WALTHAM, Mass., March 27, 2019 /PRNewswire/ -- Syndax
Pharmaceuticals, Inc. ("Syndax" or the "Company") (Nasdaq: SNDX), a clinical stage biopharmaceutical company developing an
innovative pipeline of cancer therapies, today announced that it has entered into an agreement with Biotechnology Value Fund,
L.P. ("BVF") and other leading life sciences investors for the purchase of 4,366,666 shares of common stock at a purchase price
of $6.00 per share, representing a premium of 30% to the share price as of market close on
Tuesday, March 26, as well as warrants to purchase up to 2,183,331 shares of common stock at an
exercise price of $12.00 per share, and warrants to purchase up to 2,183,335 shares of common stock
at an exercise price of $18.00 per share.
Syndax anticipates aggregate gross proceeds from the offering will be approximately $26.2 million (excluding any
proceeds to be received upon exercise of the warrants). Closing of the transaction is expected to occur on or about March 29, 2019.
The securities described above are being offered by Syndax pursuant to a shelf registration statement previously filed with
the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on April 20, 2017. A final prospectus
supplement related to the offering will be filed with the SEC, and will be available on the SEC's website located
at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there
be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of such state. Any offering of the securities under the resale registration statement
will only be by means of a prospectus.
About Syndax Pharmaceuticals, Inc.
Syndax Pharmaceuticals is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer
therapies. The Company is developing its lead product candidate, entinostat, a once-weekly, oral, small molecule, class I HDAC
inhibitor, in combination with exemestane and several approved PD-1/PD-(L)1 antagonists. The Company's pipeline also includes
SNDX-6352, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor, as well as a portfolio of potent
and selective inhibitors targeting the binding interaction of Menin with MLL-r, including its lead candidate SNDX-5613. For more
information, please visit www.syndax.com or follow the Company on Twitter and LinkedIn.
Syndax's 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. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend," "believe" and similar expressions
(as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify
forward-looking statements. These forward-looking statements are based on Syndax's expectations and assumptions as of the date of
this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ
materially from these forward-looking statements. Forward-looking statements contained in this press release include, but are not
limited to, statements about the anticipated gross proceeds and closing of the registered direct offering. Many factors may cause
differences between current expectations and actual results including a failure to satisfy closing conditions. Other factors that
may cause Syndax's actual results to differ from those expressed or implied in the forward-looking statements in this press
release are discussed in Syndax's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors"
sections contained therein. Except as required by law, Syndax assumes no obligation to update any forward-looking statements
contained herein to reflect any change in expectations, even as new information becomes available.
Syndax Contacts
Investor Contact
Melissa Forst
Argot Partners
melissa@argotpartners.com
Tel 212.600.1902
Media Contact
David Rosen
Argot Partners
david.rosen@argotpartners.com
Tel 212.600.1902
SNDX-G
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SOURCE Syndax Pharmaceuticals