Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.10), Zacks reports. Syndax Pharmaceuticals had a negative return on equity of 298.76% and a negative net margin of 87.52%.The firm had revenue of $72.79 million during the quarter, compared to analysts’ expectations of $79.36 million. During the same quarter in the prior year, the company earned ($0.83) earnings per share. The business’s revenue for the quarter was up 91.8% compared to the same quarter last year.
Here are the key takeaways from Syndax Pharmaceuticals’ conference call:
- Commercial revenue grew strongly: Revuforj and Niktimvo generated combined second-quarter revenue of $115 million. Revuforj revenue rose 91% year over year to $54.7 million, while Niktimvo collaboration revenue increased 67% to $18.1 million.
- Revuforj treatment duration is extending, particularly among patients resuming therapy after stem-cell transplant and those who do not undergo transplant. However, new patient starts declined sequentially in the quarter, which management attributed to normal variability, competition, clinical-trial enrollment and patient availability.
- Niktimvo continues to expand in chronic GVHD: The drug captured approximately one-third of the third-line-plus market within 18 months of launch, with 60%–70% of patients remaining on treatment for at least 12 months. Phase II readouts in idiopathic pulmonary fibrosis and frontline chronic GVHD are expected in the fourth quarter and could open larger markets.
- The pipeline has several near-term catalysts. Syndax expects additional frontline AML and post-transplant Revuforj data, NUP98 leukemia data and progress toward pivotal trials; it also plans an IND for its CNS-penetrant EGFR inhibitor by year-end 2026 and a 2027 Phase I start for its next-generation menin inhibitor in myelofibrosis.
- Financial flexibility remains strong: Syndax ended the quarter with $575 million in cash and investments, including net proceeds from a $250 million convertible-notes offering. Management maintained its 2026 R&D and SG&A expense guidance of approximately $400 million and said the company is funded through profitability.
Syndax Pharmaceuticals Stock Performance
NASDAQ SNDX traded up $0.25 during trading hours on Thursday, hitting $20.17. The company’s stock had a trading volume of 66,875 shares, compared to its average volume of 1,620,092. The company’s 50 day simple moving average is $20.41 and its two-hundred day simple moving average is $21.37. Syndax Pharmaceuticals has a 12 month low of $12.10 and a 12 month high of $25.59. The company has a market cap of $1.79 billion, a P/E ratio of -8.04 and a beta of 0.40. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06.
Key Stories Impacting Syndax Pharmaceuticals
- Positive Sentiment: Second-quarter revenue rose 92% year over year to approximately $73 million. Revuforj (revumenib) generated $54.7 million in net revenue, while Niktimvo (axatilimab-csfr) generated $60.3 million and contributed $18.1 million in collaboration revenue. Syndax also expects topline data in the fourth quarter of 2026 from Phase 2 trials of axatilimab in idiopathic pulmonary fibrosis and frontline chronic graft-versus-host disease. Syndax Reports Second Quarter 2026 Financial Results and Provides Business Update
- Positive Sentiment: HC Wainwright maintained its “Buy” rating and a $38 price target, implying substantial potential upside from recent trading levels. The company also expanded its pipeline with a mutant-selective EGFR inhibitor for non-small-cell lung cancer and a next-generation menin inhibitor for myelofibrosis. HC Wainwright Price Target Update
- Neutral Sentiment: Syndax granted inducement stock options covering 59,250 shares to five new employees. The awards vest over four years, supporting recruitment but creating limited potential dilution for existing shareholders. Syndax Pharmaceuticals Reports Inducement Grants
- Negative Sentiment: Syndax reported a second-quarter loss of $0.55 per share, wider than the expected $0.45 loss, while revenue of $72.79 million fell short of the $79.36 million consensus estimate. Although the loss narrowed from $0.83 per share a year earlier, the earnings and revenue misses likely contributed to the weaker share performance. Syndax Q2 Earnings Report
- Negative Sentiment: HC Wainwright lowered its long-term EPS forecasts to $2.28 for fiscal 2029 from $2.59 and to $3.16 for fiscal 2030 from $3.52. The continued “Buy” rating and $38 target provide support, but the estimate reductions signal somewhat lower expected future profitability. Syndax Analyst Estimates
Insider Buying and Selling
In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,104,453.90. The trade was a 33.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 105,914 shares of company stock valued at $2,120,789. 4.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 20.6% during the 4th quarter. Invesco Ltd. now owns 160,525 shares of the company’s stock worth $3,373,000 after acquiring an additional 27,434 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Syndax Pharmaceuticals in the 4th quarter worth $374,000. Virtus Investment Advisers LLC increased its position in Syndax Pharmaceuticals by 214.6% in the fourth quarter. Virtus Investment Advisers LLC now owns 33,549 shares of the company’s stock worth $705,000 after buying an additional 22,885 shares in the last quarter. Twinbeech Capital LP increased its position in Syndax Pharmaceuticals by 19.4% in the fourth quarter. Twinbeech Capital LP now owns 52,900 shares of the company’s stock worth $1,111,000 after buying an additional 8,606 shares in the last quarter. Finally, Sphera Funds Management LTD. raised its stake in shares of Syndax Pharmaceuticals by 96.7% in the fourth quarter. Sphera Funds Management LTD. now owns 762,563 shares of the company’s stock worth $16,021,000 after buying an additional 374,847 shares during the period.
Wall Street Analyst Weigh In
Several analysts have issued reports on SNDX shares. Bank of America restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday. HC Wainwright dropped their target price on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings lowered Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Barclays increased their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.36.
View Our Latest Stock Report on SNDX
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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