Syndax Pharmaceuticals (SNDX) Q2 2026 earnings summary

Executive summary

• Achieved total Q2 2026 revenue of $72.8M, up 92% year-over-year, driven by strong commercial performance of Revuforj and Niktimvo, both annualizing above $200M each.

• Revuforj continues to lead the menin inhibitor market in KMT2A and NPM1 acute leukemias, with increasing average treatment duration and expanding prescriber base.

• Niktimvo adoption is strong in chronic GVHD, with expansion opportunities in IPF and frontline chronic GVHD.

• Pipeline advanced with two new assets: SNDX-4321 (EGFR inhibitor for NSCLC) and SNDX-62122 (next-gen menin inhibitor for myelofibrosis), with IND submissions planned for 2026 and 2027.

• Net loss narrowed to $49.4M in Q2 2026 from $71.8M in Q2 2025, reflecting higher revenues and controlled expenses.

Financial highlights

• Revuforj net revenue was $54.7M in Q2 2026, up 91% year-over-year and 12% quarter-over-quarter; Niktimvo net revenue was $60.3M, up 67% year-over-year; collaboration revenue from Niktimvo was $18.1M.

• Total Q2 2026 revenue was $72.8M; six-month 2026 total revenue reached $137.7M.

• Cash, cash equivalents, and investments totaled $575.1M as of June 30, 2026, including $244M from a $250M convertible note issuance at 2.25%.

• R&D plus SG&A expense guidance for 2026 is ~$400M, excluding $50M in non-cash stock compensation.

• Net loss per share improved to $(0.55) in Q2 2026 from $(0.83) in Q2 2025.

Outlook and guidance

• Expects continued revenue growth from both Revuforj and Niktimvo, advancing toward profitability.

• Topline data from Phase 2 trials of axatilimab in IPF and frontline cGVHD expected in Q4 2026.

• IND submissions for SNDX-4321 and SNDX-62122 planned by end of 2026 and 2027.

• Fully funded to execute commercial and R&D priorities, including late-stage trials and pipeline development.

• Expense guidance for 2026 is $400M, excluding $50M in expected stock option expense.