Syndax (Nasdaq: SNDX) Q2 revenue surges 92% to $72.8M
Rhea-AI Filing Summary
Syndax Pharmaceuticals reported strong second‑quarter 2026 results, with total revenue of $72.8 million, up 92% year over year, driven by Revuforj net revenue of $54.7 million and Niktimvo collaboration revenue of $18.1 million. Niktimvo’s underlying net revenue was $60.3 million. Operating expenses were $112.8 million, leading to a net loss of $49.4 million, or $0.55 per share, an improvement from a $71.8 million loss a year earlier. Cash, cash equivalents, and investments totaled $575.1 million as of June 30, 2026, with 89.4 million common shares and prefunded warrants outstanding.
The company highlighted rapid commercial uptake, including approximately 1,500 Revuforj prescriptions in the quarter and six consecutive quarters of double‑digit revenue and prescription growth. Multiple Phase 2 and Phase 3 trials are underway across acute leukemia, chronic graft‑versus‑host disease, idiopathic pulmonary fibrosis, myelofibrosis, and EGFR‑mutated non‑small cell lung cancer, alongside new assets SNDX‑4321 and SNDX‑62122. For full‑year 2026, Syndax continues to expect combined R&D and SG&A expenses of about $400 million, excluding $50 million of estimated non‑cash stock compensation, and states that its liquidity and anticipated revenues are expected to enable it to reach profitability.
Positive
- In Q2 2026, total revenue rose 92% year over year to $72.8 million, with Revuforj and Niktimvo collaboration revenue driving growth while net loss narrowed to $49.4 million from $71.8 million.
Negative
- None.
Filing Explained
The filing reports 116,271,946 common-stock equivalents versus 89,150,619 shares outstanding, including 10,097,350 from note conversion.
This Form 8-K furnishes Syndax’s second-quarter results and business-update exhibits under Items 2.02 and 9.01; the information is not treated as filed for Section 18 liability or automatically incorporated by reference. For existing common holders, its structural disclosure is the quarter-end share-equivalent base rather than a newly announced transaction.
At June 30, 2026, the company reported 89,150,619 common shares outstanding and 116,271,946 common stock and common stock equivalents, including 10,097,350 attributed to convertible-note conversion, 13,389,854 options, and 3,348,409 restricted stock units. The wider figure is a share-equivalent presentation, so it is not the same as the number of common shares currently outstanding.
The latest supplied quarterly fundamentals place March 31 cash and equivalents at
Sources and calculations
- Syndax Form 8-K and Exhibits 99.1 and 99.2 (2026-08-04)
- Form 8-K purpose (2026-07-17)
- Syndax first-quarter 2026 fundamentals (2026-03-31)
- Cash and equivalents vs quarterly operating cash outflow, in days of cash use $130,893,000 / ($50,345,000 / 90) = [object Object]
8-K Event Classification
Key Figures
Key Terms
relapsed or refractory (R/R) acute myeloid leukemia (AML) medical
chronic graft-versus-host disease (cGVHD) medical
idiopathic pulmonary fibrosis (IPF) medical
menin inhibitor medical
allosteric EGFR inhibitor medical
measurable residual disease (MRD) medical
Earnings Snapshot
The company continues to expect 2026 research and development plus selling, general and administrative expenses to be approximately $400 million, excluding about $50 million of estimated non-cash stock compensation expense.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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How did Niktimvo contribute to Syndax Pharmaceuticals (SNDX) results in Q2 2026?
What expense guidance did Syndax (SNDX) give for full‑year 2026?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On August 4, 2026, Syndax Pharmaceuticals, Inc. (the “Company”) issued a press release and presentation announcing its financial results for the quarter and year ended June 30, 2026. A copy of the press release and presentation are furnished as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K and are incorporated herein by reference.
The information contained in this Item 2.02 and in Exhibits 99.1 and 99.2 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
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Description
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99.1 |
Press Release, dated August 4, 2026 |
99.2 |
Corporate Presentation, dated August 4, 2026 |
104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SYNDAX PHARMACEUTICALS, INC. |
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By: |
/s/ Michael A. Metzger |
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Michael A. Metzger |
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Chief Executive Officer |
Dated: August 4, 2026
Exhibit 99.1
Syndax Reports Second Quarter 2026 Financial Results and Provides Business Update
NEW YORK, NY, August 4, 2026 (GLOBE NEWSWIRE) – Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company advancing innovative cancer therapies, today reported its financial results for the second quarter ended June 30, 2026, and provided a business update.
