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

Rhea-AI Summary

Syndax Pharmaceuticals (SNDX) grants inducement awards to new employees, offering up to 164,200 shares of common stock under the 2023 Inducement Plan.

WALTHAM, Mass., April 5, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on April 1, 2024 the Company granted inducement awards to purchase up to 164,200 shares of common stock to ten 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 is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. Highlights of the Company's pipeline include revumenib, a highly selective inhibitor of the Menin–KMT2A binding interaction, and axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor. For more information, please visit www.syndax.com or follow the Company on X (formerly Twitter) and LinkedIn.

Syndax Contact

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

View original content:https://www.prnewswire.com/news-releases/syndax-pharmaceuticals-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302107801.html

SOURCE Syndax Pharmaceuticals, Inc.

How many shares of common stock were granted to new employees by Syndax Pharmaceuticals (SNDX)?

Syndax Pharmaceuticals granted up to 164,200 shares of common stock to ten new employees.

What is the vesting schedule for the stock options granted by Syndax Pharmaceuticals (SNDX)?

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.

Under what plan were the inducement awards granted by Syndax Pharmaceuticals (SNDX)?

The inducement awards were granted under the Company's 2023 Inducement Plan.

How many new employees received inducement awards from Syndax Pharmaceuticals (SNDX)?

Ten new employees received inducement awards from Syndax Pharmaceuticals.