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Syndax Pharmaceuticals Inc (SNDX)
NASDAQ:SNDX
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Syndax Pharmaceuticals
(NASDAQ:SNDX)
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Rating:48Neutral
Price Target:―
Syndax Pharmaceuticals faces significant risks due to declining revenues, persistent losses, and negative cash flows, which weigh heavily on its overall score. While the balance sheet remains strong with low leverage, the technical indicators suggest a bearish trend. The valuation is unattractive due to negative earnings. Despite these challenges, the recent earnings call provided some positive news with product launches and a strengthened financial position, partially offsetting the negative aspects. Overall, the company's ability to improve financial performance and achieve market penetration in the face of competition will be crucial for future stock performance.
Positive Factors
Product Launch Success
The successful launch of Revuforj indicates strong market demand and effective commercialization, which can drive future revenue growth and enhance market position in oncology.
Strong Financial Position
The substantial upfront payment from Royalty Pharma bolsters Syndax's financial stability, providing resources to fund operations and support R&D, crucial for sustaining long-term growth.
FDA Approvals
FDA approvals for two first-in-class medicines enhance Syndax's competitive edge, enabling entry into new markets and potential revenue streams, critical for long-term success in the biotech industry.
Negative Factors
Declining Revenue
The significant decline in revenue highlights challenges in sustaining growth and profitability, necessitating strategic adjustments to stabilize financial performance and ensure long-term viability.
Negative Cash Flow
Persistent negative cash flow indicates financial strain, limiting Syndax's ability to fund operations internally, which could hinder growth initiatives and require external financing.
Market Penetration Challenges
Limited market penetration for Revuforj suggests difficulties in scaling sales and achieving widespread adoption, which may impact revenue potential and competitive positioning.
Syndax Pharmaceuticals (SNDX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.29B
Dividend YieldN/A
Average Volume (3M)2.15M
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue Growth2133.71%
EPS Growth-15.38%
CountryUS
Employees270
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.83
Shares Outstanding86,141,860
10 Day Avg. Volume1,938,237
30 Day Avg. Volume2,147,153
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.54
Enterprise Value/Revenue8.94
Enterprise Value/Gross Profit9.29
Enterprise Value/Ebitda-2.18
Forecast
1Y Price Target
$33.10Price Target Upside120.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
Syndax Pharmaceuticals Business Overview & Revenue Model
Company DescriptionSyndax Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for cancer treatment. The company operates primarily in the biotechnology sector, with a commitment to discovering, developing, and delivering novel therapies that address unmet needs in oncology. Its core products include a pipeline of drug candidates designed to enhance the effectiveness of existing cancer treatments and improve patient outcomes.
How the Company Makes MoneySyndax Pharmaceuticals makes money through the development and commercialization of its drug candidates, primarily focusing on oncology treatments. The company's revenue model is centered around advancing its pipeline products through clinical trials, gaining regulatory approval, and eventually marketing these therapies to healthcare providers and patients. Revenue is generated from product sales, potential licensing agreements, and strategic partnerships with other pharmaceutical companies. These partnerships often provide upfront payments, milestone payments, and royalties as the products progress through development and reach the market. Significant factors contributing to its earnings include successful clinical trial results, regulatory approvals, and effective commercialization strategies.
Syndax Pharmaceuticals Earnings Call Summary
Earnings Call Date:Aug 04, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong performance with significant revenue growth and strategic advancements in pipeline and market expansion. The company shows a clear path to profitability with stable operating expenses and promising future opportunities. However, there are some dependencies on regulatory approvals and expectations for increased transplant rates.Q2-2025 Updates
Positive Updates
Strong Revenue Growth and Market Penetration
Revuforj and Niktimvo sales reached nearly $100 million in the first half of 2025, significantly exceeding expectations. Revuforj net revenue increased 43% quarter-over-quarter to $28.6 million.
Successful Launch of Niktimvo
Niktimvo reported $36.2 million in net revenue for the second quarter, up from $13.6 million in the first two months of the launch, with strong initial market penetration.
Promising Pipeline Developments
Anticipated approval of supplemental new drug application (sNDA) for Revuforj in relapsed/refractory mutant NPM1 AML with a PDUFA action date of October 25, 2025.
Expansion into Frontline Settings
Enrollment underway for pivotal frontline trials for Revuforj in combination with venetoclax and azacitidine, with a U.S. market opportunity exceeding $5 billion.
Operational Stability and Profitability Path
Operating expenses expected to remain stable for the next few years, with a strong balance sheet and a clear path to profitability.
Negative Updates
Challenges in Achieving Higher Transplant Rates
While the current commercial experience shows a 1/3 transplant rate, there is an expectation for this rate to increase, indicating current figures may not meet full potential.
Dependency on Regulatory Approvals
Future revenue growth is heavily dependent on the approval of the NPM1 label expansion and the inclusion in clinical guidelines.
