Syndax Announces Proposed Public Offering of Common Stock
May 23 2017 - 4:48PM
Syndax Pharmaceuticals, Inc. (Nasdaq:SNDX) announced today that it
plans to offer and sell, subject to market and other conditions,
$50 million of its common stock in an underwritten public offering.
There can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the offering. Syndax also
expects to grant the underwriters a 30-day option to purchase up to
an additional 15% of the number of shares sold in the public
offering. All of the shares in the proposed offering are to be sold
by Syndax.
Morgan Stanley, Citigroup Global Markets Inc. and Cowen are
acting as joint book-running managers for the offering. The shares
are being offered pursuant to a “shelf” registration statement
previously filed and declared effective by the Securities and
Exchange Commission (SEC). A preliminary prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and will be available on the website of the SEC at
www.sec.gov. When available, copies of the preliminary prospectus
supplement and accompanying prospectus relating to the offering may
be obtained from: Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014, from Citigroup Global Markets Inc., c/o Broadridge Financial
Services, 1155 Long Island Avenue, Edgewood, NY 11717, or by email
at prospectus@citi.com or by phone at (800) 831-9146, or from Cowen
and Company, LLC, c/o Broadridge Financial Services, Attention:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
or by phone (631) 274-2806 or by fax (631) 254-7140.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer, if at all, will be made only by
means of a prospectus supplement and accompanying prospectus, which
are a part of the effective registration statement.
About Syndax Pharmaceuticals, Inc.
Syndax is a clinical stage biopharmaceutical company developing
an innovative pipeline of cancer therapies. Syndax’s lead product
candidate, entinostat, is currently being evaluated in combination
with exemestane for advanced hormone receptor positive, human
epidermal growth factor receptor 2 negative breast cancer or as a
combination treatment with approved PD-1 antagonists for a variety
of tumors, including non-small cell lung cancer, colorectal cancer,
melanoma, triple-negative breast cancer and ovarian cancer. The
company’s second product candidate, SNDX-6352, is a monoclonal
antibody that blocks the CSF-1 receptor and may also block the
function of immune suppressive cells in the tumor
microenvironment.
Cautionary Note on Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to Syndax’s expectations
regarding the completion, timing and size of the proposed public
offering. These statements are subject to significant risks and
uncertainties and actual results could differ materially from those
projected. Syndax cautions investors not to place undue
reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without
limitation, risks and uncertainties related to market conditions
and satisfaction of customary closing conditions related to the
proposed public offering. There can be no assurance that Syndax
will be able to complete the proposed public offering on the
anticipated terms, or at all. Risks and uncertainties
relating to Syndax and its business can be found in Syndax’s
filings with the U.S. Securities and Exchange Commission, including
the “Risk Factors” sections contained therein, as well as the risks
identified in the registration statement and the preliminary
prospectus supplement relating to the offering. These
forward-looking statements are based on Syndax’s expectations and
assumptions as of the date of this press release. Except as
required by law, Syndax undertakes no duty or obligation to update
any forward-looking statements contained in this press release as a
result of new information, future events or changes in Syndax's
expectations.
Investor Contact
Heather Savelle
Argot Partners
heather@argotpartners.com
Tel 646.395.3734
Media Contact
Eliza Schleifstein
Argot Partners
eliza@argotpartners.com
Tel 973.361.1546
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