Syndax Pharmaceuticals' stock plummeted despite its leukemia drug meeting key trial goals.

Syndax Pharmaceuticals' stock fell 22.1% to $16.96 after its drug, revumenib, showed a 23% complete remission rate in patients with a specific type of acute myeloid leukemia (AML). Despite the positive outcome meeting primary endpoints, with patients in remission for a median of 4.7 months, the stock dropped. Syndax plans to submit an application for the drug in the first half of 2025 and expects approval for another use by the end of 2024.

November 12, 2024
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