Synta Pharmaceuticals Corp. (SNTA) reported a narrower fourth-quarter net loss of $7.04 million or $0.21 per share compared with $25.95 million or $0.77 per share a year ago.
On average, 5 analysts polled by Thomson Reuters expected loss per share of $0.25 for the quarter. Analysts' estimate typically excludes one-time items.
In the fourth quarter of 2009, Synta recognized total collaboration revenue of $4.68 million compared with net revenue of $0.64 million for the same period in 2008. Four analysts estimated revenues of $4.13 million for the quarter.
Additionally, based on the company's current operating plans, Synta Pharmaceuticals estimates its cash resources inclusive of proceeds from its January 2010 public offering, together with expected research and development reimbursements and milestone payments in connection with certain preclinical and clinical achievements under the Roche deal, would be sufficient to fund the company's operations into 2012.
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