Syndax Reports Third Quarter 2026 Financial Results and Provides Business Update

Revuforj revenue rose 11% sequentially, while new patients increased approximately 20% from the second quarter of 2026.

Rhea-AI Summary

Syndax Pharmaceuticals (Nasdaq: SNDX) reported third-quarter 2026 revenue of $83.3 million, up 82% from the same period last year. Revuforj net revenue reached $60.7 million, up 90% year over year. Niktimvo contributed $22.6 million in collaboration revenue. Net loss attributable to common stockholders narrowed to $49.4 million, or $0.55 per share, from $60.7 million, or $0.70 per share.

Cash and investments totaled $551.1 million at September 30. Syndax maintained its approximately $400 million full-year research, development and administrative expense outlook, excluding estimated non-cash stock compensation of $50 million. New revumenib data are expected in the fourth quarter of 2026. The Phase 2 MAXPIRe trial missed its primary endpoint, and Syndax does not plan further axatilimab development in idiopathic pulmonary fibrosis. Aaron Ondrey becomes chief financial officer November 9, 2026, following Keith Goldan’s decision to retire.

19 points · 0 major

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0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointTotal revenue of $83.3 million increased 82% year over year in the third quarter of 2026.
• Moderate pointNet loss narrowed to $49.4 million, or $0.55 per share, versus $60.7 million, or $0.70, a year earlier.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Profitability funding is expected from existing cash and investments combined with anticipated product revenue, collaboration revenue and interest income.
• Minor pointRevuforj net revenue of $60.7 million rose 90% year over year and 11% sequentially in 3Q26.
• Minor pointRevuforj new patients and prescriptions increased approximately 20% and 13%, respectively, versus the second quarter of 2026.

14 minor points

• Minor pointNiktimvo collaboration revenue of $22.6 million contributed to Syndax’s third-quarter 2026 revenue.
• Minor pointSelling, general and administrative expenses decreased to $43.7 million in 3Q26 from $44.9 million a year earlier.
• Minor pointRevumenib Phase 3 trials EVOLVE-2 and REVEAL-ND are ongoing in newly diagnosed acute myeloid leukemia.
• Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter 2026 revumenib data are expected across frontline combinations, post-transplant maintenance, real-world studies and early-relapse treatment.
• Minor point. Forward-looking: it has not happened yet and may not happen.Revumenib safety and efficacy data in relapsed or refractory NUP98-rearranged acute leukemia are expected in fourth-quarter 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.RAVEN Phase 2 trial of revumenib with venetoclax and azacitidine is expected to start in fourth-quarter 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.MenTain Phase 2 trial of revumenib after stem-cell transplant is expected to start in first-quarter 2027.
• Minor pointReduced-frequency axatilimab dosing was feasible and well tolerated in AGAVE-201, with 84% remaining on treatment at cutoff.
• Minor point. Forward-looking: it has not happened yet and may not happen.Axatilimab plus ruxolitinib Phase 2 topline data in newly diagnosed chronic graft-versus-host disease are expected in first-quarter 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Axatilimab plus corticosteroids Phase 3 topline data in newly diagnosed chronic graft-versus-host disease are expected in early 2028.
• Minor pointMAXPIRe safety findings were consistent with previous axatilimab studies, with no new safety signals identified.
• Minor point. Forward-looking: it has not happened yet and may not happen.SNDX-4321 investigational new drug application is expected by year-end 2026; a Phase 1 lung-cancer trial is expected in 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.SNDX-62122 investigational new drug application and Phase 1 myelofibrosis trial initiation are expected in fourth-quarter 2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Revumenib myelofibrosis Phase 1/2 trial is expected to begin in fourth-quarter 2026, with initial data in second-half 2027.

Negative

• Moderate pointMAXPIRe Phase 2 trial missed its primary endpoint; Syndax does not plan further axatilimab development in idiopathic pulmonary fibrosis.
• Moderate pointResearch and development expenses increased to $67.5 million in 3Q26 from $56.3 million a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 expense guidance remains approximately $400 million for research, development, selling, general and administration, excluding $50 million estimated non-cash stock compensation.

