08 May 2018
"Syndax is off to a strong start in 2018 and we believe this momentum will carry us through the balance of what we expect will be a milestone-rich and potentially transformative year. This includes the progression free survival readout from our ongoing pivotal Phase 3 E2112 trial, for which results are expected in the third quarter," said
As of
First quarter 2018 research and development expenses increased to
General and administrative expenses totaled
For the three months ended
Today the Company provided operating expense guidance for the second quarter and full year 2018. For the second quarter and full year 2018, research and development expenses are expected to be
Conference Call and Webcast
In connection with the earnings release, Syndax's management team will host a conference call and live audio webcast at
The live audio webcast and accompanying slides may be accessed through the Events & Presentations page in the Investors section of the Company's website at www.syndax.com. Alternatively, the conference call may be accessed through the following:
Conference ID: 7087078
International Dial-in Number: 281-542-4259
Live webcast: https://edge.media-server.com/m6/p/f5ppmzsd
For those unable to participate in the conference call or webcast, a replay will be available for 30 days on the Investors section of the Company's website, www.syndax.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend," "believe" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Syndax's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the progress, timing, clinical development and scope of clinical trials and the reporting of clinical data for Syndax's product candidates, the potential use of our product candidates to treat various cancer indications, and Syndax's first quarter and full-year 2018 net cash used in research and development and total operating activities. Many factors may cause differences between current expectations and actual results including unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, failure of Syndax's collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes. Other factors that may cause Syndax's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Syndax's filings with the
SYNDAX PHARMACEUTICALS, INC. |
|||||
(unaudited) |
|||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||
March 31, |
December 31, |
||||
(In thousands) |
2018 |
2017 |
|||
Cash, cash equivalents, short-term and long-term investments |
$ 113,223 |
$ 133,220 |
|||
Total assets |
$ 119,957 |
$ 137,186 |
|||
Total liabilities |
$ 33,007 |
$ 32,867 |
|||
Total stockholders' equity (deficit) |
$ 86,950 |
$ 104,319 |
|||
Common stock outstanding |
24,697,944 |
24,390,033 |
|||
Common stock and common stock equivalents* |
28,904,776 |
28,139,705 |
|||
*Common stock and common stock equivalents: |
|||||
Common stock |
24,697,944 |
24,390,033 |
|||
Options to purchase common stock |
4,206,832 |
3,391,832 |
|||
Common stock warrants |
- |
357,840 |
|||
28,904,776 |
28,139,705 |
||||
SYNDAX PHARMACEUTICALS, INC. |
|||||
(unaudited) |
|||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||
Three Months Ended March 31, |
|||||
(In thousands, except share and per share data) |
2018 |
2017 |
|||
License fee revenue |
$ 379 |
$ 305 |
|||
Operating expenses: |
|||||
Research and development |
15,339 |
9,552 |
|||
General and administrative |
4,791 |
3,930 |
|||
Total operating expenses |
20,130 |
13,482 |
|||
Loss from operations |
(19,751) |
(13,177) |
|||
Other income, net |
353 |
206 |
|||
Net loss |
$ (19,398) |
$ (12,971) |
|||
Net loss attributable to common stockholders |
$ (19,398) |
$ (12,971) |
|||
Net loss per share attributable to common |
|||||
stockholders--basic and diluted |
$ (0.79) |
$ (0.71) |
|||
Weighted-average number of common stock |
|||||
used to compute net loss per share attributable |
|||||
to common stockholders--basic and diluted |
24,478,269 |
18,231,602 |
|||
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