“We delivered another quarter of strong commercial results, with both our medicines now annualizing at well over $200 million each and positioned for further growth,” said Michael A. Metzger, Chief Executive Officer. “Notably, we achieved $55 million in Revuforj net revenue and the sixth consecutive quarter of double-digit net revenue and prescription growth, highlighting our leadership in menin inhibition, robust demand in both NPM1 and KMT2A, and an increasing average treatment duration. Niktimvo net revenue grew to $60 million this quarter, underscoring the benefits of its unique mechanism of action in cGVHD and the substantial commercial opportunity.”
Mr. Metzger continued, “We’ve made excellent progress advancing our growing pipeline targeting multiple blockbuster opportunities, including two recently announced assets with first- and best-in-class potential in EGFR-mutated NSCLC and myelofibrosis. We are positioned to be first to frontline AML with Revuforj, driven by strong global site initiation and patient enrollment in our pivotal trials. We also have multiple near-term catalysts with Niktimvo Phase 2 data in IPF and frontline cGVHD expected in the fourth quarter, plus additional practice-informing and
potentially guideline-enabling Revuforj data in acute leukemia.”
Recent Business Highlights and Anticipated Milestones
Revuforj® (revumenib)
Niktimvo™ (axatilimab-csfr)
Pipeline Assets
SNDX-4321
SNDX-62122
Second Quarter 2026 Financial Results
As of June 30, 2026, Syndax had cash, cash equivalents, and short- and long-term investments of $575.1 million and 89.4 million common shares and prefunded warrants outstanding.
Total revenue for the second quarter of 2026 was $72.8 million, which consisted of $54.7 million in Revuforj net revenue and $18.1 million in Niktimvo collaboration revenue. The Niktimvo collaboration revenue is derived from the $60.3 million in Niktimvo net revenue that was previously
reported by the Company's partner Incyte for the second 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.
Second quarter 2026 research and development expenses increased to $68.0 million from $62.2 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.
Second quarter 2026 selling, general and administrative expenses decreased to $41.5 million from $43.8 million for the comparable prior year period. The year-over-year change was primarily the result of decreased commercial expenses due to launch costs incurred in the second quarter of 2025 for Revuforj and Niktimvo that were not incurred in the same period in 2026.
For the six months ended June 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 $71.8 million, or $0.83 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-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, August 4, 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: Syndax2Q26
Domestic Dial-in Number: 800-590-8290
International Dial-in Number: 240-690-8800
Live webcast: https://sndx-2q26.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). Axatilimab is also being studied in an ongoing Phase 2 trial in patients with idiopathic pulmonary fibrosis (NCT06132256).
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. |
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(unaudited) |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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June 30, |
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December 31, |
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(In thousands) |
2026 |
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2025 |
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Cash, cash equivalents, short and long-term investments |
$ |
575,077 |
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$ |
394,070 |
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Total assets |
$ |
703,652 |
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$ |
529,706 |
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Total liabilities |
$ |
688,553 |
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$ |
465,076 |
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Total stockholders' equity |
$ |
15,099 |
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$ |
64,630 |
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Common stock outstanding |
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89,150,619 |
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87,405,979 |
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Common stock and common stock equivalents* |
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116,271,946 |
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103,437,561 |
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*Common stock and common stock equivalents: |
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Common stock |
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89,150,619 |
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87,405,979 |
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Common stock warrants (pre-funded) |
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285,714 |
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285,714 |
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Common stock and pre-funded stock warrants |
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89,436,333 |
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87,691,693 |
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Options to purchase common stock |
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13,389,854 |
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13,128,306 |
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Restricted Stock Units |
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3,348,409 |
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2,617,562 |
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Conversion of convertible notes |
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10,097,350 |
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- |
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Total common stock and common stock equivalents |
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116,271,946 |
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103,437,561 |
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SYNDAX PHARMACEUTICALS, INC. |
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(unaudited) |
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(In thousands, except share and per share data) |
2026 |
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2025 |
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2026 |
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2025 |
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Revenue |
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Product revenue, net |
$ |
54,700 |
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28,600 |
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$ |
103,623 |
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48,642 |
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Collaboration revenue, net |
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18,088 |
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9,358 |
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34,029 |
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9,111 |
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Total revenues |
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72,788 |
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37,958 |
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137,652 |
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57,753 |
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Operating expenses: |
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Cost of product sales |
$ |
3,208 |
