Stock News Buzz: Syndax Pharmaceuticals (NASDAQ:SNDX)

Syndax Pharmaceuticals (NASDAQ:SNDX) holds 26.08 million shares outstanding and 24.83 million shares are floated in market. The company revealed recent move of -5.15% to $4.6.  Around 94735 shares traded in most recent trading session compared to an average volume of 148.97K. The stock changed with return -9.98% over last weekly period.

 The monthly performance of stock was observed at -26.75%. SNDX’s shares are moving at 26.72% for the quarter and managed a -66.91% return over the course of the past year and is now at 3.37% since this point in 2018. 

Syndax Pharmaceuticals (NASDAQ:SNDX), a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies, notified that it has entered into an agreement with Biotechnology Value Fund, L.P. (“BVF”) and other leading life sciences investors for the purchase of 4,366,666 shares of common stock at a purchase price of $6.00 per share, representing a premium of 30% to the share price as of market close on Tuesday, March 26, as well as warrants to purchase up to 2,183,331 shares of common stock at an exercise price of $12.00 per share, and warrants to purchase up to 2,183,335 shares of common stock at an exercise price of $18.00 per share.

Syndax anticipates aggregate gross proceeds from the offering will be approximately $26.2 million (excluding any proceeds to be received upon exercise of the warrants). Closing of the transaction is expected to occur on or about March 29, 2019. 

 Its quarter to quarter sales remained -66.70%. SNDX stock changed at -26.75% distance from its 200-day moving average. On a similar note, the stock marked distance of -20.90% from its 50-day moving average and moved -18.29% away from its 20-day moving average. The average volatility for the week and month was at 6.08% and 6.86% respectively. 

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