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

Rhea-AI Summary

Syndax Pharmaceuticals (NASDAQ: SNDX) has announced the granting of inducement awards under its 2023 Inducement Plan. The company, which focuses on developing cancer therapies, issued stock options to purchase up to 282,000 shares of common stock to 12 new employees on March 1, 2025.

The stock options feature a four-year vesting schedule, with 25% of shares vesting after the first year, followed by monthly vesting of 1/48th of the underlying shares over the subsequent 36 months. Continued employment with Syndax is required through the applicable vesting dates.

Positive

• Employee retention strategy implemented through stock options
• Expansion of workforce with 12 new hires

Negative

• Potential shareholder dilution from 282,000 new shares

NEW YORK, March 05, 2025 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on March 1, 2025 the Company granted inducement awards to purchase up to 282,000 shares of common stock to 12 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

FAQ

How many shares were granted in Syndax Pharmaceuticals' March 2025 inducement awards?

Syndax (SNDX) granted inducement awards to purchase up to 282,000 shares of common stock.

What is the vesting schedule for SNDX's March 2025 inducement stock options?

The options vest over 4 years: 25% after year one, then 1/48th monthly over 36 months.

How many employees received SNDX stock options in the March 2025 grant?

12 new employees received stock options under Syndax's 2023 Inducement Plan.

When did Syndax Pharmaceuticals (SNDX) issue the March 2025 inducement grants?

The inducement grants were issued on March 1, 2025.