SYNDAX PHARMACEUTICALS INC (NASDAQ:SNDX) released its second-quarter 2026 results after the market close on Tuesday, with revenue and earnings per share both coming in below consensus forecasts and shares falling roughly 6.5% in after-market trading.
Revenue and EPS versus estimates
Syndax reported total revenue of $72.8 million for the quarter, a 92% increase from $38.0 million a year earlier but below the $80.9 million that analysts had expected. The net loss attributable to common stockholders came to $49.4 million, or $0.55 per share, wider than the $0.45 per share loss the Street had modeled. The revenue shortfall was driven by the composition of the top line; Revuforj net product sales were $54.7 million, up 91% year over year, while Niktimvo collaboration revenue contributed $18.1 million. Niktimvo generated $60.3 million in net revenue at the gross level, reported by partner Incyte, but Syndax books only its 50% share of commercial profit under the collaboration agreement.
Key quarterly figures:
- Total revenue: $72.8 million actual versus $80.9 million consensus estimate
- Net loss per share: -$0.55 actual versus -$0.45 consensus estimate
- Revuforj net revenue: $54.7 million, up 91% year over year
- Niktimvo collaboration revenue: $18.1 million
- Prescriptions: approximately 1,500, up 121% year over year
Commercial and pipeline progress
Management said both approved medicines are now annualizing at more than $200 million each. Revuforj posted its sixth consecutive quarter of double-digit net revenue and prescription growth, with average treatment duration continuing to lengthen, especially among patients in the post-transplant setting. The company also advanced its earlier-stage portfolio with two newly disclosed programs:
- SNDX-4321, a mutant-selective, CNS-penetrant allosteric EGFR inhibitor for non-small cell lung cancer, with an IND expected by the end of 2026
- SNDX-62122, a next-generation menin inhibitor for myelofibrosis, with a Phase 1 trial planned for 2027
Additional catalysts include topline data in the fourth quarter from Phase 2 trials of axatilimab in idiopathic pulmonary fibrosis and frontline chronic graft-versus-host disease, plus multiple readouts from the Revuforj frontline AML program at upcoming medical meetings.
Cash position and outlook
Syndax ended the quarter with $575.1 million in cash, cash equivalents, and short- and long-term investments, up from $394.1 million at the end of 2025. Research and development spending rose to $68.0 million from $62.2 million in the prior-year quarter, reflecting higher costs tied to the frontline Revuforj combination trials. Selling, general, and administrative expenses fell to $41.5 million from $43.8 million as launch costs from the year-ago period did not repeat.
The company reaffirmed its full-year 2026 outlook for combined R&D and SG&A expenses of approximately $400 million, excluding $50 million in estimated non-cash stock compensation. It also said its current cash position, combined with anticipated product revenue, collaboration revenue, and interest income, should be enough to reach profitability. For context, analysts currently project full-year 2026 revenue of about $350.6 million and third-quarter revenue of approximately $94.1 million, which implies continued strong sequential growth even after the Q2 shortfall.
Market reaction
The after-market decline of more than 6% suggests investors focused on the headline miss rather than the underlying growth rate. The stock had already fallen around 18% over the past month and nearly 16% over the past two weeks, so Tuesday's move adds to a period of sustained weakness. With the company still loss-making and clinical spending elevated, the wider-than-expected EPS loss may heighten scrutiny of the path to breakeven even as the top line expands at a triple-digit pace.
Investors looking for additional historical earnings data can review the full earnings history. For a view on how analysts expect revenue and EPS to trend in coming quarters, see the latest projections.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Always conduct your own research and consider your risk tolerance before making investment decisions.
Read full article here »
View the Zacks #1 Rank List
Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Drop as Q2 Revenue and EPS Miss Estimates
SYNDAX PHARMACEUTICALS INC (NASDAQ:SNDX) released its second-quarter 2026 results after the market close on Tuesday, with revenue and earnings per share both coming in below consensus forecasts and shares falling roughly 6.5% in after-market trading.
Revenue and EPS versus estimates
Syndax reported total revenue of $72.8 million for the quarter, a 92% increase from $38.0 million a year earlier but below the $80.9 million that analysts had expected. The net loss attributable to common stockholders came to $49.4 million, or $0.55 per share, wider than the $0.45 per share loss the Street had modeled. The revenue shortfall was driven by the composition of the top line; Revuforj net product sales were $54.7 million, up 91% year over year, while Niktimvo collaboration revenue contributed $18.1 million. Niktimvo generated $60.3 million in net revenue at the gross level, reported by partner Incyte, but Syndax books only its 50% share of commercial profit under the collaboration agreement.
Key quarterly figures:
Commercial and pipeline progress
Management said both approved medicines are now annualizing at more than $200 million each. Revuforj posted its sixth consecutive quarter of double-digit net revenue and prescription growth, with average treatment duration continuing to lengthen, especially among patients in the post-transplant setting. The company also advanced its earlier-stage portfolio with two newly disclosed programs:
Additional catalysts include topline data in the fourth quarter from Phase 2 trials of axatilimab in idiopathic pulmonary fibrosis and frontline chronic graft-versus-host disease, plus multiple readouts from the Revuforj frontline AML program at upcoming medical meetings.
Cash position and outlook
Syndax ended the quarter with $575.1 million in cash, cash equivalents, and short- and long-term investments, up from $394.1 million at the end of 2025. Research and development spending rose to $68.0 million from $62.2 million in the prior-year quarter, reflecting higher costs tied to the frontline Revuforj combination trials. Selling, general, and administrative expenses fell to $41.5 million from $43.8 million as launch costs from the year-ago period did not repeat.
The company reaffirmed its full-year 2026 outlook for combined R&D and SG&A expenses of approximately $400 million, excluding $50 million in estimated non-cash stock compensation. It also said its current cash position, combined with anticipated product revenue, collaboration revenue, and interest income, should be enough to reach profitability. For context, analysts currently project full-year 2026 revenue of about $350.6 million and third-quarter revenue of approximately $94.1 million, which implies continued strong sequential growth even after the Q2 shortfall.
Market reaction
The after-market decline of more than 6% suggests investors focused on the headline miss rather than the underlying growth rate. The stock had already fallen around 18% over the past month and nearly 16% over the past two weeks, so Tuesday's move adds to a period of sustained weakness. With the company still loss-making and clinical spending elevated, the wider-than-expected EPS loss may heighten scrutiny of the path to breakeven even as the top line expands at a triple-digit pace.
Investors looking for additional historical earnings data can review the full earnings history. For a view on how analysts expect revenue and EPS to trend in coming quarters, see the latest projections.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Always conduct your own research and consider your risk tolerance before making investment decisions.
Read full article here »