Syndax Pharmaceuticals Inc. ( (SNDX) ) has released its Q4 earnings. Here is a breakdown of the information Syndax Pharmaceuticals Inc. presented to its investors.
Syndax Pharmaceuticals Inc. is a commercial-stage biopharmaceutical company focused on developing innovative cancer therapies, with a notable pipeline that includes the FDA-approved menin inhibitor Revuforj and the monoclonal antibody Niktimvo.
Syndax Pharmaceuticals reported its financial results for the fourth quarter and full year of 2024, highlighting the successful U.S. launch of Revuforj, which generated $7.7 million in net product revenue within the first five weeks. Additionally, the company launched Niktimvo in partnership with Incyte, targeting chronic graft-versus-host disease.
Key financial metrics include a net loss of $94.2 million for the fourth quarter, with increased research and development expenses reaching $65.5 million. The company also announced a $350 million royalty funding agreement with Royalty Pharma, expected to support its path to profitability. Syndax’s cash reserves stand at $692.4 million, anticipated to fund operations until profitability.
Strategically, Syndax is advancing multiple clinical trials for Revuforj and Niktimvo, including pivotal trials and combination therapies, with significant progress in treating acute leukemia and chronic GVHD. The company plans to initiate further trials in 2025, aiming to expand its therapeutic reach.
Looking ahead, Syndax remains focused on executing its development strategy and achieving profitability, leveraging its robust pipeline and strategic partnerships to address unmet medical needs in oncology.