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 granted inducement awards to eight new employees. The awards consist of stock options to purchase up to 119,700 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 shares vesting monthly at a rate of 1/48th over the subsequent 36 months. The vesting is contingent upon continued employment with Syndax.

NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company advancing innovative cancer therapies, today announced that on June 1, 2025 the Company granted inducement awards to purchase up to 119,700 shares of common stock to eight 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 advancing innovative 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

What inducement grants did SNDX announce on June 5, 2025?

Syndax Pharmaceuticals announced stock options to purchase up to 119,700 shares of common stock granted to eight new employees under their 2023 Inducement Plan.

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

The stock options vest over 4 years, with 25% vesting after one year and the remaining vesting monthly at 1/48th over 36 months, subject to continued employment.

How many new employees received stock options from Syndax Pharmaceuticals in June 2025?

Eight new employees received inducement stock option grants from Syndax Pharmaceuticals.

What is Syndax Pharmaceuticals' main business focus?

Syndax Pharmaceuticals is a commercial-stage biopharmaceutical company that focuses on developing innovative cancer therapies.