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

Rhea-AI Summary

Syndax Pharmaceuticals (SNDX) announced the granting of inducement awards to purchase up to 127,300 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.

WALTHAM, Mass., Feb. 2, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on February 1, 2024 the Company granted inducement awards to purchase up to 127,300 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 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 February 1, 2024?

Syndax Pharmaceuticals announced the granting of inducement awards to purchase up to 127,300 shares of common stock to eight new employees under the Company's 2023 Inducement Plan.

How many shares of common stock were granted to the new employees?

Syndax Pharmaceuticals granted up to 127,300 shares of common stock to eight new employees.

What is the ticker symbol for Syndax Pharmaceuticals?

The ticker symbol for Syndax Pharmaceuticals is SNDX.

How will the stock options vest?

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.