Research Desk Line-up: Brainstorm Cell Therapeutics Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 19, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for Syndax Pharmaceuticals, Inc. (NASDAQ: SNDX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SNDX. The Company announced on October 17, 2017, that it has entered into a license agreement with Allergan PLC's subsidiary, Vitae Pharmaceuticals, Inc., pursuant to which Allergan granted Syndax with the exclusive worldwide license to a portfolio of preclinical, orally-available small molecule inhibitors of the interaction of Menin with the Mixed Lineage Leukemia (MLL) protein. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Brainstorm Cell Therapeutics Inc. (NASDAQ: BCLI) for due-diligence and potential coverage as the Company announced on October 17, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Brainstorm Cell Therapeutics when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SNDX; also brushing on BCLI. Go directly to your stock of interest and access today's free coverage at:

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These compounds have potential application in the treatment of a genetically-defined subset of acute leukemias with chromosomal rearrangements in the MLL gene ("MLL-r").

Terms of the Agreement

  • As per the agreement, Syndax will make a one-time upfront payment to Allergan;

  • Allergan will receive development and commercial stage milestones and tiered royalties on net sales of commercialized products;

  • Syndax will initiate clinical studies in 2019. It will be responsible for development, manufacturing, and global commercialization of the portfolio.

Agreement Likely to Enhance Long-Term Value of Syndax

Briggs W. Morrison, M.D., Chief Executive Officer of Syndax, expressed that this agreement represents another strategic addition to the Company's pipeline that is believed to enhance the long-term value of Syndax. Briggs added that the Company is well positioned to develop this unique product portfolio which holds the potential to significantly change the treatment paradigm for acute leukemia patients harboring MLL translocations.

Menin-MLL-r Compounds Can Serve as Effective Oral Therapeutic Option for MLL-r-Driven Leukemias Patients

Michael L. Meyers, M.D., Ph.D., Chief Medical Officer of Syndax, stated that the Menin-MLL-r interaction is thought to play a central role in the pathology of acute leukemia patients with MLL translocations. Michael believes that this portfolio of compounds holds the potential to serve as an effective oral therapeutic option for pediatric and adult patients with MLL-r-driven leukemias.

Syndax Recent Announcement

On the same date, Syndax declared that it has agreed to sell 2,021,018 shares of its common stock to Biotechnology Value Fund, L.P. and certain of its affiliates in a registered direct offering. Syndax anticipates aggregate gross proceeds from the offering will be approximately $25.0 million. The closing of the transaction is subject to customary closing conditions.

What is MLL Rearranged (MLL-r) Leukemias?

Rearrangements of the MLL gene occur in 70%-80% of infant acute leukemias and up to 10% of adult acute leukemias. The protein products of MLL gene rearrangements require interaction with a protein called Meninin order to drive leukemic cancer growth. Disruption of the Menin-MLL-r interaction has been shown to halt the growth of MLL-r leukemic cells. MLL-r leukemias are routinely diagnosed through currently available genetic screening techniques in leukemic cells, but there are currently no approved therapies indicated for MLL-r leukemias.

About Syndax Pharmaceuticals, Inc.

Founded in 2005, Syndax Pharmaceuticals, Inc. is a late-stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. Syndax is headquartered in Waltham, Massachusetts.

About Vitae Pharmaceuticals

Established in 2001, Vitae Pharmaceuticals, Inc., a biotechnology company, focused on innovative development programs for dermatologic conditions in the United States. As of October 25, 2016, Vitae Pharmaceuticals, Inc. operates as a subsidiary of Allergan PLC.

Last Close Stock Review

On Wednesday, October 18, 2017, the stock closed the trading session at $12.05, slightly falling 0.90% from its previous closing price of $12.16. A total volume of 114.01 thousand shares have exchanged hands, which was higher than the 3-month average volume of 90.53 thousand shares. Syndax Pharma's stock price advanced 2.03% in the last one month and 8.27% in the past six months. Furthermore, since the start of the year, shares of the Company have skyrocketed 68.06%. The stock currently has a market cap of $257.03 million.

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SOURCE: Pro-Trader Daily