Q1 26 EPS
$-0.48
BEAT +18.75%
Est. $-0.59
Q1 26 Revenue
$64.9M
MISS 7.11%
Est. $69.8M
vs S&P Since Q1 26
+6.1%
BEATING MARKET
SNDX +10.0% vs S&P +4.0%
Market Reaction
Did SNDX Beat Earnings? Q1 2026 Results
Syndax Pharmaceuticals delivered a mixed but broadly encouraging first quarter for fiscal 2026, posting a narrower-than-expected loss while revenue, though shy of forecasts, reflected explosive year-over-year growth across both of its commercial prod… Read more Syndax Pharmaceuticals delivered a mixed but broadly encouraging first quarter for fiscal 2026, posting a narrower-than-expected loss while revenue, though shy of forecasts, reflected explosive year-over-year growth across both of its commercial products. The company reported a net loss of $0.48 per share, beating the consensus estimate of $0.59 by 18.75%, even as revenue of $64.86 million fell about 7.11% short of the $69.83 million analysts had anticipated. The top-line figure nonetheless represented a 223.6% increase from the year-ago period, fueled primarily by Revuforj net revenue of $48.92 million and Niktimvo collaboration revenue of $15.94 million, with total prescriptions for Revuforj up roughly 160% year-over-year as adoption in NPM1-mutated AML continued to broaden. The net loss narrowed sharply to $42.67 million from $84.85 million a year earlier, reflecting the revenue ramp and lower operating expenses. Looking ahead, management expects its roughly $400 million combined R&D and SG&A expense base to hold steady and anticipates that revenue growth, including anticipated clinical catalysts in late 2026, will carry the company to profitability.
Key Takeaways
- • Increasing uptake of Revuforj in R/R NPM1-mutated AML with over 40% of Q1 new patients being NPM1m
- • Total Revuforj prescriptions increased ~160% year-over-year and ~13% sequentially
- • Nearly 50% of KMT2A patients proceeding to HSCT, up from prior 33% estimate, with ~45% resuming therapy post-transplant
- • 97% of all covered lives have formulary coverage for both Revuforj indications
- • Niktimvo captured ~32% share of 3L+ chronic GVHD market within first year of launch
- • ~60-70% of patients who started Niktimvo in Q1 2025 remained on treatment in Q1 2026
- • ~300 new patient starts for Niktimvo in Q1 2026 with ~5,000 infusions administered
- • R&D and SG&A expenses decreased year-over-year due to lower launch costs and milestone expenses
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 operating expense base to remain stable over the next couple of years. Syndax expects that cash, cash equivalents and short-term investments, combined with anticipated product revenue, collaboration revenue, and interest income, will enable the company to reach profitability. Multiple clinical catalysts are anticipated in 2026, including new revumenib real-world, frontline, and post-HSCT maintenance data in Q2 2026, and topline Phase 2 data for axatilimab in IPF and newly diagnosed chronic GVHD in Q4 2026. The RAVEN trial is expected to initiate in H2 2026. The company also plans to initiate a program to generate proof-of-principle clinical data with revumenib in myelofibrosis.
SNDX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
SNDX Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered over $100 million in combined Revuforj and Niktimvo net sales in the first quarter, highlighting strong demand for our medicines and advancing the company towards profitability. Revuforj net revenue totaled $49 million, underscoring our leadership in menin inhibition and strong adoption in both R/R NPM1m AML and KMT2Ar acute leukemia. Notably, recent analysis indicates that Revuforj is enabling nearly half of KMT2A patients to receive a stem cell transplant, providing the best chance for durable remission and positioning the franchise for long-term growth as an increasing number of patients return to therapy post-transplant.”
— Michael A. Metzger, Q1 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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% |