News Explained

In its reported third-quarter results, Syndax says it records 50% of Niktimvo net commercial profit as collaboration revenue; that profit is net product revenue less cost of sales and commercial expenses. Incyte reported $67.4 million in Niktimvo net product revenue, while Syndax reported $22.6 million in collaboration revenue.

Key Figures

Total revenue: $83.3 million Revuforj net revenue: $60.7 million Niktimvo net revenue: $67.4 million +5 more

Total revenue

$83.3 million

3Q26; up 82% year over year

Revuforj net revenue

$60.7 million

3Q26; up 90% year over year

Niktimvo net revenue

$67.4 million

3Q26; reported by partner Incyte, up 47% year over year

Niktimvo collaboration revenue

$22.6 million

Syndax's reported 3Q26 share

Cash, cash equivalents and investments

$551.1 million

As of September 30, 2026

Research and development expenses

$67.5 million

3Q26, versus $56.3 million in the comparable prior-year period

Selling, general and administrative expenses

$43.7 million

3Q26, versus $44.9 million in the comparable prior-year period

Net loss attributable to common stockholders

$49.4 million, or $0.55 per share

3Q26, versus $60.7 million, or $0.70 per share, in the comparable prior-year period

Previous Earnings Reports

1 past event · Latest: Aug 04

Same Type 1 event

1. Aug 04

   Quarterly earnings

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   +4.4%

   Reported $72.8 million Q2 revenue, up 92% year over year.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

hematopoietic stem cell transplant, measurable residual disease, investigational new drug, allosteric inhibitor, +1 more

5 terms

hematopoietic stem cell transplant medical

"hematopoietic stem cell transplant (HSCT)"

A hematopoietic stem cell transplant is a medical procedure that replaces a patient’s damaged or diseased blood- and immune‑forming cells with healthy stem cells, acting like a reset button for the body’s blood and immune system. It matters to investors because it signals demand for related drugs, medical devices and hospital services, affects regulatory approval pathways and long‑term patient outcomes, and can materially influence the revenues and valuations of companies in oncology and transplant medicine.

measurable residual disease medical

"measurable residual disease (MRD)"

Measurable residual disease (MRD) is the tiny number of cancer cells that remain in a patient after treatment and can be detected using sensitive laboratory tests even when scans look clear. For investors, MRD matters because it's a strong early signal of how well a therapy works, can influence clinical trial success, regulatory decisions and future sales, and helps predict whether disease will come back much like spotting embers after a put-out fire.

investigational new drug regulatory

"investigational new drug (IND) application"

An investigational new drug is a medication that is still being tested in clinical trials to determine if it is safe and effective for treating a specific condition. For investors, it represents a potential breakthrough that could lead to a new treatment and significant financial gains if successful, but also carries risks since it has not yet been approved for widespread use.

allosteric inhibitor technical

"a novel allosteric inhibitor which binds at a pocket adjacent to the ATP site"

An allosteric inhibitor is a molecule, often a drug, that attaches to a spot on a protein away from its main active site and changes the protein’s shape so it works less effectively or stops working. For investors, these compounds matter because they can offer greater selectivity and fewer side effects than drugs that block the active site directly, potentially improving clinical success, reducing safety risks, and extending the commercial value of a therapy.

primary endpoint medical

"the MAXPIRe Phase 2 trial of axatilimab in idiopathic pulmonary fibrosis (IPF) did not meet its primary endpoint"

The primary endpoint is the single main result a clinical study is designed to measure to decide if a treatment works, like the finish line in a race that tells you who won. Investors care because meeting or missing this goal drives regulatory decisions, future sales expectations and stock value — it turns trial data into a clear yes-or-no signal about a drug’s commercial prospects.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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– Total revenue of $83.3 million in 3Q26, an 82% year-over-year increase –

– Revuforj^® (revumenib) net revenue of $60.7 million in 3Q26, a 90% y/y increase, underscores leadership in R/R NPM1m and KMT2Ar acute leukemia; 20% q/q growth in new patients – 

– Niktimvo™ (axatilimab-csfr) net revenue of $67.4 million in 3Q26, a 47% y/y increase, resulting in Syndax collaboration revenue of $22.6 million –

– New revumenib data expected in 4Q26 from clinical trials and real-world studies spanning the acute leukemia treatment continuum and multiple genetic subtypes –

– Company to host a conference call today at 4:30 p.m. ET –

NEW YORK, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company advancing innovative cancer therapies, today reported its financial results for the third quarter ended September 30, 2026, and provided a business update.

