Syndax Pharmaceuticals (NASDAQ:SNDX) Issues Quarterly Earnings Results

Key Points

• EPS beat and revenue surge: Syndax reported a ($0.48) EPS that topped estimates by $0.11 and revenue rose 224% YoY, with combined Q1 sales topping $100 million driven by Revuforj ($48.9M) and NICTIMVO ($55M), both annualizing near $200M.
• Pipeline momentum: Frontline Revumenib pivotal Phase III trials (EVOLVE‑2, REVEAL) and the RAVEN Phase II are enrolling with Syndax expecting to be first to report pivotal menin‑inhibitor data, and two potentially transformative axatilimab Phase II readouts are targeted for Q4 2026.
• Strong cash runway and disciplined spending: The company held $352.1M in cash and marketable securities at quarter end and guided to roughly $400M in 2026 R&D+SG&A (ex ~$50M non‑cash stock comp), positioning it to keep investing while moving toward profitability.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) posted its earnings results on Thursday. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.11, Zacks reports. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. Syndax Pharmaceuticals's revenue was up 224.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.98) earnings per share.

Here are the key takeaways from Syndax Pharmaceuticals' conference call:

• Combined Q1 sales topped $100 million — Revuforj net revenue was $48.9M (double‑digit QoQ growth) and NICTIMVO net revenue was $55M (Syndax recorded $15.9M collaboration revenue), with both products annualizing near $200M.
• Revuforj is driving higher transplant rates in KMT2A — recent analysis shows nearly 50% of KMT2A patients are proceeding to stem‑cell transplant (up from ~33%), ~45% have restarted therapy post‑transplant so far, and management expects 70–80% long‑term, a dynamic the company calls a short‑term revenue headwind that should lengthen treatment durations and support sustainable growth.
• Frontline revumenib program advancing — global site activation and enrollment are underway in pivotal Phase III trials (EVOLVE‑2, REVEAL) and the RAVEN Phase II, and Syndax expects to be first to report pivotal frontline menin‑inhibitor data with multiple presentations planned at ASCO, EHA and ASH.
• Two potentially transformative axatilimab readouts due in Q4 2026 — topline Phase II data for axatilimab plus ruxolitinib in chronic GVHD and the MAXPIRe IPF trial could materially expand market opportunity if positive, supported by a clear mechanistic rationale and encouraging GVHD lung responses to date.
• Strong cash runway and disciplined expense guidance — $352.1M in cash and marketable securities as of March 31, 2026, and guidance for ~ $400M total R&D+SG&A in 2026 (ex‑$50M non‑cash stock comp), which management says positions the company to continue investing and move toward profitability.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX traded up $0.80 during trading hours on Thursday, hitting $21.43. 1,660,342 shares of the company traded hands, compared to its average volume of 1,371,331. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -6.51 and a beta of 0.41. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $25.59. The firm has a 50-day moving average of $23.03 and a 200 day moving average of $20.35. The company has a current ratio of 4.40, a quick ratio of 4.12 and a debt-to-equity ratio of 5.32.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 17,159 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the completion of the transaction, the chief executive officer directly owned 491,690 shares in the company, valued at $10,340,240.70. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the transaction, the chief financial officer owned 140,429 shares of the company's stock, valued at approximately $2,953,221.87. The trade was a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,063 shares of company stock valued at $628,332. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV bought a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $374,000. Marex Group plc bought a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $316,000. Creative Planning lifted its holdings in Syndax Pharmaceuticals by 16.4% during the 3rd quarter. Creative Planning now owns 17,970 shares of the company's stock valued at $276,000 after purchasing an additional 2,526 shares during the last quarter. Caxton Associates LLP bought a new position in Syndax Pharmaceuticals during the 1st quarter valued at about $257,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at about $252,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. Wall Street Zen raised shares of Syndax Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. Citigroup upped their price objective on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Finally, Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $40.33.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax's research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company's lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.

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