An investor syndicate that includes Bay City Capital, Fred Craves, Ph.D., Founder of Bay City Capital, and SQN LLC, a corporation held by Dr. Friedman and Rebecca Taub, M.D., has committed to invest up to $9 million in Madrigal prior to the closing of the Merger. The combined company intends to use these proceeds, in addition to Synta’s cash balance at the closing of the merger, to fund the development of MGL-3196 through Phase 2 clinical studies in NASH, HeFH and HoFH.
“Following an extensive review of strategic alternatives, Synta’s Board of Directors believes that a merger with Madrigal Pharmaceuticals offers shareholders the most compelling opportunity for enhancing long-term value,” said Keith R. Gollust, Chairman of Synta. “Madrigal’s lead compound, MGL-3196, is a selective THR-ß agonist with a unique lipid lowering profile that has been validated through early clinical and preclinical studies. The combined company will be well capitalized with a lead program that offers both a potentially substantial commercial opportunity in NASH, and an efficient clinical development plan with commercial potential in genetic lipid disorders.”
Sentiment: Strong Buy
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Are you talking about SNTA??? If yes, today volume is not high but point down to a new support of .255. I'm little worry, i hope that can recover in closing
Yes, I was amazed by the numbers, although Friday-triple-witch shouldn't cause that kind of volume, couldn't find any published information cause for the spike
I'm ready to buy a ton if the share price drops significantly near term, I believe the new company is focused on the type of drugs that are on radar to help thousands of suffering people (without cancer being the target) the big boys will be all over this deal once the marriage is finalized and Phase results are positive all sometime before year end is what might happen.
We (shareholders) wait until July 30, 2016, then start the countdown to reach October 30, 2016 for final confirmation.
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snta is a dead horse with steriods & antibiotics & presevatives sharesholders will be embalmed in bankruptcy