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

Rhea-AI Summary

Syndax Pharmaceuticals (Nasdaq: SNDX) grants inducement awards to new employees, offering up to 158,000 shares of common stock under the 2023 Inducement Plan.

WALTHAM, Mass., Dec. 1, 2023 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on December 1, 2023 the Company granted inducement awards to purchase up to 158,000 shares of common stock to nine 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 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-5635c4-302003097.html

SOURCE Syndax Pharmaceuticals, Inc.

What did Syndax Pharmaceuticals announce on December 1, 2023?

Syndax Pharmaceuticals announced the granting of inducement awards to purchase up to 158,000 shares of common stock to nine new employees under the Company's 2023 Inducement Plan.

How many shares of common stock were offered to new employees?

Syndax Pharmaceuticals offered up to 158,000 shares of common stock to nine new employees.

What is the vesting schedule for the stock options?

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.

What is the ticker symbol for Syndax Pharmaceuticals?

The ticker symbol for Syndax Pharmaceuticals is SNDX.