H.C. Wainwright has reaffirmed its 'buy' rating on Syndax Pharmaceuticals (NASDAQ: SNDX) after the company released encouraging data from its clinical trial targeting acute myeloid leukaemia (AML). The analyst note highlighted the potential of Syndax's investigational therapy to address a significant unmet need in this aggressive blood cancer. Shares of Syndax rose in after-hours trading on the news, though the broader market remained mixed.
AML is a rapidly progressing cancer of the blood and bone marrow, with a five-year survival rate of around 30% in adults. Current standard treatments often involve intensive chemotherapy, which many older patients cannot tolerate. Syndax's drug candidate aims to offer a more targeted approach, potentially improving outcomes for those with limited options.
For UK investors, Syndax is not listed on the London Stock Exchange, meaning direct share purchases require a brokerage that offers US trading. However, exposure can be gained through biotech-focused exchange-traded funds (ETFs) or American Depositary Receipts (ADRs). The FTSE 100 closed flat on the day, with the healthcare sector showing modest gains as investors awaited further clarity on drug approvals.
Analysts at H.C. Wainwright noted that while the AML data is promising, the drug remains in clinical development and faces regulatory hurdles. 'Positive early-stage results are encouraging, but investors should be aware of the high-risk nature of biotech stocks,' commented one market strategist. The firm did not provide a specific price target in its latest note.
Syndax is also developing treatments for other cancers, including solid tumours, which could broaden its market appeal if successful. For UK pension holders, direct exposure is unlikely, but broader market movements in the healthcare sector may influence fund performance. The company is expected to release further trial data later this year.
Source: H.C. Wainwright research note