Synta Pharmaceuticals Corp. (SNTA)

[tob999]

Ah..i see where SNTA have plentiful cash on hand. They have a $885M deal with GlaxoSmithKline (GSK) dating back to 2007! Plus 40-50% share of operating profits and also royalties.

Under the terms of the collaborative agreement with GSK, Synta is eligible for a total of $585 million in pre-commercial milestone payments. These miletsones are related to operational progress, clinical progress, or regulatory filings and outcomes in melanoma and other cancer indications

In addition to the above pre-commercial milestone payments, Synta is eligible for $300 million in sales milestones, 40-50% share of operating profits in the United States, and double-digit royalties on sales outside the United States. Synta has earned a total of $120 million in payments from GSK to date, including the $80 million up front payment in 2007 and the $40 million to date in 2008.

http://ir.syntapharma.com/phoenix.zhtml?c=147988&p=irol-newsArticle&ID=1235544