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1,279 |
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$ |
5,841 |
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2,164 |
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Research and development |
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68,036 |
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62,227 |
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126,881 |
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123,863 |
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Selling, general and administrative |
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41,539 |
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43,805 |
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79,127 |
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84,836 |
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Total operating expenses |
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112,783 |
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107,311 |
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211,849 |
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210,863 |
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Loss from operations |
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(39,995 |
) |
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(69,353 |
) |
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(74,197 |
) |
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(153,110 |
) |
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Other (expense) income, net: |
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Royalty interest expense |
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(12,119 |
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(7,854 |
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(23,965 |
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(15,903 |
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Convertible note interest expense |
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(555 |
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- |
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(555 |
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- |
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Other interest expense |
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(2 |
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(4 |
) |
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(2 |
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(6 |
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Interest income |
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3,746 |
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5,950 |
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7,307 |
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13,133 |
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Other expense |
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(438 |
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(586 |
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(624 |
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(807 |
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Total other (expense) income, net |
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(9,368 |
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(2,494 |
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(17,839 |
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(3,583 |
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Net loss |
$ |
(49,363 |
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$ |
(71,847 |
) |
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$ |
(92,036 |
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$ |
(156,693 |
) |
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Other comprehensive loss: |
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Unrealized (loss) gain on marketable securities |
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(151 |
) |
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(242 |
) |
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(592 |
) |
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122 |
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Other comprehensive loss |
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(49,514 |
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(72,089 |
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(92,628 |
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(156,571 |
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Net loss per share: |
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Basic and diluted loss per share attributable to common stockholders |
$ |
(0.55 |
) |
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$ |
(0.83 |
) |
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$ |
(1.04 |
) |
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$ |
(1.82 |
) |
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Weighted-average common shares used in calculating: |
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Basic and diluted loss per share attributable to common stockholders |
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88,991,317 |
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86,337,237 |
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88,625,508 |
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86,255,020 |
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Second Quarter 2026 Financial Results and Business Update August 4, 2026 Exhibit 99.2
Forward-looking statements disclosure This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate" and similar expressions (as well as other words or expressions referencing future events, progress, timing or circumstances) are intended to identify forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding future operations, financial results and the financial condition of Syndax Pharmaceuticals, Inc. (“Syndax” or the “Company”), including financial position, strategy and plans, the progress, timing, clinical development and scope of clinical trials and the reporting of clinical data for Syndax’s product candidates, the progress of regulatory submissions and approvals and subsequent commercialization and the potential use of Syndax’s product candidates to treat various cancer indications and fibrotic diseases, and Syndax’s expectations for liquidity and future operations, are forward-looking statements. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during preclinical studies or clinical trials, clinical site activation rates or clinical trial enrollment rates that are lower than expected; changes in expected or existing competition; the impact of macroeconomic conditions (the Russia-Ukraine war, inflation, among others) on Syndax’s business and that of the third parties on which Syndax depends, including delaying or otherwise disrupting Syndax’s clinical trials and preclinical studies, manufacturing and supply chain, or impairing employee productivity; failure of our collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes. Moreover, Syndax operates in a very competitive and rapidly changing environment. Other factors that may cause our actual results to differ from current expectations are discussed in Syndax’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” sections contained therein. New risks emerge from time to time. It is not possible for Syndax’s management to predict all risks, nor can Syndax assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied. Except as required by law, neither Syndax nor any other person assumes responsibility for the accuracy and completeness of the forward- looking statements. Syndax undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in Syndax’s expectations.