“We delivered another quarter of strong commercial results, generating $83 million in total revenue to Syndax. Revuforj net revenue grew to $61 million, driven by a 20% increase in new patients and an increasing number of patients on therapy in the post-transplant setting. We continue to have the dominant share of new patients across all age groups starting a menin inhibitor and the vast majority of revenue for the class, underscoring our position as the market leader. Importantly, a growing number of both R/R KMT2Ar and NPM1m patients are proceeding to a stem cell transplant after receiving Revuforj and then resuming therapy afterward, a dynamic that positions the business for long-term growth as the average duration of therapy extends,” said Michael A. Metzger, Chief Executive Officer.

Mr. Metzger continued, “We look forward to sharing new Revuforj combination data in the fourth quarter that reinforce our confidence that our ongoing pivotal frontline trials could transform the treatment paradigm for newly diagnosed AML. We remain well positioned to be the first to deliver a menin inhibitor in the frontline, unlocking a multi-billion-dollar opportunity. With growing revenue from two medicines, a robust pipeline generating multiple blockbuster opportunities, world-class R&D capabilities, and a strong balance sheet, Syndax is poised to deliver long-term value.”

Recent Business Highlights and Anticipated Milestones

Revuforj^® (revumenib)

• Achieved $60.7 million in Revuforj net revenue in the third quarter of 2026, a 90% increase over the third quarter of 2025 and an 11% increase over the second quarter of 2026. New patients and total prescriptions increased by approximately 20% and 13%, respectively, in the third quarter of 2026 compared to the second quarter of 2026. The double-digit growth in net revenue, new patients, and total prescriptions reflects robust uptake in both Revuforj indications and a growing number of relapsed or refractory (R/R) KMT2A-rearranged (KMT2Ar) and NPM1-mutated (NPM1m) patients proceeding to hematopoietic stem cell transplant (HSCT) and then resuming therapy in the post-transplant setting.
  
  
  • Claims data indicate that approximately 50% of R/R KMT2Ar patients proceed to HSCT after receiving Revuforj, of which about 60% have resumed therapy post-transplant. Notably, the data also indicate that approximately 40% of R/R NPM1m patients proceed to HSCT after receiving Revuforj, of which about 50% have resumed therapy post-transplant.
    
    
• In October 2026, Revuforj received the Best Product for Rare/Orphan Diseases award from The Galien Foundation, one of the world’s most prestigious awards for biomedical research and innovation. Additionally, Revuforj was named as one of TIME’s Best Inventions of 2026 in the Medical and Healthcare category.
  
  
• The Company expects to have a major presence at upcoming medical meetings, with the presentation in the fourth quarter of 2026 of new/updated revumenib data including:
  
  
  • Frontline data from the BEAT AML trial of revumenib in combination with venetoclax/azacitidine in NPM1m and KMT2Ar acute myeloid leukemia (AML)
    
    
  • Frontline data from the SAVE trial of the all-oral combination of revumenib, decitabine/cedazuridine, and venetoclax in NPM1m, KMT2Ar, or NUP98-rearranged (NUP98r) AML
    
    
  • Frontline data from a Phase 1 trial of revumenib in combination with intensive chemotherapy in NPM1m, KMT2Ar, or NUP98r AML
    
    
  • Post-transplant maintenance data
    
    
  • Real-world evidence from multiple centers
    
    
  • Data from INTERCEPT, a Phase 1 trial evaluating revumenib as pre-emptive therapy for measurable residual disease (MRD) or early relapse among patients with NPM1m or KMT2Ar AML
    
    
• The Company expects to publish safety and efficacy data from R/R NUP98r acute leukemia patients treated with revumenib in the fourth quarter of 2026.
  
  
• Published preclinical revumenib data showing that menin is a novel dependency in proliferative megakaryocytes, major drivers of myelofibrosis (MF), in Cancer Cell in July 2026. These data provide the basis for the Company’s plans to develop SNDX-62122, an internally developed, next-generation menin inhibitor, for MF.
  
