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

Rhea-AI Summary

Syndax Pharmaceuticals (SNDX) has announced the granting of inducement awards under its 2023 Inducement Plan. The company granted stock options to purchase up to 124,000 shares of common stock to six new employees on February 1, 2025. These stock options follow 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. The vesting is contingent upon continued employment with Syndax.

Positive

• Stock-based compensation aligns employee interests with shareholders
• Expansion of workforce indicates company growth with six new hires

Negative

• Potential shareholder dilution from 124,000 new shares

WALTHAM, Mass., Feb. 4, 2025 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on February 1, 2025 the Company granted inducement awards to purchase up to 124,000 shares of common stock to six 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 Syndax's (SNDX) February 2025 inducement awards?

Syndax Pharmaceuticals granted inducement awards to purchase up to 124,000 shares of common stock.

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

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 stock options in the February 2025 grant?

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

When did Syndax Pharmaceuticals (SNDX) issue its February 2025 inducement grants?

Syndax issued the inducement grants on February 1, 2025.