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

Syndax Pharmaceuticals, a clinical-stage biopharmaceutical enterprise located in Waltham, Massachusetts, disclosed on June 3, 2024, that it has granted inducement awards to fifty-three new employees. These awards, issued on June 1, 2024, include options to purchase a total of 499,200 shares of common stock under the Company's 2023 Inducement Plan. 

The stock options provided to these new employees are structured to vest over a period of four years. Initially, 25% of the shares will vest on the one-year anniversary of the vesting commencement date. Subsequently, the remaining shares will vest monthly in equal installments over the following 36 months. This vesting schedule is contingent on the employees maintaining their service relationship with Syndax throughout the specified vesting periods.

Syndax Pharmaceuticals is focused on the development of innovative cancer therapies. The company's developmental pipeline features noteworthy assets such as revumenib and axatilimab. Revumenib is distinguished as a highly selective menin inhibitor, while axatilimab is a monoclonal antibody targeting and blocking the colony stimulating factor 1 (CSF-1) receptor.

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