Companies /Healthcare

Syndax Pharmaceuticals Inc

NASDAQ: SNDX Biotechnology
$19.54
▼ $0.62 (−3.08%) today
Markets closed · 8:52pm ET

Q1 2025 Earnings

Reported May 5, 2025, 4:02pm ET · SEC source
$-0.98
Beat +23.04%
EPS · est. $-1.27
$20.0M
Beat +23.87%
Revenue · est. $16.2M
−23.0%
Trailing market
SNDX vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−24%−16%−8%0May 5May 6report 4:02pm ETearnings−0.7%−24.3%
−24%−16%−8%0May 5May 6earnings−0.7%−24.3%
SNDX −24.3%S&P 500 −0.7%
−24%−16%−8%0May 5May 6report 4:02pm ETearnings−0.7%−24.3%
−24%−16%−8%0May 5May 6earnings−0.7%−24.3%
SNDX −24.3%NASDAQ −0.7%
−30%−20%−10%0May 5May 13report 4:02pm ETearnings+4.1%−27.5%
−30%−20%−10%0May 5May 13earnings+4.1%−27.5%
SNDX −27.5%S&P 500 +4.1%
−20%0May 5May 13report 4:02pm ETearnings+6.1%−27.5%
−20%0May 5May 13earnings+6.1%−27.5%
SNDX −27.5%NASDAQ +6.1%
−1.17%
Day of report
−21.59%
Next session
−19.01%
One week
−17.76%
30 days

S&P 500 over the same 30 days: +5.24%.

Did SNDX Beat Earnings? Q1 2025 Results

Syndax Pharmaceuticals delivered a strong double beat in Q1 2025, with the commercial momentum behind its newly launched oncology drugs driving results well ahead of Wall Street expectations. The company posted a net loss of $0.98 per share, beating the consensus estimate of $1.27 by 23.04%, while revenue of $20.04 million cleared estimates of $16.18 million by 23.87%, fueled almost entirely by Revuforj net product sales marking its first full quarter on the U.S. market. The standout performance drew analyst attention, with at least one major Wall Street firm raising its price target on the stock, citing Revuforj sales that roughly doubled initial projections. The net loss nonetheless widened to $84.85 million as SG&A expenses nearly doubled to $41.03 million year-over-year to support the commercial build-out, and R&D costs rose to $61.64 million including a $10.00 million milestone payment. Looking ahead, Syndax guided for full-year 2025 total operating expenses of $415 million to $435 million, while management expressed confidence that its $602.13 million cash position is sufficient to carry the company to profitability.

Key Takeaways
  • First full quarter of Revuforj U.S. launch generating $20.0 million in net revenue
  • First partial quarter of Niktimvo U.S. launch generating $13.6 million in net revenue (reported by Incyte)
  • Excellent commercial execution and clinical profile of first- and best-in-class medicines

“I'm very pleased to report an outstanding quarter in which Revuforj and Niktimvo generated a combined $34 million in net sales. We believe this success is a reflection of excellent commercial execution and the clinical profile of these first- and best-in-class medicines.”

Syndax Pharmaceuticals CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2025, Syndax expects R&D expenses of $70–$75 million and total R&D plus SG&A expenses of $110–$115 million. For full year 2025, R&D expenses are expected at $260–$280 million and total R&D plus SG&A at $415–$435 million, including approximately $45 million in non-cash stock compensation. The company is not providing revenue guidance at this time. Syndax expects its cash, cash equivalents and investments of $602.1 million, combined with anticipated product revenue and interest income, will enable the company to reach profitability.

SNDX YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$-80,000,000$-40,000,000$0$2,999$19.2MGross Profit$-88,481,935$-83,757,000Operating Income$-102,458,640$-84,846,000Net Income
$-80,000,000$-40,000,000$0Gross ProfitOperating IncomeNet Income

SNDX Revenue by Segment

Revuforj (revumenib)$20.0M
Niktimvo (axatilimab-csfr) - Collaboration Revenue
Niktimvo (axatilimab-csfr) - collaboration revenue
Niktimvo (axatilimab-csfr)$13.6M
Milestone, License and Royalty Revenue

Figures from SEC filings and company reports. Not investment advice.