Breast cancer biotech Syndax Pharmaceuticals withdraws $60 million IPO

Syndax Pharmaceuticals, a late-stage biotech developing a novel therapy for treatment-resistant breast cancer, withdrew its plans for an initial public offering on Thursday.

In June 2014, the company filed to raise $60 million at a fully diluted market value of $179 million, but postponed its offering. In November 2014, it refiled with blank terms and updated financials for September 30, 2014.

Another cancer biotech is on the IPO calendar to price next week - TRACON Pharmaceuticals (TCON).

Based in Waltham, MA, TRACON was founded in 2005 and planned to list on the NASDAQ under the symbol SNDX. Deutsche Bank and Jefferies were set to be the joint bookrunners on the deal.