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Quarterly loss widens at Synta Pharmaceuticals

Associated Press / March 12, 2011

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LEXINGTON — Synta Pharmaceuticals Corp. said yesterday its fourth-quarter loss widened on a drop in revenue and a slight boost in expenses.

The company lost $8.8 million, or 21 cents per share, compared with a loss of $7 million, or 21 cents per share. Synta had about 7.3 million additional shares of stock outstanding during the most recent period. Revenue fell to $4 million from $4.7 million.

Analysts polled by FactSet expected a loss of 23 cents per share on $4 million in revenue.

Operating expenses rose 6 percent to $12.4 million.

For the full year, the company lost $37.5 million, or 93 cents per share, compared with profit of $79.1 million, or $2.32 per share, in 2009, when it received a hefty payment from its former partner GlaxoSmithKline.

. . . SNTA . . .
Synta Pharma. Corp.
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