  
• Multiple clinical trials evaluating revumenib across the acute leukemia treatment continuum are ongoing, such as:
  
  
  • EVOLVE-2: A pivotal, Phase 3, randomized, double-blind, placebo-controlled trial of revumenib in combination with venetoclax and azacitidine in newly diagnosed NPM1m (primary efficacy analysis population) and KMT2Ar AML patients who are unfit for intensive chemotherapy. The trial is being conducted in collaboration with the HOVON network, a leading cooperative clinical trial group with extensive experience studying novel therapies for hematologic malignancies.
    
    
  • REVEAL-ND: A pivotal, Phase 3, randomized, double-blind, placebo-controlled trial of revumenib in combination with intensive chemotherapy in newly diagnosed NPM1m AML patients.
    
    
  • SAVE: A Phase 1/2 trial evaluating an all-oral combination of revumenib with venetoclax and decitabine/cedazuridine in pediatric and adult patients with newly diagnosed and R/R AML or mixed-lineage acute leukemia harboring either NPM1m, KMT2Ar, or NUP98r alterations. The trial is being conducted by investigators from MD Anderson Cancer Center.
    
    
  • Intensive chemotherapy: Two ongoing Phase 1 trials evaluating the combination of revumenib with intensive chemotherapy (7+3) in newly diagnosed NPM1m or KMT2Ar acute leukemia patients.
    
    
  • BEAT AML: A Phase 1b trial evaluating the combination of revumenib with venetoclax and azacitidine in newly diagnosed older adults (≥60 years) with NPM1m or KMT2Ar AML. The trial is being conducted as part of the Leukemia & Lymphoma Society's Beat AML^® Master Clinical Trial.
    
    
  • Post-transplant maintenance: A Phase 1 trial evaluating the safety and preliminary efficacy of revumenib as post-transplant maintenance in patients with KMT2Ar or NPM1m acute leukemia. The trial is being conducted by investigators from the City of Hope Medical Center.
    
    
  • Break Through Cancer: A Phase 2 trial studying whether the combination of revumenib and venetoclax can eliminate MRD in patients with AML and extend progression-free survival. The trial is being conducted by Break Through Cancer, a collaboration between leading U.S. cancer research centers.
    
    
  • INTERCEPT: A Phase 1 trial evaluating the use of novel therapies, including revumenib, to target MRD and early relapse in AML. The trial is being conducted by the Australasian Leukaemia and Lymphoma Group as part of the INTERCEPT AML master clinical trial.
    
    
• The Company expects the RAVEN trial to initiate in the fourth quarter of 2026. RAVEN is a Phase 2 collaborative trial of revumenib in combination with venetoclax and azacitidine in newly diagnosed KMT2Ar patients who would be considered eligible, or fit, for intensive chemotherapy.
  
  
• The Company expects the MenTain Phase 2 trial to initiate in the first quarter of 2027. MenTain will be the first randomized, placebo-controlled trial specifically focused on evaluating revumenib as post-transplant maintenance.
  
  

Niktimvo™ (axatilimab-csfr)

• Achieved $67.4 million in Niktimvo net revenue in the third quarter of 2026, a 47% increase over the third quarter of 2025 and a 12% increase over the second quarter of 2026. Syndax and Incyte are co-commercializing Niktimvo. Syndax records 50% of the Niktimvo net commercial profit, defined as net product revenue minus the cost of sales and commercial expenses. Syndax’s share of the Niktimvo product contribution, reported as collaboration revenue, was $22.6 million in the third quarter of 2026.
  
  
• In October 2026, data supporting the safety and feasibility of reduced-frequency dosing of axatilimab in patients with recurrent or refractory chronic graft-versus-host disease (GVHD) were published in Blood Advances. Data from the pivotal AGAVE-201 trial show that transition from axatilimab 0.3 mg/kg every two weeks to 0.6 mg/kg every four weeks was feasible and well tolerated. Patients had a prolonged duration of therapy after the switch (median of 21 months), and 84% remained on treatment as of the data cutoff, suggesting ongoing clinical benefit.
  
  
• Two trials evaluating axatilimab in patients with newly diagnosed chronic GVHD are ongoing, including a Phase 2 trial in combination with ruxolitinib and a Phase 3 trial in combination with corticosteroids.
  
