WALTHAM, Mass. - Syndax Pharmaceuticals (NASDAQ:SNDX), a developer of cancer therapies, announced today the appointment of Aleksandra Rizo, M.D., Ph.D., to its Board of Directors. Dr. Rizo, a seasoned biopharmaceutical executive with a focus on hematology, will join the Science and Technology Committee, succeeding Dr. Briggs Morrison who stepped down on Tuesday.
Dr. Rizo's extensive experience includes leading the development of several hematology drugs from discovery to commercialization. Her background is expected to contribute significantly to Syndax's strategic transition to a commercial stage organization, as the company anticipates the potential approval and launch of two novel treatments in 2024.
Dennis Podlesak, Chairman of Syndax's Board, expressed confidence in Dr. Rizo's ability to provide valuable insights and guidance. He also acknowledged the contributions of Dr. Morrison, who has been instrumental in Syndax's growth.
Michael A. Metzger, CEO of Syndax, emphasized Dr. Rizo's deep understanding of myeloid diseases and her role in leading programs for clinically differentiated therapies. Her expertise is seen as invaluable for the upcoming launch and development of Syndax's medicines.
Dr. Rizo expressed excitement about joining Syndax at a transformative time for the company, citing the potential of revumenib and axatilimab to set new care standards within their disease areas.
Prior to joining Syndax, Dr. Rizo served as President and CEO of Vividion and held leadership roles at Geron (NASDAQ:GERN) Corporation and Celgene Corporation (NASDAQ:CELG). She also has a notable tenure with Janssen Research and Development, where she led clinical development and regulatory submission activities for various oncology drugs.
Dr. Rizo's academic credentials include an M.D. degree from the University Ss Cyril and Methodius in Macedonia and Ph.D. degrees in Stem Cell Biology from the University of Groningen and the University of Tokyo.
The information in this article is based on a press release statement from Syndax Pharmaceuticals.
InvestingPro Insights
As Syndax Pharmaceuticals (NASDAQ:SNDX) gears up for a crucial transition to a commercial stage with potential drug approvals on the horizon, the company's financial health and market performance offer additional context to its strategic moves. Syndax holds a stronger liquidity position than many of its peers, with more cash than debt on its balance sheet, which is a reassuring sign for stakeholders considering the company's upcoming developments.
InvestingPro Tips reveal that while Syndax has been grappling with weak gross profit margins, its liquid assets comfortably exceed its short-term obligations, indicating a level of financial resilience. Analysts have taken note of the company's prospects, with 8 analysts revising their earnings upwards for the upcoming period, reflecting optimism about Syndax's future performance despite expectations of net income decline this year.
Looking at the company's market performance, Syndax has experienced a large price uptick over the last six months, boasting a 43.82% return, which may interest investors looking for growth potential. Still, the company does not pay a dividend to shareholders, which could influence the investment decisions of those seeking regular income streams.
For those interested in a deeper dive into Syndax's financials and market data, InvestingPro offers additional insights, including a fair value estimation. With a market cap of $1,860M USD and a price to book ratio of 3.79 as of Q1 2024, the company's valuation metrics are crucial for potential investors. It is worth noting that the InvestingPro Fair Value is currently set at 16.5 USD, compared to analyst targets of 34.5 USD.
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