Syndax Pharmaceuticals Inc Stock Price, News & Analysis

Syndax Pharmaceuticals reported significant advancements in its clinical trials and a financial update for Q4 and full-year 2022. Key highlights include anticipated topline data from the AUGMENT-101 trial for revumenib expected in Q3 2023 and from the AGAVE-201 trial for axatilimab expected mid-2023. The company is on track to submit two U.S. regulatory filings by the end of 2023. Financially, Syndax reported a net loss of $39.2 million for Q4 2022 and $149.3 million for the full year. The company had cash reserves totaling $481.3 million as of year-end 2022, which supports ongoing R&D activities.

Syndax Pharmaceuticals, Inc. (Nasdaq: SNDX) announced that it will report its fourth quarter and year-end 2022 financial results on February 28, 2023, after the U.S. market close. The management will conduct a conference call and live audio webcast at 4:30 p.m. ET the same day to discuss these results and provide a business update. Investors can access the webcast through the company's website and a replay will be available 24 hours after the call for 90 days. Syndax is focused on developing cancer therapies, with its pipeline including revumenib and axatilimab, which are in pivotal trials.

Syndax Pharmaceuticals, Inc. (Nasdaq: SNDX) announced participation in several upcoming investor conferences. Key events include a fireside chat at the Citi 2023 Virtual Oncology Leadership Summit on February 21, a session at Cowen's 43rd Annual Healthcare Conference on March 6, a panel discussion on leukemia at the same conference on March 8, and another fireside chat at Barclays Global Healthcare Conference on March 15. Live webcasts of these discussions will be accessible via the Company’s investor website, where replays will also be available for a limited time. Syndax is focused on developing innovative cancer therapies, with key candidates currently in pivotal trials.

Syndax Pharmaceuticals, Inc. (Nasdaq: SNDX) announced that CEO Michael A. Metzger will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 10:30 a.m. PT. The presentation can be accessed via a live webcast on the company’s Investor section of its website, with a replay available for a limited time. Syndax is focused on developing innovative cancer therapies, including revumenib (SNDX-5613) and axatilimab, both currently in pivotal trials.

Syndax Pharmaceuticals announced the successful closing of its public offering of 7,840,909 shares at a price of $22.00 per share, totaling $172.5 million in gross proceeds. The offering included the full exercise of an underwriters' option for an additional 1,022,727 shares. Syndax now has 68,100,918 shares outstanding. The shares were issued under a previously effective 'shelf' registration statement with the SEC. Major underwriters included Goldman Sachs, J.P. Morgan, and Cowen.

Syndax Pharmaceuticals (SNDX) presented positive data from the Phase 1 AUGMENT-101 trial for its oral menin inhibitor, revumenib, during the ASH Annual Meeting. The trial showed a 30% CR/CRh rate in the efficacy evaluable population and a 53% overall response rate among 60 patients. Notably, 75% of patients who underwent stem cell transplants remained in remission. Revumenib has been granted Breakthrough Therapy Designation for treating relapsed/refractory acute leukemia. The company aims to report top-line Phase 2 data by Q3 2023 and submit a New Drug Application by the end of 2023.

Syndax Pharmaceuticals announced the hiring of Steve M. Sabus as Chief Commercial Officer on December 5, 2022. As part of this appointment, Sabus received an inducement award to purchase up to 220,000 shares of common stock at an exercise price of $25.44, the closing price on his hiring date. The award will vest over four years, with 25% vesting after one year and the remainder vesting monthly thereafter, contingent on his continued employment. This award was approved by Syndax's Board of Directors in line with NASDAQ Listing Rule 5635(c)(4).

Syndax Pharmaceuticals has priced an underwritten public offering of 6,818,182 shares of its common stock at $22.00 per share. The total gross proceeds from this offering are expected to reach approximately $150 million, excluding underwriting discounts and expenses. Additionally, underwriters have a 30-day option to purchase up to 1,022,727 additional shares. This offering is set to close on December 9, 2022, pending customary conditions. The shares are being offered under an effective registration statement with the SEC.

Syndax Pharmaceuticals plans to offer and sell $150 million of common stock in an underwritten public offering. The company will grant underwriters a 30-day option to purchase up to an additional 15% of shares sold. Goldman Sachs, J.P. Morgan, and Cowen are managing the offering. This move is part of a shelf registration previously filed with the SEC. The proceeds are expected to bolster Syndax's cancer therapy pipeline, which includes pivotal trials for revumenib and axatilimab. However, there are risks regarding market conditions and offering completion.