Syndax Prices Public Offering of Common Stock
May 24 2017 - 7:22PM
Syndax Pharmaceuticals, Inc. (Nasdaq:SNDX) announced today the
pricing of an underwritten public offering of 3,750,000 shares of
its common stock at a price to the public of $13.25 per share. The
gross proceeds to Syndax from this offering, before deducting
underwriting discounts and commissions and estimated offering
expenses, are expected to be approximately $49.7 million. The
offering is expected to close on May 31, 2017, subject to customary
closing conditions. Additionally, Syndax granted the underwriters a
30-day option to purchase up to 562,500 additional shares of common
stock at the public offering price, less underwriting discounts and
commissions. All of the shares of common stock in the
offering will be sold by Syndax.
Morgan Stanley, Citigroup 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 have been filed
with the SEC and are available on the website of the SEC at
www.sec.gov. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering, when available,
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.
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 and timing of the 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 the satisfaction of customary closing
conditions related to the public offering. There can be no
assurance that Syndax will be able to complete the 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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