Reverse Merger (Tables)

12 Months Ended

Dec. 31, 2016

Reverse Merger

Schedule of estimated purchase price

Number of shares of the combined company to be owned by Synta stockholders(1)		4,032,734
Multiplied by the fair value of Synta common stock(2)	$	9.48
Purchase price (in thousands)	$	38,236

(1)

Represents the number of shares of common stock of the combined company that Synta stockholders owned as of the closing of the merger pursuant to the Merger Agreement, including restricted stock awards and common stock underlying outstanding restricted stock units attributed to pre-combination services rendered by certain Synta employees and directors. This amount is calculated as 3,937,309 shares of Synta common stock outstanding as of July 22, 2016, including unvested restricted common stock, plus 95,425 shares of Synta common stock issuable pursuant to restricted stock units, net of tax withholdings, that vested immediately upon closing of the merger. The number of shares of common stock Synta issued to Madrigal stockholders was 7,253,655, calculated pursuant to the terms of the Merger Agreement based on Synta's common stock outstanding as of July 22, 2016.

(2)

The fair value of Synta common stock used in determining the purchase price was $9.48, which was derived from the $0.2709 per share closing price of Synta common stock on July 21, 2016, the current price at the time of the closing, adjusted for the 1-for-35 reverse stock split.

Schedule of allocation of total purchase price to acquired assets and liabilities assumed

        The allocation of the purchase price to the acquired assets and liabilities assumed of Synta based on the fair values as of July 22, 2016 is as follows, including measurement period adjustments since the fair values presented in the Company's Form 10-Q for the quarter ended September 30, 2016 (in thousands):

	July 22, 2016			Measurement period adjustments			July 22 2016 (As adjusted)
Cash, cash equivalents and marketable securities	$	42,611					$	42,611
Prepaid expenses and other currents assets		1,715						1,715
Property and equipment, net		482			65			547
Accounts payable, accrued expenses and other liabilities		(7,019	)					(7,019	)
Term loans and capital lease obligations		(18	)					(18	)
In-process research and development		150			250			400
Goodwill		315			(315	)		—
Net assets acquired	$	38,236					$	38,236