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Syndax Pharmaceuticals Inc (SNDX)
NASDAQ:SNDX
Top Page
Syndax Pharmaceuticals
(NASDAQ:SNDX)
41Neutral
Positive Factors
Market Penetration
Account Tiers defined by patient opportunity show high penetration into Tier I and Tier II accounts, which together represent a significant patient opportunity.
Product Adoption
Surveyed physicians and our KOL panelist anticipate rapid and broad uptake of Revuforj for r/r acute leukemia.
Regulatory Approval
Revuforj received FDA approval for the treatment of adult and pediatric patients with relapsed or refractory acute leukemia with a KMT2A translocation.
Negative Factors
Cost Concerns
R&D and SG&A expense guidance for 2025 is below pre-earnings consensus, indicating potential cost efficiency.
Market Competition
There is potential for a strong Revumenib launch with minimal expected rebating and a comprehensive specialty distribution network.
Syndax Pharmaceuticals (SNDX) vs. S&P 500 (SPY)
Market Cap
$1.13B
Dividend YieldN/A
Average Volume (3M)2.02M
Price to Earnings (P/E)―
Beta (1Y)1.95
Revenue GrowthN/A
EPS Growth-25.83%
CountryUS
Employees270
SectorHealthcare
Sector Strength66
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.73
Shares Outstanding86,024,390
10 Day Avg. Volume1,406,404
30 Day Avg. Volume2,024,842
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)49.81
Price to Cash Flow (P/CF)-5.10
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$36.27Price Target Upside176.24% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
Syndax Pharmaceuticals Business Overview & Revenue Model
Company DescriptionSyndax Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of Menin with the mixed lineage leukemia 1 protein for the treatment of MLL-rearranged (MLLr) and nucleophosmin 1 mutant acute myeloid leukemia (NPM1c AML); and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD). The company is also developing Entinostat. It also has collaborative research and development agreement with National Cancer Institute; a clinical trial agreement with Eastern Cooperative Oncology Group; and a license agreement with Kyowa Hakko Kirin Co., Ltd. Syndax Pharmaceuticals, Inc. was incorporated in 2005 and is headquartered in Waltham, Massachusetts.Massachusetts.
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 Financial Statement Overview
Summary
Syndax Pharmaceuticals is facing significant financial challenges with declining revenues and persistent net losses. The negative cash flows further highlight operational inefficiencies. However, the balance sheet remains relatively strong with low leverage, which is a positive aspect in an otherwise challenging financial scenario.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 | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 23.68M | 0.00 | 0.00 | 139.71M | 1.52M | Gross Profit |
| 22.85M | -12.00K | -454.00K | 139.25M | 1.52M | EBIT |
| -339.67M | -229.95M | -151.76M | 26.22M | -71.42M | EBITDA |
| -313.82M | -229.94M | -151.76M | 27.28M | -70.29M | Net Income Common Stockholders |
| -318.76M | -209.36M | -143.75M | 24.93M | -73.07M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 572.88M | 577.58M | 481.27M | 439.94M | 293.06M | Total Assets |
| 724.82M | 612.88M | 497.24M | 449.66M | 300.61M | Total Debt |
| 12.12M | 1.64M | 1.16M | 20.97M | 20.54M | Net Debt |
| -141.97M | -293.76M | -73.19M | -201.00M | -94.71M | Total Liabilities |
| 436.69M | 58.68M | 29.79M | 41.29M | 48.42M | Stockholders Equity |
| 288.12M | 554.20M | 467.45M | 408.37M | 252.19M |
| Cash Flow | Free Cash Flow | |||
| -274.90M | -160.60M | -133.90M | 29.00M | -71.26M | Operating Cash Flow |
| -274.90M | -160.60M | -133.68M | 29.13M | -71.26M | Investing Cash Flow |
| -219.78M | 117.61M | -186.19M | -40.87M | -142.53M | Financing Cash Flow |
| 353.37M | 264.13M | 172.25M | 118.46M | 304.42M |
Syndax Pharmaceuticals Technical Analysis
Negative
13.13
Price Trends
14.23
Negative
15.01
Negative
17.61
Negative
Market Momentum
-0.34
Negative
42.54
Neutral
54.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNDX, the sentiment is Negative. The current price of 13.13 is below the 20-day moving average (MA) of 13.73, below the 50-day MA of 14.23, and below the 200-day MA of 17.61, indicating a bearish trend. The MACD of -0.34 indicates Negative momentum. The RSI at 42.54 is Neutral, neither overbought nor oversold. The STOCH value of 54.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SNDX.
