Synta prices underwritten public offering of 7,000,000 shares of common stock

Synta Pharmaceuticals Corp. (NASDAQ: SNTA) announced today that it has priced an underwritten public offering of 7,000,000 shares of its common stock at a price to the public of $4.40 per share. Net proceeds to Synta are expected to be approximately $28.6 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Synta. The offering is expected to close on or about January 11, 2012, subject to satisfaction of customary closing conditions.

Synta has granted the underwriters a thirty (30) day option to purchase up to 1,050,000 additional shares to cover over-allotments, if any.