Syndax Pharmaceuticals (SNDX) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was $83.3M, up 82% YoY; Revuforj product revenue was $60.7M and Niktimvo collaboration revenue was $22.6M.

• Revuforj uptake strengthened across R/R NPM1-mutated and KMT2A-rearranged leukemia, with post-transplant treatment resumption supporting longer-term growth.

• Expansion programs span frontline leukemia, chronic GVHD, myelofibrosis and NSCLC; Revuforj peak U.S. annual net revenue potential is above $2B with anticipated frontline indications.

Financial highlights

• Q3 revenue was $83.3M vs. $45.9M in Q3 2025; nine-month revenue was $221.0M vs. $103.6M.

• Q3 net loss narrowed to $49.4M from $60.7M; operating loss was $41.9M vs. $57.4M.

• Q3 R&D expense was $67.5M vs. $56.3M and SG&A was $43.7M vs. $44.9M; nine-month R&D was $194.4M and SG&A was $122.8M.

• Q3 cost of product sales rose to $14.0M from $2.1M, including a one-time $10.0M Revuforj milestone expense to AbbVie.

Outlook and guidance

• FY26 R&D and SG&A guidance remains ~$400M, excluding estimated $50M non-cash stock compensation expense.

• Post-transplant Revuforj patients are expected to become a more meaningful growth driver in 2027 as patients resume and remain on treatment.

• SNDX-4321 IND is targeted by year-end 2026, with Phase 1 planned for 2027; SNDX-62122 IND and Phase 1 start are expected in Q4 2027.

• Revumenib proof-of-principle myelofibrosis trial is expected to start in Q4 2026, with initial data in H2 2027; MenTain Phase 2 is expected to start in Q1 2027.

• Axatilimab plus ruxolitinib Phase 2 topline data are expected in Q1 2027; Phase 3 data with corticosteroids are expected in early 2028.