Synta Pharmaceuticals' (SNTA) president & CEO, Safi R. Bahcall, has resigned effective immediately.
A newly formed executive committee will run the business until a successor is hired.
The company discloses no reasons for Dr. Bahcall's departure.
The firm has been an underperformer for more than a year. Shares are down 48% since last February.
Mutual fund ownership has eroded from 176 to 133 over the past 4 quarters.