JMP Securities Downgrades Synta Pharma. (SNTA) to Market Perform
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October 21, 2015 2:01 PM EDT
Cowen downgraded Synta Pharma. (NASDAQ: SNTA) from Outperform to Market Perform.
Analyst Boris Peaker commented, "In light of GALAXY-2's stoppage, we are downgrading shares of SNTA from Outperform to Market Perform without a price target. In our view there are limited... More
October 21, 2015 12:28 PM EDT
FBR Capital downgraded Synta Pharma. (NASDAQ: SNTA) from Outperform to Market Perform and cuts its price target from $6 to $2.
Analyst Christopher James noted the following:
No separation of the curves following interim analysis. Following the termination of GALAXY-2, we do not see a clear path forward for ganetespib. Since the remaining studies with ganetespib are...
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October 21, 2015 8:41 AM EDT
Roth Capital downgraded Synta Pharma. (NASDAQ: SNTA) from Buy to Neutral with a price target of $1.00 (from $13.00).
Analyst Joseph Pantginis commented, "GALAXY-2 has been terminated at the first interim for futility. This is quite disappointing news for ganetespib, and our call for... More
October 21, 2015 7:25 AM EDT
Synta Pharmaceuticals Corp. (NASDAQ: SNTA) today announced that the Company has decided to terminate the Phase 3 GALAXY-2 trial of ganetespib and docetaxel in the second-line treatment of patients with advanced non-small cell lung adenocarcinoma. Based on the review of a pre-planned interim analysis, the studys Independent Data Monitoring Committee (IDMC) concluded that the addition of ganetespib to docetaxel is unlikely to demonstrate a statistically significant improvement in the primary endpoint of overall survival compared to docetaxel alone. The IDMC noted... More
