Syndax Pharmaceuticals Inc
Q2 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +2.84%.
Did SNDX Beat Earnings? Q2 2025 Results
Syndax Pharmaceuticals delivered a standout second quarter, posting revenue of $37.96 million against a consensus estimate of $26.64 million, a 42.48% beat that represented a staggering 984.5% increase from the year-ago period, while its loss per share of $0.83 came in 17.50% better than the $1.01 analysts had expected. The driving force behind the quarter was the accelerating commercial momentum of both Revuforj and Niktimvo, with Revuforj generating $28.60 million in net product revenue, a 43% sequential jump, as the first-in-class menin inhibitor continues building its patient base across relapsed or refractory acute leukemia settings. Shares responded sharply, rising roughly 15.8% as investors absorbed the results. Looking ahead, Syndax faces a pivotal October 25, 2025 PDUFA date for Revuforj's potential expansion into mutant NPM1 AML, while management reiterated full-year operating expense guidance of $370 to $390 million and expressed confidence that its $517.86 million cash position will carry the company to profitability without additional capital.
- Revuforj net revenue grew 43% quarter-over-quarter to $28.6 million driven by robust KMT2A patient identification and uptake
- Niktimvo generated $36.2 million in net revenue in its first full quarter of launch, with over 700 patients started on treatment
- Approximately 70% of Revuforj use in second- or third-line treatment settings
- Over 80-90% of bone marrow transplant centers have ordered Niktimvo
- Niktimvo already profitable to Syndax in first full quarter
“Syndax reported another remarkable quarter. With strong Revuforj and Niktimvo sales momentum along with our expectation for stable expenses over the next few years and more than $500 million in cash, we are well on our way to becoming a profitable company with two blockbuster products. Notably, Revuforj net revenue increased 43% quarter-over-quarter, even with approximately a third of patients pausing treatment to receive a stem cell transplant. Revuforj is poised for continued growth as we further penetrate the KMT2A population and as patient recontinuations following stem cell transplantation build meaningfully. Importantly, we are nearing another major inflection point with the anticipated approval of Revuforj as the first therapy for R/R mNPM1 AML. Longer-term, our leadership in the menin space positions us to be first to the frontline and meaningfully expand the franchise.”
Syndax Pharmaceuticals CEO, on the earnings call
Forward Guidance & Outlook
For Q3 2025, Syndax expects total R&D plus SG&A expenses of $95 to $100 million (excluding non-cash stock compensation). Full year 2025 R&D plus SG&A expenses are expected to be $370 to $390 million (excluding non-cash stock compensation), unchanged from prior guidance. The company expects its operating expense base to remain stable over the next few years. Management believes its $517.9 million in cash, equivalents and investments, combined with anticipated product revenue and interest income, will enable the company to reach profitability without providing specific revenue guidance. Niktimvo's proportion of net revenue retained by Syndax is expected to materially grow over time. The PDUFA action date for R/R mNPM1 AML approval is October 25, 2025. Topline MAXPIRe IPF data is anticipated in the second half of 2026.
SNDX YoY Financials
SNDX Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.