Syndax Pharmaceuticals Inc Segments Disclosure
19. Segment Reporting
The Company manages its business activities on a consolidated basis and operate as a operating and reportable segment: Syndax Pharmaceuticals. The Company derives revenue in the United States through milestone revenue and product sales on the recently approved products, Revuforj and Niktimvo. The accounting policies of the segment are the same as those described in Note 3 – Summary of Significant Accounting Policies.
To assess performance, the Company's Chief Operating Decision Maker, or CODM, the Chief Executive Officer, or CEO, Michael Metzger, uses consolidated net loss as the segment's measure of segment profit or loss. The CODM uses net loss in the budget and forecasting process and considers budget-to actual variances on a quarterly bases when making decisions about the allocation of operating and capital resources.
The following table provides the operating financial results of our biopharmaceutical cancer therapeutics segment:
|
|
Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
Total Revenue |
|
$ |
172,352 |
|
|
$ |
23,680 |
|
|
$ |
— |
|
Less: Significant and other segment expenses |
|
|
|
|
|
|
|
|
|
|||
Cost of product sales |
|
|
6,970 |
|
|
|
826 |
|
|
|
— |
|
Research and development expenses |
|
|
|
|
|
|
|
|
|
|||
Revumenib-related costs |
|
|
112,422 |
|
|
|
107,909 |
|
|
|
64,122 |
|
Axatilimab-related costs |
|
|
48,289 |
|
|
|
49,638 |
|
|
|
32,114 |
|
Other R&D programs |
|
|
4,154 |
|
|
|
2,564 |
|
|
|
5,441 |
|
Personnel cost and other expenses |
|
|
77,887 |
|
|
|
61,602 |
|
|
|
47,208 |
|
General and administrative expenses |
|
|
|
|
|
|
|
|
|
|||
Commercial related expenses |
|
|
53,630 |
|
|
|
33,541 |
|
|
|
13,115 |
|
Personnel cost and other expenses |
|
|
71,271 |
|
|
|
46,893 |
|
|
|
22,898 |
|
Other SG&A expenses |
|
|
23,310 |
|
|
|
17,353 |
|
|
|
14,105 |
|
Stock-based compensation |
|
|
47,503 |
|
|
|
43,026 |
|
|
|
30,951 |
|
Royalty interest expense |
|
|
33,779 |
|
|
|
4,930 |
|
|
|
— |
|
Interest (income) expense, net |
|
|
(22,724 |
) |
|
|
(26,091 |
) |
|
|
(20,955 |
) |
Other expense, net |
|
|
1,283 |
|
|
|
247 |
|
|
|
361 |
|
Segment net loss |
|
$ |
(285,422 |
) |
|
$ |
(318,758 |
) |
|
$ |
(209,360 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.