Q2 26 EPS
$-0.55
MISS 26.00%
Est. $-0.44
Q2 26 Revenue
$72.8M
MISS 8.24%
Est. $79.3M
vs S&P Since Q2 26
+5.6%
BEATING MARKET
SNDX +6.0% vs S&P +0.5%
Market Reaction
Did SNDX Beat Earnings? Q2 2026 Results
Syndax Pharmaceuticals posted a mixed second quarter for 2026, falling short of Wall Street expectations on both the top and bottom lines despite delivering nearly 92% year-over-year revenue growth. The company reported revenue of $72.79 million, mis… Read more Syndax Pharmaceuticals posted a mixed second quarter for 2026, falling short of Wall Street expectations on both the top and bottom lines despite delivering nearly 92% year-over-year revenue growth. The company reported revenue of $72.79 million, missing the consensus estimate of $79.33 million by 8.24%, while its loss per share of $0.55 came in 26% wider than the expected $0.44 loss, leaving investors weighing robust commercial momentum against a steeper-than-anticipated earnings shortfall. The primary growth engine was Revuforj, which generated $54.70 million in net revenue, up 91% year-over-year, fueled by an expanding patient base in the post-transplant setting and six consecutive quarters of double-digit prescription growth. Meanwhile, Syndax's share of collaboration profit from Niktimvo reached $18.09 million, up 93% year-over-year. The company closed the quarter with $575.08 million in cash and reiterated full-year operating expense guidance of roughly $400 million, with management affirming it expects to reach profitability on existing resources, supported by anticipated topline data readouts in Q4 2026 that could meaningfully expand its commercial footprint.
Key Takeaways
- • Increasing average treatment duration for Revuforj driven by growing pool of patients receiving therapy post-transplant
- • Sixth consecutive quarter of double-digit net revenue and prescription growth for Revuforj
- • Robust demand in both NPM1 and KMT2A acute leukemia subtypes
- • Strong new patient starts and solid persistency for Niktimvo in cGVHD
- • 98% formulary coverage for both Revuforj indications across covered lives
- • Decreased SG&A expenses as prior-year launch costs were not repeated
- • Over 30% of Q2 2026 Revuforj net revenue from NPM1 business
- • Approximately 75% of Revuforj use in 2L/3L and approximately 40% in combination
SNDX Forward Guidance & Outlook
For full year 2026, Syndax expects total R&D plus SG&A expenses of approximately $400 million, excluding $50 million in estimated non-cash stock compensation expense. The company expects its cash, cash equivalents and short-term investments, combined with anticipated product revenue, collaboration revenue, and interest income, to enable it to reach profitability. Key upcoming catalysts include topline Phase 2 data for axatilimab in IPF and frontline cGVHD in Q4 2026, publication of R/R NUP98r data in Q4 2026, initiation of the RAVEN Phase 2 trial in H2 2026, initiation of the MenTain Phase 2 trial around year-end 2026, IND submission for SNDX-4321 by year-end 2026, and proof-of-principle trial of revumenib in myelofibrosis expected to initiate in Q4 2026. Peak annual net revenue in excess of $2 billion is expected for revumenib in the U.S. alone in frontline AML.
SNDX YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
SNDX Revenue by Segment
With YoY comparisons, source: SEC Filings
“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. 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.”
— Michael A. Metzger, Q2 2026 Earnings Press Release
SNDX Earnings Trends
SNDX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SNDX EPS Trend
Earnings per share: estimate vs actual
SNDX Revenue Trend
Quarterly revenue: estimate vs actual
SNDX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $-0.44 | $-0.55 | -26.00% | $72.8M | -8.24% |
| Q1 26 BEAT | $-0.59 | $-0.48 | +18.75% | $64.9M | -7.11% |
| Q4 25 MISS FY | $-0.58 | $-0.78 | -34.88% | $68.7M | +6.15% |
| FY Full Year | — | $-3.29 | — | $172.4M | — |
| Q3 25 BEAT | $-0.71 | $-0.70 | +1.55% | $45.9M | -4.38% |
| Q2 25 BEAT | $-1.01 | $-0.83 | +17.50% | $38.0M | +42.48% |
| Q1 25 BEAT | $-1.27 | $-0.98 | +23.04% | $20.0M | +23.87% |