Did Synta Pharmaceuticals Corp (NASDAQ:SNTA) Find Cure For Cell-Lung Adenocarcinoma
Synta Pharmaceuticals Corp (NASDAQ:SNTA) has announced the presentation of the GALAXY-1 trial results. This is a randomized, global, Phase2b/3 study that was carried out at multiple centers. It has been designed to study patients suffering from advanced non small cell-lung adenocarcinoma. The expectation is that patients suffering from this condition will benefit from ganetespib, the Hsp90 inhibitor’s 2nd-line treatment. Ganetespib is the company’s lead drug candidate.
The planned, interim-analysis had been carried out by the company in May. The results of this analysis are slated to be presented at the ECCO/ESMO/ESTRO 2013 conference. It will include all the interim-findings that had already been presented at the 2013 ASCO. Also included will be the results of 2 of the primary-patient pre-specified studies.
In Monday’s trading session, Synta Pharmaceuticals Corp (NASDAQ:SNTA) dropped by 5.54%. The company’s shares opened at a price of $6.63, climbed to an intraday high of $6.64 and dropped to a close of $6.31. Approximately 1.55 million shares were traded on Monday while an average volume of 0.975 million shares were traded over 30 days. The 52-week low of the shares is $3.76 while the 52-week high is $11.88. The company has a market capitalization of $435.76 million.
About the company
Synta Pharmaceuticals Corp (NASDAQ:SNTA) is a bio-pharma company. It focuses on the discovery, development, and commercialization of small-molecule drugs to treat medical conditions of patients suffering from cancer and some inflammatory diseases. As of 31 December 2011, it had 2 drug-candidates in clinical-trials for the treatment of multiple kinds of cancer and numerous drug-candidates that are in preclinical-stages of development.
The company’s discovers and develops its drug candidates internally. For this purpose, it utilizes its chemical-compound library and integrated-discovery engine. In the year ended 31 December 2011, Synta Pharmaceuticals Corp (NASDAQ:SNTA) initiated the Phase 2b/3 clinical trial (GALAXY) of ganetespib in conjunction with docetaxel in treating non-small cell lung cancer.