Drug developer for chronic inflammatory diseases and cancer, Synta Pharmaceuticals, priced its 5 million share offering at $10, a 33% discount to the midpoint of its proposed $14-$16 range, on Tuesday morning. The offering sized was also reduced from its originally proposed 6 million shares. The underwriters for the offering were Bear Stearns and Lehman Brothers. The stock is expected to begin trading Tuesday morning on the NASDAQ under the ticker SNTA.
