Syndax Pharmaceuticals, Inc.
- Open
- 22.02
- Day high
- 22.29
- Day low
- 20.84
- Prev close
- 21.86
- Volume
- 1.1M
- Mkt cap
- $1.9B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 44.5
- P/S
- 8.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.3M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Syndax Pharmaceuticals, Inc. (SNDX) is a Healthcare company listed on NASDAQ. The stock is up 148% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Syndax Pharmaceuticals, Inc. (SNDX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SNDX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.59 | $-0.48 | +18.6% | $65M | -7.0% |
| Mar 3, 2025 | $-1.08 | $-1.10 | -1.9% | $8M | -39.9% |
| Aug 1, 2024 | $-0.91 | $-0.80 | +12.1% | $4M | — |
| May 8, 2024 | $-0.96 | $-0.85 | +11.5% | — | — |
| Feb 27, 2024 | $-0.99 | $-1.00 | -1.0% | $536000 | — |
| Nov 2, 2023 | $-0.80 | $-0.73 | +8.8% | — | — |
| Aug 3, 2023 | $-0.73 | $-0.64 | +12.3% | — | — |
| Feb 28, 2023 | $-0.64 | $-0.62 | +3.1% | — | — |
| Nov 3, 2022 | $-0.65 | $-0.58 | +10.8% | — | — |
| Mar 1, 2022 | $0.28 | $1.81 | +546.4% | $127M | +1911.8% |
| Nov 15, 2021 | $-0.64 | $-0.40 | +37.5% | $12M | +3.3% |
| Mar 8, 2021 | $-0.43 | $-0.44 | -2.3% | $380000 | +58.3% |
SNDX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 12, 2026 | Botwood Nicholas A.J.officer: Head of R&D, CMO | Sell | 31,235 | $18.14 |
| Jun 12, 2026 | Botwood Nicholas A.J.officer: Head of R&D, CMO | Option | 31,235 | $13.82 |
| Jun 12, 2026 | Botwood Nicholas A.J.officer: Head of R&D, CMO | Sell | 34,280 | $18.00 |
| Jun 12, 2026 | Botwood Nicholas A.J.officer: Head of R&D, CMO | Option | 22,515 | $13.82 |
| Jun 2, 2026 | Metzger Michael Adirector, officer: Chief Executive Officer | Sell | 6,847 | $18.99 |
| Jun 2, 2026 | Goldan Keith A.officer: Chief Financial Officer | Sell | 1,177 | $18.99 |
| Feb 10, 2026 | Metzger Michael Adirector, officer: Chief Executive Officer | Sell | 17,159 | $21.03 |
| Feb 10, 2026 | Goldan Keith A.officer: Chief Financial Officer | Sell | 3,410 | $21.03 |
| Feb 6, 2026 | Rizo Aleksandradirector | Grant | 24,000 | — |
| Feb 6, 2026 | Legault Pierredirector | Grant | 24,000 | — |
| Feb 6, 2026 | Katkin Keithdirector | Grant | 24,000 | — |
| Feb 6, 2026 | Podlesak Dennisdirector | Grant | 48,000 | — |
| Feb 6, 2026 | Metzger Michael Adirector, officer: Chief Executive Officer | Grant | 144,600 | — |
| Feb 6, 2026 | Metzger Michael Adirector, officer: Chief Executive Officer | Sell | 7,412 | $20.62 |
| Feb 6, 2026 | Metzger Michael Adirector, officer: Chief Executive Officer | Grant | 440,000 | $20.43 |
Source: SNDX SEC Form 4 filings, latest Jun 12, 2026. For informational purposes only — not investment advice.
See the full SNDX insider & 13F page →Syndax Pharmaceuticals, Inc. company profile
Overview
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) is a clinical-stage biopharmaceutical company founded in 2005 and headquartered in Waltham, Massachusetts. The company went public in March 2016 and has evolved from a research-focused organization into a commercial-stage company with two FDA-approved products launched in 2024. Syndax specializes in developing novel therapies for cancer treatment, with particular expertise in targeting specific protein interactions and immune system pathways that drive tumor growth and resistance to treatment.
Business
Syndax operates in the oncology segment of the biotechnology industry, focusing on developing targeted therapies for blood cancers and immune-related complications. The company's core business revolves around two main therapeutic areas: acute leukemia treatment and chronic graft-versus-host disease (cGVHD) management. The company's flagship product is Revuforj (revumenib), a first-in-class menin inhibitor approved by the FDA in late 2024. Revuforj targets a specific protein interaction between menin and mixed lineage leukemia 1 (MLL1) protein, which is crucial for certain types of acute myeloid leukemia (AML). The drug is designed to treat patients with KMT2A gene rearrangements, a genetic alteration found in approximately 5-10% of AML patients. By blocking this protein interaction, Revuforj can restore normal cell differentiation and induce cancer cell death in these specific leukemia subtypes. The second approved product is Niktimvo (axatilimab), developed in partnership with Incyte Corporation. This monoclonal antibody blocks the colony stimulating factor 1 receptor (CSF-1R), which plays a key role in activating macrophages that contribute to chronic inflammation and tissue damage. Niktimvo is approved for treating chronic graft-versus-host disease, a serious complication that can occur after bone marrow transplants where the donor's immune cells attack the recipient's healthy tissues. Both products address rare but serious conditions with significant unmet medical needs. The acute leukemia market that Revuforj addresses represents approximately 2,000 patients initially, with potential expansion to 5,000-6,500 patients as additional indications are approved. The chronic GVHD market for Niktimvo encompasses roughly 6,500 patients who have failed multiple prior treatments.
