Syndax Pharmaceuticals Inc
Q2 2026 Earnings
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, 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.
- 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
“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.”
Syndax Pharmaceuticals CEO, on the earnings call
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
SNDX Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.