Synta's shares fall after cancer drug shows less benefit

[riky]

Synta's shares fall after cancer drug shows less benefit

By Vrinda Manocha (Reuters) - Shares of Synta Pharmaceuticals Corp fell 21 percent on Monday after updated data from a mid-stage lung cancer trial showed that its drug had less clinical benefit than previously reported. The drug, ganetespib, reduced the chance of death in patients by 25 percent, lower than the 39 percent the company announced in June from an earlier analysis. The company presented the latest data over the weekend. "The magnitude of the survival benefit is getting smaller," Stifel Nicolaus analyst Brian Klein told Reuters. "The risk for the drug's success has gone up. ...

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