WALTHAM, Mass., March 4, 2022 /PRNewswire/ -- Syndax Pharmaceuticals, Inc. ("Syndax," the "Company" or "we") (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that in connection with the hiring, announced on March 1, 2022, of Catherine Madigan, M.D., as Chief Medical Officer, Dr. Madigan received an inducement award to purchase up to 180,000 shares of common stock. The stock option has an exercise price per share of $16.06, the closing price of the Company's common stock on the Nasdaq Global Select Market on March 1, 2022 and 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 Dr. Madigan's continued service relationship with Syndax through the applicable vesting dates. Syndax's Board of Directors approved the award as inducement material to Dr. Madigan's employment in accordance with NASDAQ Listing Rule 5635(c)(4).
About Syndax Pharmaceuticals, Inc.
Syndax Pharmaceuticals is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. The Company's pipeline includes SNDX-5613, a highly selective inhibitor of the Menin–MLL binding interaction, axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor, and entinostat, a class I HDAC inhibitor. For more information, please visit www.syndax.com or follow the Company on Twitter and LinkedIn.
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SOURCE Syndax Pharmaceuticals, Inc.