Strong 2Q26 results with multiple drivers for sustainable growth 1. Patent protection into at least late 2030s for Revuforj and Niktimvo and at least 2040s for SNDX-4321 and SNDX-62122. y/y, year-over-year; IPF, idiopathic pulmonary fibrosis; cGVHD, chronic graft-versus-host disease; EGFRm NSCLC, EGFR-mutated non-small cell lung cancer $575M in cash and equivalents; fully funded to advance strategic priorities Driving towards profitability with growing product revenues and strong patent protection into at least late 2030s1 Advanced leadership in menin inhibition; positioned to be 1st to frontline (1L) AML On track for Ph 2 axatilimab data in IPF and 1L cGVHD in 4Q26 Announced two new pipeline assets with first- and best-in-class potential in EGFRm NSCLC and myelofibrosis $55M in Revuforj net revenue (+91% y/y), highlighting leadership in menin inhibition, robust demand in NPM1 and KMT2A, and an increasing average duration of therapy $60M in Niktimvo net revenue (+67% y/y), resulting in $18M in collaboration revenue $73M in total revenue to Syndax (+92% y/y) ROBUST 2Q26 COMMERCIAL DEMAND EXCELLENT PIPELINE PROGRESS SOLID FINANCIAL FOUNDATION
Strong 2Q26 Revuforj results with sixth consecutive quarter of double-digit net revenue and prescription growth TRx, total prescriptions; HSCT, hematopoietic stem cell transplant; Tx, treatment ~1,630 patients treated commercially since launch 2Q26 Revuforj results $54.7M net revenue >30% of 2Q26 net revenue from NPM1 business ~1,500 total prescriptions ~121% growth vs. 2Q25 ~15% growth vs. 1Q26 91% growth vs. 2Q25 12% growth vs. 1Q26 $49M $55M $44M $32M $29M $8M $20M 1,500 1,300 1,150 850 680 500 130 Net revenue Approx. TRx 2Q growth reflects an increasing average treatment duration, primarily driven by a growing pool of patients on Tx post-HSCT Quarterly results
Strong fundamentals in place to drive Revuforj growth Increasing average treatment duration driven by evolving clinical practice Used in early lines of R/R treatment and in combinations: ~75% of use in 2L/3L ~40% of use in combination ~50% of KMT2A patients proceed to HSCT and ~50% have resumed Tx thus far Opportunity to address ~6.5K R/R patients annually: ~2K patients with R/R KMT2A-translocated acute leukemia ~4.5K patients with R/R NPM1-mutated AML Only FDA approved menin inhibitor for R/R KMT2A patients Leader in R/R NPM1m with room for further growth X = TREATMENT DURATION NEW PATIENT STARTS Comprehensive clinical development program underway targeting $5B+ U.S. TAM across R/R and frontline acute leukemia MARKET OPPORTUNITY
Revuforj is positioned for success with an outstanding commercial foundation All covered lives includes all commercially covered lives plus Medicare and Medicaid lives. Excellent payer coverage with no meaningful barriers to access of all covered lives with formulary coverage for both Revuforj indications 98% Broad and expanding prescriber base of Tier 1+2 accounts activated 88% total accounts (+11% q/q growth) >580
Strong Niktimvo 2Q26 results driven by robust demand >300 2Q26 new patients ~5,750 2Q26 infusions administered Syndax records 50% of the Niktimvo net commercial profit, defined as net revenue (recorded by Incyte) minus the cost of sales and commercial expenses. $60.3M 2Q26 net revenue to INCY 67% growth vs. 2Q25 9% growth vs. 1Q26 $18.1M 2Q26 collaboration revenue to SNDX 93% growth vs. 2Q25 13% growth vs. 1Q26 Performance reflects strong, consistent new patient starts and solid persistency
Niktimvo is positioned for continued growth and success in cGVHD Extended Tx Durations to Address Chronic Disease Broad Prescriber Base Strong Adoption in 4L with Growing Use in 3L cGVHD ~60-70% of patients stay on therapy for at least 12 months Strong Commercial Synergies Approx. one-third of 3L+ cGVHD market within 1.5 years of launch Nearly every U.S. BMT center has ordered and become a repeat customer Niktimvo targets overlap with key accounts where Syndax and Incyte have deep relationships 3L, third line; 4L, fourth line; BMT, bone marrow transplant centers; Tx, treatment
Recent medical meetings and publications highlight Syndax’s scientific leadership in menin inhibition Presented 4 revumenib abstracts, including an oral presentation of post-HSCT maintenance data Presented 12 revumenib abstracts spanning multiple acute leukemia settings and subtypes Published first data for an all-oral, menin-based combo in R/R NPM1m, KMT2Ar, & NUP98r AML Published landmark preclinical data showing potential for menin inhibition in MPNs July June June June Additional 1L, maintenance, real-world, and R/R revumenib data anticipated in 2H26 + beyond MPN, Myeloproliferative neoplasms
