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

Rhea-AI Summary

Syndax Pharmaceuticals (Nasdaq: SNDX) announces the grant of inducement awards to a new employee under the 2023 Inducement Plan, allowing the purchase of up to 8,600 shares of common stock. The stock options will vest over four years, subject to the employee's continued service relationship with Syndax.

WALTHAM, Mass., Jan. 5, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on January 1, 2024 the Company granted inducement awards to purchase up to 8,600 shares of common stock to one new employee 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 

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SOURCE Syndax Pharmaceuticals, Inc.

FAQ

What did Syndax Pharmaceuticals announce on January 5, 2024?

Syndax Pharmaceuticals announced the grant of inducement awards to a new employee under the 2023 Inducement Plan.

How many shares of common stock can the new employee purchase?

The new employee can purchase up to 8,600 shares of common stock.

What is the vesting period 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.