SEC Filing Summary: Synta Pharmaceuticals Corp. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Synta Pharmaceuticals Corp. on April 22, 2011, reporting events occurring on April 19, 2011. The filing discloses the entry into a material definitive agreement regarding the company's principal executive offices located at 45 Hartwell Avenue, Lexington, Massachusetts.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial data disclosed relates to the terms of a lease amendment:
- Annual Base Rent (Extended Term): $852,070.00
- Lease Term Extension: From November 30, 2011, to November 30, 2016.
- Property Size: 34,520 square feet of office and laboratory space.
Material Changes
The material change reported is the execution of a Third Amendment to the Commercial Lease with Duffy Hartwell LLC. This amendment extends the lease term by five years, effective December 1, 2011. The agreement also grants Synta one five-year option to further extend the lease, with rent determined by the greater of the then-current rent or the prevailing market rate.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of general business risks. The primary contingency noted is the future rent obligation under the extension option, which is tied to market rates if exercised.
Key Facts for Investor Verification
- Verify the total annual rent obligation of $852,070.00 against the company's cash flow projections for the 2011-2016 period.
- Confirm the effective date of the lease extension (December 1, 2011) and the expiration date (November 30, 2016).
- Review the terms of the five-year renewal option to understand potential future rent escalations based on market rates.
- Note that the filing text does not provide broader financial performance data; refer to the most recent Form 10-Q or 10-K for comprehensive financial statements.