Chelsea, Synta planning follow-ons

Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) and Synta Pharmaceuticals Corp. (NASDAQ:SNTA) proposed follow-ons late Tuesday. JMP Securities; Needham; and Ladenburg Thalmann are underwriters for Chelsea's offering. The company's Northera droxidopa is under FDA review to treat symptomatic neurogenic orthostatic hypotension (NOH) with a Feb. 14 PDUFA date. Northera is an orally available synthetic precursor of norepinephrine.

Synta's offering is being underwritten by Jefferies. Synta's ganetespib is in the Phase III GALAXY-2 trial to treat non-small cell lung cancer (NSCLC), with interim data expected in 2H14; and in the Phase II ENCHANT-1 trial as first-line therapy for locally advanced or metastatic HER2-positive or triple-negative breast cancer, with initial data expected next month. Ganetespib is a small molecule heat shock protein 90 (Hsp90) inhibitor. ...