Revenue model
Syndax generates revenue through direct product sales of its approved therapies to healthcare providers and through partnership arrangements. For Revuforj, the company retains full commercial rights in the United States and captures 100% of net product revenue. The drug is sold to specialty pharmacies and hospital systems that serve hematology-oncology centers, with pricing reflecting its status as a first-in-class therapy for a rare indication. For Niktimvo, Syndax operates under a co-commercialization agreement with Incyte Corporation, splitting profits equally after deducting commercialization expenses. This partnership model allows Syndax to leverage Incyte's established commercial infrastructure while maintaining significant economic participation. The company also has licensing arrangements, including a royalty agreement with Royalty Pharma that provided $350 million in upfront cash. The company's paying customers are primarily large academic medical centers, comprehensive cancer centers, and specialty hematology practices. These institutions typically have experience treating rare blood cancers and managing complex transplant-related complications. Payer coverage is critical for commercial success, and Syndax has secured coverage from managed care organizations representing over 90% of covered lives. Several factors influence the company's margins and profitability prospects. Positive margin drivers include the rare disease premium pricing for both products, limited competition in these specific indications, and the potential for expanded use as additional clinical data emerges. The company's focus on high-value, targeted therapies allows for premium pricing that can support healthy gross margins. Negative margin pressures include the high cost of manufacturing complex biologics and small molecules, ongoing clinical development expenses for pipeline expansion, and the substantial commercial infrastructure required to reach specialized treatment centers. Additionally, as a small biotechnology company, Syndax faces higher per-unit costs compared to larger pharmaceutical companies with broader product portfolios.
Risks & safety
Overall Assessment: Moderate safety profile with strong liquidity but ongoing cash burn and execution risks. Cash and Solvency: • Cash and short-term investments: $154 million as of Q1 2025 • Current ratio: 5.8x indicating strong short-term liquidity • Minimal debt with debt-to-equity ratio near zero • Operating cash flow burn: $95 million in Q1 2025 (annualized ~$380 million) • Management projects cash runway through profitability based on current trajectory Valuation Metrics: • Trading at 4.9x book value, indicating premium valuation • Negative earnings make P/E ratio less meaningful • EV/EBITDA of -2.7x reflects current losses but improving revenue trajectory • Graham net-net ratio of 2.3x suggests reasonable asset backing Other Considerations: • Early-stage commercial products with uncertain adoption curves • Dependence on two primary revenue sources creates concentration risk • Strong balance sheet provides buffer for operational challenges • Partnership with Incyte reduces some commercial execution risk for Niktimvo
Recent development
Over the past two years, Syndax has undergone a fundamental transformation from a clinical-stage research company to a commercial-stage biopharmaceutical organization. The most significant development was achieving FDA approval for both Revuforj and Niktimvo in 2024, marking the company's transition to generating product revenue after nearly two decades of development work. The company has made substantial investments in commercial infrastructure, building a specialized sales organization of 30-50 representatives targeting approximately 2,000 treatment centers across the United States. This commercial build-out represents a major strategic shift, requiring new capabilities in market access, payer relations, and field-based medical affairs. Early commercial performance has been encouraging, with Revuforj generating $20 million in net revenue during Q1 2025 and achieving orders from 44% of tier 1 and tier 2 target accounts. Pipeline expansion has become a key strategic priority, with multiple clinical trials initiated to broaden the utility of existing assets. For Revuforj, the company launched the EVOLV-2 pivotal trial studying the drug in frontline AML treatment, potentially expanding the addressable market significantly. The company also submitted a supplemental new drug application for NPM1-mutated AML, which could nearly triple the target patient population. For Niktimvo, development efforts focus on earlier-line chronic GVHD treatment and expansion into idiopathic pulmonary fibrosis. The company has also pursued strategic financial partnerships, most notably the $350 million royalty agreement with Royalty Pharma, which provided substantial non-dilutive capital to fund operations and development activities. This transaction reflects management's focus on maintaining financial flexibility while advancing multiple clinical programs simultaneously. Manufacturing and supply chain capabilities have been developed to support commercial operations, representing another major operational advancement. The company has established relationships with contract manufacturing organizations and implemented quality systems necessary for commercial-scale production of both approved products.
SNDX company profile · for informational purposes only — not investment advice.
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