drug conjugate platform, which has demonstrated anti-tumor activity in resistant tumor models through studies conducted by leading research institutions, such as the Fox Chase Cancer Center in Philadelphia. Synta remains on course to reach several critical milestones throughout the rest of this year and 2016, including the first interim analysis of GALAXY-2 in the second half of this year and progression of STA-12-8666 toward IND in the first quarter of 2016.”

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