  
  • The Company expects topline data from the Phase 2 trial of axatilimab in combination with ruxolitinib to be presented at a medical meeting in the first quarter of 2027.
    
    
  • The Company expects topline data from the Phase 3 trial of axatilimab in combination with corticosteroids in early 2028.
    
    
• In October 2026, the Company announced that the MAXPIRe Phase 2 trial of axatilimab in idiopathic pulmonary fibrosis (IPF) did not meet its primary endpoint. The safety and tolerability profile observed in MAXPIRe was consistent with previous clinical studies of axatilimab, with no new safety signals identified. Based on the results observed, Syndax does not plan to move forward with further development of axatilimab in IPF. The results from the MAXPIRe trial do not affect ongoing trials of axatilimab in other potential indications.
  
  

Pipeline Assets

SNDX-4321

• In July 2026, the Company announced the expansion of its pipeline with SNDX-4321, a mutant-selective, CNS-penetrant, allosteric EGFR inhibitor. SNDX-4321 is in development for non-small cell lung cancer (NSCLC) patient populations with significant unmet needs, such as those with L858R mutations, CNS metastases, atypical activating mutations, or acquired resistance to current therapies. In contrast to ATP-site directed third- and fourth-generation EGFR inhibitors, SNDX-4321 is a novel allosteric inhibitor which binds at a pocket adjacent to the ATP site that is only accessible in the presence of L858R and certain other EGFR mutations.
  
  
• The Company expects to submit an investigational new drug (IND) application for SNDX-4321 by the end of 2026 and to initiate a Phase 1 trial in EGFRm NSCLC in 2027.
  
  

SNDX-62122

• In July 2026, the Company announced the selection of SNDX-62122, a next-generation menin inhibitor, for development in MF. SNDX-62122 is the first candidate from a library of internally developed, wholly owned next-generation menin inhibitors that the Company intends to advance into new areas.
  
  
• The Company expects to submit an IND and initiate a Phase 1 trial of SNDX-62122 in MF in the fourth quarter of 2027. The development of SNDX-62122 will be informed by a Phase 1/2 proof-of-principle trial of revumenib in MF that is expected to initiate in the fourth quarter of 2026 with initial clinical data expected in the second half of 2027.
  
  

Corporate Updates

• On November 2, 2026, the Company announced Keith Goldan’s decision to retire from his role as Chief Financial Officer and the appointment of Aaron A. Ondrey as Chief Financial Officer, effective November 9, 2026. Mr. Ondrey brings to Syndax more than 25 years of financial and operational leadership experience across the biotechnology industry, with deep expertise in financial management, corporate strategy, commercialization, and mergers and acquisitions. 
  
  

Third Quarter 2026 Financial Results

As of September 30, 2026, Syndax had cash, cash equivalents, and short- and long-term investments of $551.1 million and 90.0 million common shares outstanding.

Total revenue for the third quarter of 2026 was $83.3 million, which consisted of $60.7 million in Revuforj net revenue and $22.6 million in Niktimvo collaboration revenue. The Niktimvo collaboration revenue is derived from the $67.4 million in Niktimvo net revenue that was previously reported by the Company's partner Incyte for the third quarter 2026. Syndax records 50% of the Niktimvo net commercial profit, defined as net revenue (recorded by Incyte) minus the cost of sales and commercial expenses.

Third quarter 2026 research and development expenses increased to $67.5 million from $56.3 million for the comparable prior year period. The year-over-year change was primarily the result of increased expenses associated with frontline trials evaluating revumenib in combination with standard-of-care agents in the treatment of AML.

Third quarter 2026 selling, general and administrative expenses decreased to $43.7 million from $44.9 million for the comparable prior year period. The year-over-year change was primarily the result of lower commercial expenses due to launch costs incurred in 2025 for Revuforj and Niktimvo that were not incurred in the same period in 2026.

For the three months ended September 30, 2026, Syndax reported a net loss attributable to common stockholders of $49.4 million, or $0.55 per share, compared to a net loss attributable to common stockholders of $60.7 million, or $0.70 per share, for the comparable prior year period.

