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SNDX

Syndax Pharmaceuticals, Inc.

SNDX

Syndax Pharmaceuticals, Inc. • NASDAQ
$19.82 ▼ -0.25% (-0.05)
Market Cap $1.72 B
52w High $20.20
52w Low $8.58
Dividend Yield 0%
P/E -5.51
Volume 618.20K
Outstanding Shares 86.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $45.871M ▲ $96.919M ▼ $-60.715M ▲ -132.36% ▲ $-0.7 ▲ $-57.7M ▲
Q2-2025 $37.958M ▲ $106.032M ▲ $-71.847M ▲ -189.28% ▲ $-0.83 ▲ $-63.989M ▲
Q1-2025 $20.042M ▲ $102.914M ▼ $-84.846M ▲ -423.341% ▲ $-0.99 ▲ $-83.757M ▲
Q4-2024 $7.68M ▼ $104.045M ▲ $-94.169M ▼ -1.226K% ▼ $-1.1 ▼ $-89.363M ▼
Q3-2024 $12.5M $102.077M $-84.126M -673.008% $-0.98 $-84.101M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $454.174M ▼ $551.792M ▼ $436.362M ▼ $115.43M ▼
Q2-2025 $468.706M ▼ $596.149M ▼ $438.725M ▲ $157.424M ▼
Q1-2025 $516.313M ▼ $640.707M ▼ $425.648M ▼ $215.059M ▼
Q4-2024 $582.913M ▲ $724.816M ▲ $436.692M ▲ $288.124M ▼
Q3-2024 $389.607M $425.811M $59.379M $366.432M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-60.715M ▲ $-70.535M ▲ $72.429M ▲ $6.278M ▲ $8.172M ▲ $-70.666M ▲
Q2-2025 $-71.847M ▲ $-87.795M ▲ $41.887M ▼ $551K ▼ $-45.357M ▼ $-87.795M ▲
Q1-2025 $-84.846M ▲ $-95.162M ▼ $94.142M ▲ $930K ▼ $-90K ▼ $-95.162M ▼
Q4-2024 $-94.169M ▼ $-57.388M ▲ $-268.973M ▼ $347.425M ▲ $21.064M ▼ $-57.388M ▲
Q3-2024 $-84.126M $-62.322M $86.847M $3.098M $27.623M $-62.322M

Revenue by Products

Product Q2-2025Q3-2025
Collaboration revenue
Collaboration revenue
 $10.00M ▲$10.00M ▲
Product
Product
 $30.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Syndax’s income statement looks like a classic late‑stage biotech story: very little historical revenue and sizable, rising operating losses. The small bump in profit a few years ago likely came from a one‑time event, such as a partnership payment, rather than ongoing product sales. Since then, expenses have grown as the company funded pivotal trials and prepared to launch its newly approved drugs. Today, the business is clearly in an investment phase, with research, development, and commercial build‑out driving persistent net losses per share. Profitability will depend heavily on how quickly and how broadly its new oncology products gain traction in the market.

Balance Sheet

Balance Sheet The balance sheet shows a company that has steadily built up its asset base over time, supported by repeated access to capital. Cash levels have moved around as Syndax raises funds and then spends on trials and launches. Recently, the company has added a meaningful amount of debt, shifting from a mostly equity‑funded model to a more mixed structure. Equity remains positive, which is reassuring, but the growing debt load introduces more financial obligations to manage. Overall, the balance sheet reflects a development‑stage biotech that has prepared for commercialization but still relies on external financing to support its strategy.

Cash Flow

Cash Flow Cash flow is dominated by outflows from operating activities, which is typical for a biotech investing heavily in clinical programs and commercial infrastructure before meaningful revenue arrives. There is essentially no capital spending on physical assets, so almost all cash usage is tied directly to running the business and advancing the pipeline. The narrative that the company has cash runway into the middle of the decade suggests management has planned for ongoing losses while it ramps product sales. The key question going forward is whether cash burn begins to moderate as revenues from the two approved drugs scale, or whether additional funding will be needed to support broader development plans.

Competitive Edge

Competitive Edge Syndax now competes as a commercial oncology company with two differentiated products in serious, underserved conditions. Its first‑in‑class menin inhibitor for genetically defined acute leukemias gives it an early foothold in a cutting‑edge segment, and the CSF‑1R antibody in chronic graft‑versus‑host disease offers a novel approach in a complex immune‑driven disorder. The partnership with Incyte on axatilimab strengthens its commercial and development capabilities in that program. At the same time, the company is not alone: other biotechs and large pharmaceutical firms are advancing competing menin inhibitors and immune‑modulating therapies. Syndax’s advantage will depend on the real‑world performance of its drugs, their safety profiles, and how effectively it can educate specialists and integrate its therapies into treatment guidelines.

Innovation and R&D

Innovation and R&D Innovation is clearly Syndax’s core strength. The company focuses on precision oncology and immune‑mediated diseases, using a deep understanding of specific genetic and cellular drivers to design targeted therapies. Its menin inhibitor is a new class of treatment for particular leukemia subtypes, and the CSF‑1R antibody brings a fresh mechanism to chronic graft‑versus‑host disease and potentially fibrotic lung disease. Ongoing trials are testing these agents in earlier lines of therapy, in combinations, and in new indications, which could significantly broaden their use if results remain strong. This strategy also concentrates risk: a large share of future value is tied to the success, safety, and competitive positioning of just a few key programs.

Summary

Syndax is in the middle of a major transition—from a research‑focused biotech with minimal revenue to a commercial oncology company with two newly approved medicines. The financials today still look like those of a development‑stage firm: limited sales, growing operating losses, meaningful cash burn, and a balance sheet built through equity raises and, more recently, debt. On the other hand, the company now has tangible products, a clear scientific niche in genetically defined leukemias and immune‑driven diseases, and a notable partnership that supports commercialization. Future performance will hinge on execution: how well the launches go, whether label expansions and new indications succeed, how competition evolves, and how effectively management balances investment needs with its cash resources and debt obligations.

NEWS

November 5, 2025 · 4:01 PM UTC

Syndax Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

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November 3, 2025 · 4:01 PM UTC

Syndax Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 3, 2025 · 9:08 AM UTC

Syndax Announces Compelling Revuforj® (revumenib) and Niktimvo™ (axatilimab-csfr) Data Accepted for Presentation at ASH 2025

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October 30, 2025 · 7:00 AM UTC

Syndax Announces Participation in November Investor Conferences

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October 27, 2025 · 7:00 AM UTC

Syndax to Announce Third Quarter 2025 Financial Results and Host Conference Call and Webcast on November 3, 2025

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