SNDX - Syndax Pharmaceuticals: Updated Analysis After Reporting Interim Phase 1 Data
- Syndax Pharmaceuticals (SNDX) stock price fell 31% to $13.42 on April 20th, 2021 after reporting interim Phase 1 data on its genetically defined leukemia asset SNDX-5613.
- Investors seemed disappointed in the number of complete responses, some potential safety issues, and the specter of competition from Kura Oncology’s (KURA). The shares have subsequently rebounded more than 20%.
- With cash of $271 million, an upcoming initiation of a registrational study for SNDX-5613 and a pivotal trial for its GvHD compound axatilimab underway, Syndax merited a deeper dive.
- A full investment analysis follows below.
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Syndax Pharmaceuticals: Updated Analysis After Reporting Interim Phase 1 Data