Syndax reports Q2 EPS (83c), consensus ($1.01)

Reports Q2 revenue $37.96M, consensus $26.64M. For the second quarter, Syndax’s (SNDX) share of the Niktimvo product contribution, reported as collaboration revenue, was $9.4M. “Syndax reported another remarkable quarter. With strong Revuforj and Niktimvo sales momentum along with our expectation for stable expenses over the next few years and more than $500 million in cash, we are well on our way to becoming a profitable company with two blockbuster products,” said Michael Metzger, CEO. “Notably, Revuforj net revenue increased 43% quarter-over-quarter, even with approximately a third of patients pausing treatment to receive a stem cell transplant. Revuforj is poised for continued growth as we further penetrate the KMT2A population and as patient recontinuations following stem cell transplantation build meaningfully. Importantly, we are nearing another major inflection point with the anticipated approval of Revuforj as the first therapy for R/R mNPM1 AML. Longer-term, our leadership in the menin space positions us to be first to the frontline and meaningfully expand the franchise.”