Financial Guidance

For the full year of 2026, the Company continues to expect total research and development plus selling, general and administrative expenses to be approximately $400 million, excluding the impact of $50 million in estimated non-cash stock compensation expense.

Syndax expects that its cash, cash equivalents and short- and long-term investments, combined with its anticipated product revenue, collaboration revenue and interest income, will enable the Company to reach profitability.

Conference Call and Webcast

In connection with the earnings release, Syndax's management team will host a conference call and live audio webcast at 4:30 p.m. ET today, November 2, 2026.

The live audio webcast and accompanying slides may be accessed through the Events & Presentations page in the Investors section of the Company's website. Alternatively, the conference call may be accessed through the following:

Conference ID: Syndax3Q26
Domestic Dial-in Number: 800-590-8290
International Dial-in Number: 240-690-8800
Live webcast: https://sndx-3q26.open-exchange.net/

For those unable to participate in the conference call or webcast, a replay will be available on the Investors section of the Company's website at www.syndax.com approximately 24 hours after the conference call and will be available for 90 days following the call.

About Revuforj^® (revumenib)

Revuforj (revumenib) is the first and only menin inhibitor that is FDA approved for the treatment of adult and pediatric patients one year and older with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible NPM1 mutation who have no satisfactory alternative treatment options or R/R acute leukemia with a KMT2A translocation as determined by an FDA-authorized test.

Multiple trials of revumenib are ongoing or planned across the treatment landscape, including in combination with standard of care therapies in newly diagnosed patients with NPM1m or KMT2Ar AML.

About Niktimvo™ (axatilimab-csfr)

Niktimvo (axatilimab-csfr) is a first-in-class colony stimulating factor-1 receptor (CSF-1R)-blocking antibody approved for use in the U.S. for the treatment of chronic graft-versus-host disease (GVHD) after failure of at least two prior lines of systemic therapy in adult and pediatric patients weighing at least 40 kg (88.2 lbs).

In 2016, Syndax licensed exclusive worldwide rights to develop and commercialize axatilimab from UCB. In September 2021, Syndax and Incyte entered into an exclusive worldwide co-development and co-commercialization license agreement for axatilimab in chronic GVHD and any future indications.

Axatilimab is being studied in frontline combination trials in chronic GVHD, including a Phase 2 combination trial with ruxolitinib (NCT06388564) and a Phase 3 combination trial with steroids (NCT06585774).

About Syndax

Syndax Pharmaceuticals is a commercial-stage biopharmaceutical company advancing innovative cancer therapies. Highlights of the Company's pipeline include Revuforj^® (revumenib), an FDA-approved menin inhibitor, and Niktimvo™ (axatilimab-csfr), an FDA-approved monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor. Fueled by our commitment to reimagining cancer care, Syndax is working to unlock the full potential of its pipeline and is conducting several clinical trials across the continuum of treatment. For more information, please visit www.syndax.com/ or follow the Company on X and LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "could," "estimate," "expects," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative or plural of those terms, and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Syndax's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the progress, timing, clinical development and scope of clinical trials, the reporting of clinical data for Syndax's product candidates, the acceptance of Syndax and its partners' products in the marketplace, sales, marketing, manufacturing and distribution requirements, the potential use of its product candidates to treat various cancer indications and fibrotic diseases, Syndax's expected full year total operating expenses, including its estimated non-cash stock compensation expense, and Syndax’s expectation that its cash, cash equivalents and short-term investments, combined with its anticipated product revenue, collaboration revenue and interest income, will enable the Company to reach profitability. Many factors may cause differences between current expectations and actual results, including: unexpected safety or efficacy data observed during preclinical or clinical trials; clinical trial site activation or enrollment rates that are lower than expected; changes to Revuforj's or Niktimvo’s commercial availability; changes in expected or existing competition; changes in the regulatory environment; failure of Syndax's collaborators to support or advance collaborations or product candidates; and unexpected litigation or other disputes. Other factors that may cause Syndax's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Syndax's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" sections contained therein. Except as required by law, Syndax assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Niktimvo is a trademark of Incyte.
All other trademarks are the property of their respective owners.

