And as for being "high-risk," that's always true to some extent for any new biotech company, but the risk has dropped considerably this year due to (a) more STA-9090 patients being treated at higher doses with no serious safety concerns, (b) Synta's Hsp90 competition imploding due to its very significant safety issues, and (c) elesclomol's comeback.
Just for the record, most people that are on these message boards tend to be bullish and are hoping for positive results. Also, biotech stock tends to rise months before the catalyst such as study results (but shortly before those results are released it may drop a bit because of some people taking profits) and somtimes after positive results because also some people taking profits (if many already expected positive results or want to book gains on a profit on an unexptected exception results).
In particular with synta, expect it to slowly rise a couple months before study results which isnt expected until mid 2011 so expect to rise in early 2011.
Finally, Kovner cannot appear to trade on inside information when he bought, so that further makes me believe that any results will not be released for at least another 4-6 months.
In short, you shouldnt just sell because you are under water yet unless you can better use that money elsewhere otherwise stay in snta.