Company Guidance
During the 2025 second-quarter earnings call, Syndax Pharmaceuticals provided guidance indicating robust commercial progress and pipeline execution, highlighting two first-in-class therapies, Revuforj and Niktimvo, with combined net product sales nearing $100 million in the first half of the year. Revuforj's net revenue grew 43% quarter-over-quarter to $28.6 million, despite 1/3 of patients pausing treatment for stem cell transplants, and is on track to reach 50% penetration of its 2,000 annual KMT2A acute leukemia patient target by year's end. Niktimvo generated $36.2 million in net revenue in its first full quarter, with over 4,000 infusions administered. Syndax anticipates profitability driven by these therapies, with operating expenses expected to remain stable over the next few years. Importantly, Revuforj's anticipated supplemental new drug application approval could expand its addressable U.S. market to over 6,000 patients and a $2 billion relapsed/refractory market opportunity.Syndax Pharmaceuticals Financial Statement Overview
Summary
Syndax Pharmaceuticals is facing significant financial challenges. Revenue has sharply declined, and there are persistent net losses and negative cash flows, which highlight the company's profitability issues. The balance sheet remains relatively strong with low leverage, but the decline in equity and continuous losses could pose risks if not addressed. Improvements in revenue generation and operational efficiency are necessary to stabilize the company's financial position.Income Statement
Syndax Pharmaceuticals has faced declining revenue, with a significant drop from $139.7 million in 2021 to $23.68 million in 2024. Margins are under pressure, with a consistent negative net profit margin due to high operating losses. The company's gross profit margin remains high at 96.52% in 2024, indicating efficient cost management. However, the sustained net losses and negative EBIT margins highlight profitability challenges.35
Negative
Balance Sheet
The balance sheet shows a strong equity base with stockholders' equity at $288 million in 2024, though it has decreased from $554 million in 2023. The equity ratio is robust at 39.75%. Debt levels are low with a debt-to-equity ratio of 0.04, indicating low financial leverage. The decline in equity and assets suggests potential risks if losses continue.55
Neutral
Cash Flow
Operating cash flow is negative, showing significant cash outflow from operations in 2024 at -$274.9 million. Free cash flow has also deteriorated, reflecting a challenging cash flow situation. The company's ability to generate cash is compromised, with a negative operating cash flow to net income ratio, raising concerns on sustainability without external financing.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 78.18M | 23.68M | 0.00 | 0.00 | 139.71M | 1.52M |
| Gross Profit | 75.19M | 22.85M | -12.00K | -454.00K | 139.25M | 1.52M |
| EBITDA | -321.21M | -313.82M | -229.94M | -151.76M | 27.28M | -70.29M |
| Net Income | -334.99M | -318.76M | -209.36M | -143.75M | 24.93M | -73.07M |
Balance Sheet | ||||||
| Total Assets | 596.15M | 724.82M | 612.88M | 497.24M | 449.66M | 300.61M |
| Cash, Cash Equivalents and Short-Term Investments | 468.71M | 572.88M | 577.58M | 481.27M | 439.94M | 293.06M |
| Total Debt | 1.68M | 345.74M | 1.64M | 1.16M | 20.97M | 20.54M |
| Total Liabilities | 438.73M | 436.69M | 58.68M | 29.79M | 41.29M | 48.42M |
| Stockholders Equity | 157.42M | 288.12M | 554.20M | 467.45M | 408.37M | 252.19M |
Cash Flow | ||||||
| Free Cash Flow | -302.67M | -274.90M | -160.60M | -133.90M | 29.00M | -71.26M |
| Operating Cash Flow | -302.67M | -274.90M | -160.60M | -133.68M | 29.13M | -71.26M |
| Investing Cash Flow | -46.10M | -219.78M | 117.61M | -186.19M | -40.87M | -142.53M |
| Financing Cash Flow | 352.00M | 353.37M | 264.13M | 172.25M | 118.46M | 304.42M |
Syndax Pharmaceuticals Technical Analysis
Positive
15.03
Price Trends
13.80
Positive
11.92
Positive
12.77
Positive
Market Momentum
0.17
Positive
50.15
Neutral
25.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNDX, the sentiment is Positive. The current price of 15.03 is below the 20-day moving average (MA) of 15.68, above the 50-day MA of 13.80, and above the 200-day MA of 12.77, indicating a neutral trend. The MACD of 0.17 indicates Positive momentum. The RSI at 50.15 is Neutral, neither overbought nor oversold. The STOCH value of 25.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SNDX.
Syndax Pharmaceuticals Risk Analysis
Syndax Pharmaceuticals disclosed 54 risk factors in its most recent earnings report. Syndax Pharmaceuticals reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Syndax Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | 1.59B | -4.47 | -66.79% | ― | 5.90% | -0.36% | |
51 Neutral | 1.13B | -5.56 | -18.04% | ― | -6.71% | -71.40% | |
49 Neutral | 730.70M | -1.29 | -58.07% | ― | -75.91% | -12.11% | |
48 Neutral | $1.29B | ― | -113.22% | ― | 2133.71% | -15.38% | |
46 Neutral | 767.13M | -1.65 | -55.82% | ― | 636.99% | 27.10% | |
31 Underperform | 1.48B | -7.99 | ― | ― | ― | -39.64% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
SNDX
Syndax Pharmaceuticals
15.03
-3.86
-20.43%
GERN
Geron
1.27
-3.30
-72.21%
QURE
uniQure
52.65
47.57
936.42%
KALV
KalVista Pharmaceuticals
12.10
-0.24
-1.94%
ANAB
AnaptysBio
22.04
-9.83
-30.84%
NUVB
Nuvation Bio
3.01
0.62
25.94%
Syndax Pharmaceuticals Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Syndax Pharmaceuticals Restructures Leadership Team
Neutral
Dec 20, 2024
Syndax Pharmaceuticals has announced the elimination of the Chief Medical Officer position, resulting in Catherine Madigan, M.D. departing from the company. This organizational change may impact Syndax’s operational dynamics, signaling potential shifts in their strategic focus or cost management efforts.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.