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Cancer biotech Syndax Pharmaceuticals postpones IPO

By: Renaissance Capital
Posted: 6/27/2014 8:53:00 AM
Referenced Stocks: SNDX

Syndax Pharmaceuticals, a late-stage biotech developing a novel therapy for treatment-resistant breast cancer, postponed its IPO on Friday. The company originally planned to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, it would have commanded a fully diluted market value of $179 million.

The Waltham, MA-based company was founded in 2005 and planned to list on the NASDAQ under the symbol SNDX. Syndax Pharmaceuticals initially filed confidentially on November 15, 2013. Deutsche Bank and Jefferies were set to be the joint bookrunners on the deal.