Syndax Pharmaceuticals Inc

Listed Company

SNDXCIK 0001395937NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$172.35M

Net Income

$-285.42M

Total Assets

$529.71M

Equity

$64.63M

Shares Out

88.61M

Op. Cash Flow

$-322.98M

Business

Syndax Pharmaceuticals Inc is a commercial-stage biopharmaceutical company developing and commercializing therapies for cancer and fibrotic diseases. It markets two FDA-approved medicines—Revuforj, an oral menin inhibitor for certain acute leukemias, and Niktimvo, a CSF-1R blocking antibody for chronic graft-versus-host disease—and advances related clinical programs. The company operates a single business segment focused on drug development and commercialization, including licensing, collaborations and third-party manufacturing. It commercializes mainly in the United States, co-commercializing with Incyte and using partners for markets outside the U.S.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Revenue	172	24	0	0	140
Cost of product sales	7	826,000	0	—	—
Research and development expenses	259	242	163	118	88
Selling, general and administrative	180	121	67	33	25
Total operating expenses	445	363	230	152	113
Loss from operations	−273	−340	−230	−152	26
Royalty interest expense	−34	−5	0	—	—
Other interest (expense) income	−6,000	1,000	−208,000	−3	—
Interest income	23	26	21	6	403,000
Other expense, net	−1	−247,000	−361,000	−316,000	202,000
Total other income	−12	21	21	2	−1
Net income	−285	−319	−209	−149	25
Net loss attributable to common stockholders	−285	−319	−209	−149	25
Basic loss per share attributable to common stockholders	−3.29	−3.72	−2.98	−2.46	0.48
Diluted loss per share attributable to common stockholders	−3.29	−3.72	−2.98	−2.46	0.46
Basic loss per share attributable to common stockholders (shares)	87	86	70	61	52
Diluted loss per share attributable to common stockholders (shares)	87	86	70	61	54

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-10-31	FY 2024 2024-04-30	FY 2023 2023-12-31
Cash and cash equivalents	135	154	—	—	295
Short-term investments	259	419	—	—	275
Accounts receivable, net	38	8	—	—	0
Inventory, net	33	366,000	—	—	0
Short-term deposits	20	10	—	—	7
Other receivables, net	6	4	—	4	0
Collaboration receivable, net	24	0	—	—	—
Prepaid expenses and other current assets	13	9	—	—	3
Total current assets	528	603	—	—	581
Long-Term Investments	0	120	—	—	30
Property and equipment, net	181,000	0	—	—	8,000
Right-of-use asset	1	2	2	—	1
Restricted cash	102,000	217,000	—	—	217,000
Total assets	530	725	—	—	613
Accounts payable	17	12	—	—	10
Collaboration payable, net	0	19	—	—	7
Accrued expenses and other current liabilities	103	60	—	—	40
Current portion of royalty interest financing	0	12	—	—	0
Current portion of right-of-use liability	470,000	471,000	—	—	1
Current Portion Of Capital Lease	2,000	9,000	—	—	12,000
Total current liabilities	120	104	—	—	58
Royalty interest financing, less current portion	344	332	—	—	—
Right-of-use liability, less current portion	1	2	—	—	10,000
Total long-term liabilities	345	333	—	—	588,000
Total liabilities	465	437	—	—	59
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 shares outstanding at December 31, 2025 and December 31, 2024	0	0	—	—	0
Common stock, $0.0001 par value, 200,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; 87,405,979 and 85,694,443 shares outstanding at December 31, 2025 and December 31, 2024, respectively	9,000	9,000	—	—	8,000
Additional paid-in capital	1,571	1,509	—	—	1,456
Accumulated other comprehensive income	452,000	163,000	—	—	218,000
Accumulated deficit	−1,507	−1,221	—	—	−902
Total stockholders' equity	65	288	—	—	554
Total liabilities and stockholders' equity	530	725	—	—	613

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−285	−319	−209	−149	25
Depreciation	6,000	8,000	12,000	33,000	43,000
Accretion of investments	−11	−13	−15	−3	644,000
Non-cash operating lease expense	946,000	989,000	739,000	421,000	413,000
Stock-based compensation	48	43	31	16	13
Amortization of debt issuance costs	228,000	30,000	0	0	—
Provision for credit losses	4	0	0	—	—
Inventory reserves	163,000	0	0	—	—
Accounts receivable	−30	−8	0	0	—
Inventory	−32	−366,000	0	0	—
Prepaid expenses and other current assets	−15	−8	676,000	−3	−1
Collaboration (payable) receivable, net	−43	12	11	−3	0
Other receivable	−6	−4	0	0	—
Other assets	0	463,000	0	—	—
Accounts payable	5	2	6	−1	2
Accrued expenses and other current liabilities	42	19	15	9	3
Net cash used in operating activities	−323	−275	−161	−134	29
Purchases of property and equipment	−187,000	0	0	0	−129,000
Purchases of short and long-term investments	−196	−557	−355	−495	−295
Proceeds from maturities of short-term investments	486	337	472	309	254
Net cash provided by (used in) investing activities	290	−220	118	−186	−41
Proceeds from Purchase and Sale agreement, net	0	344	0	0	—
Proceeds from ESPP	2	2	910,000	401,000	367,000
Proceeds from stock option exercises	12	8	5	12	6
Net cash provided by financing activities	14	353	264	172	118
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	−19	−141	221	−148	107
Issuance costs in accounts payable and accrued expenses	0	0	250,000	131,000	—
Lease assets recognized upon lease remeasurement	0	2	0	0	—

Filings

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