Syndax Contact
Sharon Klahre
Syndax Pharmaceuticals, Inc.
sklahre@syndax.com
Tel 781.684.9827

SNDX-G

SYNDAX PHARMACEUTICALS, INC.
(unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
			September 30,				December 31,
(In thousands)			2026				2025
Cash, cash equivalents, short and long-term investments			$	551,079			$	394,070
Total assets			$	692,671			$	529,706
Total liabilities			$	709,851			$	465,076
Total stockholders' (deficit) equity			$	(17,180	)		$	64,630
Common stock outstanding				89,989,347				87,405,979
Common stock and common stock equivalents*				116,512,240				103,437,561
*Common stock and common stock equivalents:
	Common stock			89,989,347				87,405,979
	Common stock warrants (pre-funded)			-				285,714
		Common stock and pre-funded stock warrants		89,989,347				87,691,693
	Options to purchase common stock			13,302,121				13,128,306
	Restricted Stock Units			3,123,422				2,617,562
	Conversion of convertible notes			10,097,350				-
		Total common stock and common stock equivalents		116,512,240				103,437,561

SYNDAX PHARMACEUTICALS, INC.
(unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
			Three Months Ended September 30,								Nine Months Ended September 30,
(In thousands, except share and per share data)			2026				2025				2026				2025
Revenue
	Product revenue, net		$	60,743				32,007			$	164,366				80,649
	Collaboration revenue, net			22,555				13,864				56,584				22,975
Total revenues				83,298				45,871				220,950				103,624
Operating expenses:
	Cost of product sales		$	13,996				2,100			$	19,837				4,264
	Research and development			67,481				56,280				194,362				180,143
	Selling, general and administrative			43,716				44,917				122,843				129,753
Total operating expenses				125,193				103,297				337,042				314,160
Loss from operations				(41,895	)			(57,426	)			(116,092	)			(210,536	)
Other (expense) income, net:
	Royalty interest expense			(11,812	)			(8,283	)			(35,777	)			(24,186	)
	Convertible note interest expense			(1,164	)			-				(1,719	)			-
	Other interest expense			(2	)			-				(4	)			(6	)
	Interest income			5,593				5,269				12,900				18,402
	Other expense			(153	)			(275	)			(777	)			(1,082	)
Total other (expense) income, net				(7,538	)			(3,289	)			(25,377	)			(6,872	)
Net loss			$	(49,433	)		$	(60,715	)		$	(141,469	)		$	(217,408	)
Other comprehensive loss:
	Unrealized (loss) gain on marketable securities			(1,528	)			240				(2,120	)			362
Other comprehensive loss				(50,961	)			(60,475	)			(143,589	)			(217,046	)
Net loss per share:
Basic and diluted loss per share attributable to common stockholders			$	(0.55	)		$	(0.70	)		$	(1.59	)		$	(2.51	)
Weighted-average common shares used in calculating:
Basic and diluted loss per share attributable to common stockholders				89,789,842				86,620,992				89,017,885				86,531,218

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Syndax’s third-quarter 2026 revenue and loss?

Syndax reported $83.3 million in revenue and a net loss attributable to common stockholders of $49.4 million, or $0.55 per share. Revenue increased 82% year over year, while the loss narrowed from $60.7 million, or $0.70 per share, in the comparable prior-year quarter.

Why is Syndax stopping axatilimab development in idiopathic pulmonary fibrosis?

Syndax does not plan further axatilimab development in idiopathic pulmonary fibrosis because the Phase 2 MAXPIRe trial did not meet its primary endpoint. No new safety signals were identified, and the results do not affect ongoing axatilimab trials in other potential indications.

How does Syndax calculate its Niktimvo collaboration revenue?

Syndax records 50% of Niktimvo’s net commercial profit, defined as net product revenue minus cost of sales and commercial expenses. Niktimvo net revenue, recorded by partner Incyte, was $67.4 million in the third quarter of 2026, producing $22.6 million in collaboration revenue for Syndax.

How many Revuforj patients resume treatment after a stem-cell transplant?

Claims data indicate that about 60% of relapsed or refractory KMT2A-rearranged patients who proceed to transplant after Revuforj resume therapy afterward, compared with about 50% of corresponding NPM1-mutated patients. Approximately 50% and approximately 40%, respectively, proceed to transplant after receiving Revuforj.