R/R, relapsed or refractory; 1L, frontline; AML, acute myeloid leukemia; SOC, standard of care; MRD, measurable residual disease; cGVHD, chronic graft-versus-host disease; rux, ruxolitinib; IPF, idiopathic pulmonary fibrosis; NSCLC, non-small cell lung cancer. *Trials led by Incyte. Asset Setting Pre-clinical Ph 1 Ph 2 Ph 3 FDA approved Revumenib R/R acute leukemia 1L AML (with SOC drugs) Post-HSCT maintenance MRD relapse Myelofibrosis (proof-of-principle) Axatilimab R/R cGVHD 1L cGVHD (with steroids)* 1L cGVHD (with rux)* IPF SNDX-4321 EGFRm NSCLC SNDX-62122 (next-gen menin inhibitor) Myelofibrosis A ROBUST AND GROWING PIPELINE OF PROGRAMS At least 4 innovative assets expected in the clinic in 2027 NEW Positioned to be the 1st to deliver pivotal 1L data for a menin inhibitor Phase 2 axatilimab data in IPF and 1L cGVHD anticipated in 4Q26
Expanding our pipeline to fuel the next phase of innovation and growth SNDX-4321 Next-generation menin inhibitor for myelofibrosis (MF) SNDX-62122 Novel, potentially disease-modifying mechanism in MF 1st candidate from our internally developed, wholly owned library of next-gen menin inhibitors Profile: Higher potency, increased selectivity, optimized PK, and activity against common resistance mutations IND submission + Ph 1 initiation expected in 2027, building on proof-of-principle trial of revumenib in MF SNDX-4321 allosteric binding site ATP site EGFR Mutant-selective, CNS-penetrant, allosteric EGFR inhibitor for NSCLC Novel approach to addressing patients with L858R mutations, CNS metastases, atypical activating mutations, or acquired resistance to current drugs Allosteric approach allows for: SNDX-4321 and ATP-site directed drugs (e.g., Tagrisso) to bind EGFR at the same time (‘double drugging’ may enhance efficacy and delay resistance) High selectivity (supports tolerability and combinability) IND submission expected by YE26; demonstration of monotherapy activity anticipated early 2028
Strong financial position with growing revenue and a robust balance sheet Financial Summary ($ in millions) Three Months Ended June 30 2026 2025 Product revenue, net 54.7 28.6 Collaboration revenue, net 18.1 9.4 Total revenues 72.8 38.0 Cost of product sales (3.2) (1.3) Research & development (R&D) (68.0) (62.2) Selling, general and administrative (SG&A) (41.5) (43.8) Total operating expenses (112.8) (107.3) Other (expense) income, net (9.4) (2.5) Net loss (49.4) (71.8) Totals may not sum due to rounding; 1. Includes short- and long-term investments; 2. Includes pre-funded warrants to purchase 285,714 common shares (rounded). AS OF 30 JUN 2026: $575.1M in cash and equivalents1 89.4M shares outstanding2 2026 R&D + SG&A EXPENSE GUIDANCE: $400M, excluding $50M in expected stock option expense On the road to profitability
Phase 2 readouts in IPF and 1L cGVHD in 4Q26 target new multi-billion-dollar opportunities Positioned to be 1st menin approved in 1L AML; peak annual net revenue in excess of $2B expected in the U.S. alone Two pipeline assets with best-in-class and blockbuster potential in EGFRm NSCLC and myelofibrosis Funded through profitability with capital to drive innovation and long-term value creation $575M in cash and equivalents Next-generation menin inhibitor Mutant-selective, allosteric EGFR inhibitor WELL POSITIONED FOR LONG-TERM GROWTH WITH MULTIPLE BLOCKBUSTER OPPORTUNITIES AND UPCOMING MILESTONES
Acute Leukemia Advance global enrollment in pivotal 1L trials of revumenib New 1L, maintenance, real-world, and R/R revumenib data in 2H26 + beyond Publish R/R NUP98r data in 4Q26 Myelofibrosis Initiate Ph 1/2 proof-of-principle trial with revumenib in 4Q26; initial data 2H27 Submit IND and initiate Ph 1 SNDX-62122 trial in 2027 Chronic GVHD Ph 2 axatilimab + ruxolitinib data in 4Q26 Ph 3 axatilimab + corticosteroid data early 2028 Idiopathic pulmonary fibrosis Ph 2 MAXPIRe data in 4Q26 EGFRm NSCLC Submit IND by YE 2026 Initiate Ph 1 trial in 2027; initial data early 2028 Anticipated milestones Revuforj (revumenib) & SNDX-62122 SNDX-4321 Niktimvo (axatilimab-csfr) Multiple near-term catalysts and blockbuster opportunities
Sarah, diagnosed with R/R acute leukemia FUELED BY A PASSION FOR PATIENTS
