Syndax Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Syndax Pharmaceuticals (NASDAQ: SNDX), a commercial-stage biopharmaceutical company focused on cancer therapies, has granted inducement stock options to 11 new employees. The awards, issued under the Company's 2023 Inducement Plan, allow for the purchase of up to 167,400 shares of common stock.

The stock options feature a four-year vesting schedule, with 25% of shares vesting after one year and the remaining vesting monthly at a rate of 1/48th over the subsequent 36 months, contingent on continued employment.

NEW YORK, Sept. 05, 2025 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company advancing innovative cancer therapies, today announced that on September 1, 2025 the Company granted inducement awards to purchase up to 167,400 shares of common stock to 11 new employees under the Company's 2023 Inducement Plan. The stock options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and 1/48th of the underlying shares vesting monthly thereafter over 36 months, subject to the employee's continued service relationship with Syndax through the applicable vesting dates.

About Syndax
Syndax Pharmaceuticals is a commercial-stage biopharmaceutical company advancing innovative cancer therapies. Highlights of the Company's pipeline include Revuforj^® (revumenib), an FDA-approved menin inhibitor, and Niktimvo™ (axatilimab-csfr), an FDA-approved monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor. Fueled by our commitment to reimagining cancer care, Syndax is working to unlock the full potential of its pipeline and is conducting several clinical trials across the continuum of treatment. For more information, please visit www.syndax.com or follow the Company on X and LinkedIn.

Syndax Contact

Sharon Klahre 
Syndax Pharmaceuticals, Inc. 
sklahre@syndax.com
Tel 781.684.9827

FAQ

What type of stock options did Syndax Pharmaceuticals (SNDX) grant in September 2025?

Syndax granted inducement awards to purchase up to 167,400 shares of common stock under their 2023 Inducement Plan to 11 new employees.

How do the vesting terms work for Syndax's September 2025 inducement grants?

The options vest over 4 years, with 25% vesting after one year and the remaining 1/48th vesting monthly over 36 months, subject to continued employment.

How many new employees received Syndax stock options in September 2025?

11 new employees received inducement stock option awards from Syndax Pharmaceuticals.

What is the purpose of Syndax's inducement grants under NASDAQ Rule 5635(c)(4)?

The inducement grants are designed to attract and retain new employees by providing them with equity incentives in the company.