Syndax rises as FDA approves company's treatment for chronic graft-versus-host disease

Syndax Pharmaceuticals

15/08/2024 18:37

** Shares of Syndax Pharmaceuticals  SNDX.O  rise 4% to
$20.37 in afternoon trade 
    ** The U.S. FDA, late on Wednesday, approved Syndax and
partner Incyte's  INCY.O  drug Niktimvo for patients with
chronic graft-versus-host disease (GvHD)
    ** GvHD is a potentially fatal immune reaction that could
occur after a stem cell transplant
    ** Niktimvo is approved for use in adult and pediatric
patients after the failure of at least two prior lines of
therapy
    ** The approval offers a "differentiated mechanism" for
Niktimvo to compete with Sanofi's  SASY.PA  Rezurock in the
third-line treatment market - BTIG analysts
    ** Syndax and Incyte plan to make Niktimvo available in Q4
2024 and disclose pricing when it becomes available 
    ** Including session gains, stock down ~4% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))