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

Rhea-AI Summary

Syndax Pharmaceuticals (SNDX) announced the granting of inducement awards to five new employees on January 1, 2025. The awards consist of stock options to purchase up to 123,100 shares of common stock under the Company's 2023 Inducement Plan. The vesting schedule spans four years, with 25% of shares vesting after the first year and the remaining 1/48th vesting monthly over the subsequent 36 months, contingent on continued employment with Syndax.

Positive

• Addition of five new employees indicates company growth
• Implementation of employee retention strategy through stock options

Negative

• Potential future dilution of existing shareholders due to 123,100 new stock options

WALTHAM, Mass., Jan. 3, 2025 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on January 1, 2025 the Company granted inducement awards to purchase up to 123,100 shares of common stock to five 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 developing an innovative pipeline of 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 

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SOURCE Syndax Pharmaceuticals, Inc.

FAQ

How many shares were granted in SNDX's January 2025 inducement awards?

Syndax Pharmaceuticals granted inducement awards to purchase up to 123,100 shares of common stock.

What is the vesting schedule for SNDX's January 2025 inducement grants?

The stock options vest over four years, with 25% vesting after one year and 1/48th vesting monthly over the following 36 months.

How many employees received SNDX inducement grants in January 2025?

Five new employees received inducement grants under Syndax's 2023 Inducement Plan.

Under which plan were SNDX's January 2025 inducement awards granted?

The inducement awards were granted under Syndax Pharmaceuticals' 2023 Inducement Plan.