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Syndax Pharmaceuticals plans $25M direct offering

Syndax Pharmaceuticals Inc. agreed to sell 2,021,018 shares to Biotechnology Value Fund LP and certain affiliates in a registered direct offering.

The company is expecting about $25 million in gross proceeds based on an offering price of $12.37 per share, which is the closing price of Syndax's shares on the Nasdaq Global Select Market on Oct. 13.

BTIG LLC served as a capital markets advisor to Syndax in connection with the offering.