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 announced inducement grants under NASDAQ Listing Rule 5635(c)(4). The company granted stock options to purchase up to 50,000 shares of common stock to four new employees under its 2023 Inducement Plan.

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

NEW YORK, April 04, 2025 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on April 1, 2025 the Company granted inducement awards to purchase up to 50,000 shares of common stock to four 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' (SNDX) April 2025 inducement awards?

Syndax granted options to purchase up to 50,000 shares of common stock.

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

Four new employees received stock options under the 2023 Inducement Plan.

Under which plan did Syndax (SNDX) issue its April 2025 inducement grants?

The grants were issued under Syndax's 2023 Inducement Plan.