Synta Pharmaceuticals Prices Public Offering of Common Stock

Net proceeds to Synta are expected to be approximately $28.6 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Synta. The offering is expected to close on or about January 11, 2012, subject to satisfaction of customary closing conditions. Synta has granted the underwriters a thirty (30) day option to purchase up to 1,050,000 additional shares to cover over-allotments, if any.

Jefferies & Company, Inc. is acting as the sole book-running manager for the offering, and Canaccord Genuity Inc. and Roth Capital Partners, LLC are acting as co-managers for the offering.

The securities described above are being offered by Synta pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission (SEC). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. A preliminary prospectus supplement related to the offering was filed with the SEC and is available on the SEC's website located at www.sec.gov . Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, by telephone at 877-547-6340, or by email at [email protected].