Syndax says sufficient cash runway to fund operations through 2026

In the fourth quarter of 2023, Syndax issued 12,432,431 shares of its common stock at $18.50 per share. Additionally in the quarter, the company sold 2,719,744 shares from its ATM facility. Aggregate net proceeds from these offerings were approximately $258.1M after deducting underwriting discounts and commissions and estimated offering expenses payable by Syndax. With these proceeds, the company now believes that it has sufficient cash runway to fund its clinical and commercial operations through 2026. “With positive pivotal data readouts for both revumenib and axatilimab and subsequent presentations at the American Society of Hematology Annual Meeting, 2023 was truly a landmark year for Syndax,” said Michael Metzger, CEO. “We are working with the FDA during their review of our regulatory submissions while diligently preparing for the potential launch of two first- and best-in-class products in the U.S. in 2024. We look forward to continuing to broadly expand revumenib and axatilimab beyond their first approvals and into additional indications which have the potential to deliver meaningful clinical benefit.”