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Business

Mass. Movers

Synta drug picked for breast cancer study

Synta develops small-molecule drugs to treat cancer and inflammatory diseases.

Synta develops small-molecule drugs to treat cancer and inflammatory diseases.

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Synta Pharmaceuticals Corp. surged on news about its lead cancer drug, ganetespib. The Lexington company had no annual revenue and its quarterly net loss widened 34 percent to $24.2 million. But Synta ended the year with $91.5 million in cash to fund fiscal 2014 operations. The bigger news: Synta and QuantumLeap Healthcare Collaborative said ganetespib will be part of the I-SPY 2 breast cancer trial, a midstage study of locally advanced cancer to see if adding ganetespib to chemotherapy enhances treatment.

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