Syndax Pharmaceuticals (SNDX) Q1 2026 earnings summary

Executive summary

• Achieved $64.9 million in Q1 2026 revenue, up 224% year-over-year, driven by strong demand and launches of Revuforj and Niktimvo.

• Revuforj net revenue reached $48.9 million, up 144% year-over-year and 11% sequentially, with robust adoption in NPM1 and KMT2A indications.

• Niktimvo delivered $55.1 million in net revenue to partner, with $15.9 million recognized as collaboration revenue, maintaining strong new patient starts and persistency.

• Net loss narrowed to $42.7 million ($0.48 per share) from $84.8 million ($0.98 per share) year-over-year, driven by higher revenues and lower operating expenses.

• Well-funded with $352.1 million in cash and equivalents as of March 31, 2026, supporting ongoing R&D and commercial investments.

Financial highlights

• Total Q1 2026 revenue was $64.9 million, up from $20.0 million in Q1 2025.

• Revuforj product revenue was $48.9 million, up 144% year-over-year.

• Niktimvo collaboration revenue was $15.9 million, a significant increase from a $0.2 million loss in Q1 2025.

• Operating expenses decreased to $99.1 million from $103.8 million year-over-year, with R&D at $58.8 million and SG&A at $37.6 million.

• Net loss narrowed to $42.7 million, and cash and equivalents stood at $352.1 million.

Outlook and guidance

• Full-year 2026 R&D plus SG&A expenses expected to be ~$400 million, excluding $50 million in non-cash stock compensation.

• Sufficient liquidity to fund planned operations and ongoing R&D and commercialization, with multiple pivotal trial readouts and potential label expansions for both products expected in 2026.

• No formal revenue guidance provided due to early launch phase and competitive dynamics.