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