Tuesday, July 3, 2012, 12:05pm EDT Related: Health Care
Julie M. Donnelly Reporter- Boston Business Journal Email Synta Pharmaceuticals’ (Nasdaq: SNTA) stock rose more than 10 percent Tuesday, and has jumped more than 32 percent since a rash of insider buys June 29. The Lexington, Mass-based biotechnology company has no approved drugs but has six mid-to-late stage clinical trials ongoing for potential cancer therapies. Board director Bruce Kovner purchased 910,000 shares on June 29 and currently controls more than 10 percent of the company. Board chairman Keith Gollust purchased 150,000 shares on June 29 and currently controls 2,015,348 shares of the company. CEO Safi Bahcall purchased 10,000 shares on June 29 and currently holds 2,343,135 shares of the company. Vice President of Clinical Research Vojo Vukovic purchased 3,000 shares on June 29 and currently holds 25,249 shares of the company. Synta’s shares were trading at $6.39 in midday trading Tuesday, up from a previous close of $5.77.