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William Meury has resigned from the board of directors of Syndax Pharmaceuticals Inc. (NASDAQ:SNDX), effective Tuesday, following his acceptance of the positions of president, chief executive officer, and board member at Incyte (NASDAQ:INCY) Corporation, a collaboration partner of Syndax for Niktimvo (axatilimab-csfr). The news comes as SNDX shares trade near their 52-week low of $8.58, having declined over 8% in the past week. According to InvestingPro data, the company maintains a strong liquidity position with cash exceeding debt levels.
The company stated in a press release that Meury’s departure was not due to any disagreement with Syndax regarding its operations, policies, or practices. Syndax Pharmaceuticals is headquartered in New York and is listed on The Nasdaq Stock Market LLC.
The information is based on a statement provided in a recent SEC filing. For comprehensive analysis and additional insights about SNDX, including detailed financial health metrics and analyst forecasts, investors can access the full research report on InvestingPro.
In other recent news, Syndax Pharmaceuticals has received Priority Review from the FDA for its supplemental New Drug Application for Revuforj, aiming to expand its use to treat relapsed or refractory mutant NPM1 acute myeloid leukemia. This development follows Revuforj’s initial FDA approval in 2024 for treating acute leukemia with KMT2A translocation. The application, supported by data from the AUGMENT-101 trial, has a target action date of October 25, 2025. Additionally, the BEAT AML trial reported a 67% complete remission rate for Revuforj in combination with venetoclax and azacitidine, showcasing promising results for newly diagnosed patients. The drug’s safety profile remained consistent, with tolerable adverse events reported. Syndax’s recent Phase 1 trial also indicated a 60% overall response rate in patients with NUP98-rearranged AML. Furthermore, Scotiabank (TSX:BNS) has raised its price target for Syndax to $17, reflecting strong sales of Revuforj and potential market expansion. The analyst noted the drug’s successful market launch and the potential competitive landscape with KURA’s upcoming drug application.
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