You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Synta to sell 7 million of its shares

LEXINGTON — Synta Pharmaceuticals Corp. said Thursday that it expects to sell 7 million shares of its stock for about $60 million.

The company priced the offering­ at $8.60 per share, a penny below its closing price on Wednesday.

Continue reading below

Synta expects $60 million in proceeds before expenses and discounts.

It said the sale will close Tuesday.

Synta said it will use the proceeds to fund research and development, clinical trials, and manufacturing, and for other corporate purposes.

Synta shares rose 19 cents, or 2.2 percent, to $8.80. They have traded between $3.57 and $9.85 in the last year.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com