Companies /Healthcare

Syndax Pharmaceuticals Inc

NASDAQ: SNDX Biotechnology
$19.54
▼ $0.62 (−3.08%) today
Markets closed · 8:12pm ET

Q4 2025 Earnings

Reported Feb 26, 2026, 4:02pm ET · SEC source
$-0.78
Miss −34.88%
EPS · est. $-0.58
$68.7M
Beat +6.15%
Revenue · est. $64.7M
+17.1%
Beating market
SNDX vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
0+4%+8%Feb 26Feb 27report 4:02pm ETearnings−0.6%+8.0%
0+4%+8%Feb 26Feb 27earnings−0.6%+8.0%
SNDX +8.0%S&P 500 −0.6%
0+4%+8%Feb 26Feb 27report 4:02pm ETearnings−0.4%+8.0%
0+4%+8%Feb 26Feb 27earnings−0.4%+8.0%
SNDX +8.0%NASDAQ −0.4%
−4%0+4%+8%Feb 25Mar 6report 4:02pm ETearnings−2.3%+8.5%
−4%0+4%+8%Feb 25Mar 6earnings−2.3%+8.5%
SNDX +8.5%S&P 500 −2.3%
−4%0+4%+8%Feb 25Mar 6report 4:02pm ETearnings−1.4%+8.5%
−4%0+4%+8%Feb 25Mar 6earnings−1.4%+8.5%
SNDX +8.5%NASDAQ −1.4%
−0.39%
Day of report
+5.03%
Next session
+4.40%
One week
+8.76%
30 days

S&P 500 over the same 30 days: −8.32%.

Did SNDX Beat Earnings? Q4 2025 Results

Syndax Pharmaceuticals capped a transformative year with a strong commercial quarter, reporting Q4 2025 revenue of $68.73 million against a net loss of $0.78 per share, as its twin FDA-approved therapies continued to gain meaningful clinical traction. The primary engine of that growth was Revuforj, which generated $44.20 million in Q4 net product revenue, a 38% sequential increase fueled by the October 2025 label expansion into NPM1-mutated AML and a 35% quarter-over-quarter rise in total prescriptions to roughly 1,150. Niktimvo, co-commercialized with Incyte for chronic GVHD, contributed an additional $19.39 million to Syndax's share of collaboration profit. Full-year 2025 revenue reached $172.35 million, up sharply from $23.68 million in 2024, underscoring just how rapidly the company has pivoted from development to commercial stage. Looking ahead, management guided combined R&D and SG&A expenses of approximately $400 million for 2026, while expressing confidence that growing product revenues and a stable cost base will carry the company to profitability without requiring additional capital raises.

Key Takeaways
  • Revuforj Q4 net revenue increased 38% quarter-over-quarter driven by October 2025 FDA approval expanding label to R/R NPM1m AML
  • Total Revuforj prescriptions grew approximately 35% quarter-over-quarter to approximately 1,150 in Q4
  • Niktimvo net revenue grew 22% quarter-over-quarter to $56.0 million in Q4
  • Growing adoption of Revuforj in R/R NPM1m AML with early indicators suggesting ≥30% of new patient starts were NPM1 in Q4
  • Approximately 90% of U.S. BMT centers have ordered Niktimvo
  • 60-70% of patients who started Niktimvo in Q1 2025 remained on therapy at month 10
  • Growing combination use of Revuforj with approximately 40% of use in combination
  • Approximately 70% of Revuforj use in second/third line treatment

“We solidified our leadership position and proved the strength of Syndax's R&D and commercial capabilities in 2025, achieving our third FDA approval and successfully launching two first- and best-in-class medicines. We reached thousands of patients with Revuforj and Niktimvo and generated over $275 million in 2025 sales, rapidly advancing the company towards profitability.”

Syndax Pharmaceuticals CEO, on the earnings call

Forward Guidance & Outlook

For full year 2026, Syndax expects combined R&D and SG&A expenses of approximately $400 million, excluding $50 million in estimated non-cash stock compensation expense. The company expects its operating expense base to remain stable over the next couple of years and anticipates that its cash, cash equivalents, short-term investments, combined with anticipated product revenue, collaboration revenue, and interest income, will enable the company to reach profitability. Key 2026 milestones include advancing global enrollment in pivotal frontline revumenib trials, reporting topline Phase 2 axatilimab IPF data in Q4 2026, initiating the RAVEN Phase 2 frontline KMT2Ar trial in H2 2026, initiating a proof-of-principle clinical program for revumenib in myelofibrosis, and presenting additional real-world evidence and frontline/maintenance data at major medical meetings throughout 2026.

SNDX YoY Financials

Revenue$68.7M
Operating Income$-62,548,000
Net Income$-68,014,000

SNDX Revenue by Segment

Revuforj (revumenib)$44.2M
Niktimvo (axatilimab-csfr) - Collaboration Revenue$19.4M
Niktimvo (axatilimab-csfr) - collaboration revenue
Niktimvo (axatilimab-csfr)
Milestone, License and Royalty Revenue$5.1M

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