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Cancer biotech Syndax Pharmaceuticals sets terms for $60 million IPO

By: Renaissance Capital
Posted: 6/5/2014 9:07:00 AM
Referenced Stocks: SNDX

Syndax Pharmaceuticals, a late-stage biotech developing a novel therapy for resistant breast cancer, announced terms for its IPO on Thursday. The Waltham, MA-based company plans 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 command a fully diluted market value of $179 million. Syndax Pharmaceuticals, which was founded in 2005, plans to list on the NASDAQ under the symbol SNDX. It initially filed confidentially on November 15, 2013. Deutsche Bank and Jefferies are the joint bookrunners on the deal.