Company expects topline Phase 2 data for Niktimvo in IPF and cGVHD in 4Q26
Syndax maintains 2026 guidance for R&D plus SG&A expenses at about $400 mln, excluding $50 mln stock comp
Company expects IND submissions for SNDX-4321 and SNDX-62122 by end of 2026, with Phase 1 trials in 2027
Overview
US cancer drugmaker's Q2 revenue rose 92% yr/yr on strong Revuforj and Niktimvo sales
Q2 net loss was higher than analyst expectations
Company expanded pipeline with new EGFR and menin inhibitors for NSCLC and myelofibrosis
Result drivers
Revuforj prescription growth - Co said Revuforj revenue rose on higher prescriptions and longer average treatment duration, especially in post-transplant setting
Niktimvo sales - Niktimvo revenue increased, which co attributed to its unique mechanism of action in cGVHD and commercial opportunity
R&D spending - Research and development expenses rose due to increased costs for frontline revumenib trials in AML
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Syndax Pharmaceuticals Inc is $37.00, about 92.3% above its August 3 closing price of $19.24
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