Synta Pharmaceuticals - GALAXY-2 poised to start
Feb 25th 2013 - Edison Investment Research today published a report on Synta Pharmaceuticals entitled "GALAXY-2 Poised To Start". In summary, the report says:
Synta’s investment case now effectively rests on the success of ganetespib in its two target registration indications of non-small cell lung cancer (NSCLC) and metastatic breast cancer (mBC). Following a $60m fund-raising last year, Synta is poised to embark on the c 500 patient GALAXY-2 Phase III study of ganetespib in second-line NSCLC. This will run in parallel with its CHIARA Phase II study in ALK+ NSCLC, while a separate Phase II study is underway in mBC. We have revised our rNPV to reflect Synta’s effectively exclusive focus on ganetespib and now indicate a valuation of $791m or $11.48/share (basic) or $11.00/share (fully diluted).
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