Syndax Pharmaceuticals Risk Analysis
Syndax Pharmaceuticals disclosed 53 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 (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
49 Neutral | $6.88B | 0.82 | -52.97% | 2.48% | 20.92% | 1.17% | |
46 Neutral | $58.88M | ― | -273.36% | ― | 194.23% | 45.50% | |
42 Neutral | $36.53M | ― | -270.20% | ― | 144.50% | -141.91% | |
42 Neutral | $103.45M | ― | -54.21% | ― | -78.55% | -0.92% | |
41 Neutral | $1.13B | ― | -75.69% | ― | ― | -25.83% | |
40 Underperform | $47.13M | ― | 41.08% | ― | -0.55% | 49.85% |
* Healthcare Sector Average
Performance Comparison
SNDX
Syndax Pharmaceuticals
13.13
-10.67
-44.83%
BLUE
Bluebird Bio
3.75
-21.85
-85.35%
FATE
Fate Therapeutics
0.88
-6.46
-88.01%
KPTI
Karyopharm Therapeutics
4.35
-18.30
-80.79%
ADAP
Adaptimmune Therapeutics
0.23
-1.35
-85.44%
Syndax Pharmaceuticals Earnings Call Summary
Earnings Call Date: Mar 3, 2025 | % Change Since: -16.05% | Next Earnings Date: May 12, 2025
Earnings Call Sentiment Positive
Syndax has achieved significant milestones with the approval and commercial launch of two first-in-class medicines, generating initial revenues and securing a strong financial position. However, challenges remain in achieving full market penetration and managing competition. The overall sentiment reflects a positive outlook with some areas needing attention.Highlights
FDA Approval of Two First-in-Class Medicines
In 2024, Syndax received FDA approval for Revuforj, a menin inhibitor for relapsed/refractory acute leukemia, and Niktimvo for chronic Graft versus Host Disease, marking the company's entry into product revenue with $7.7 million from Revuforj in the initial five weeks of launch.
Strong Financial Position and Partnerships
Syndax strengthened its balance sheet with $350 million from a deal with Royalty Pharma, positioning the company to fund operations through profitability. The company also launched Niktimvo in partnership with Incyte.
Positive Clinical Data for Revuforj
Clinical trials showed Revuforj's effectiveness in treating acute leukemias, with potential for label expansion to include mutant NPM1 AML, representing a $2 billion market opportunity.
Encouraging Commercial Launch of Revuforj
Revuforj generated $7.7 million in net revenue in a partial quarter, with strong early patient demand and positive feedback on product profile and accessibility.
Niktimvo Potential Market Opportunity
Niktimvo targets a $1.5 billion to $2 billion market for third-line or later chronic GVHD treatment in the US, with potential for further expansion into earlier lines of treatment and other diseases.
Lowlights
Limited Inventory Visibility
Syndax has limited visibility at the patient level for inventory tracking, which could impact accurate forecasting and reporting of patient counts.
Challenges in Full Market Penetration
Only 33% of Tier 1 and Tier 2 accounts have ordered Revuforj, indicating room for growth but also challenges in achieving full market penetration.
Patent and Competition Concerns
The company faces potential competition in the menin inhibitor space, with the necessity to maintain first-mover advantage and patient loyalty.
Company Guidance
During the Syndax Fourth Quarter and Full Year 2024 Earnings Conference Call, the company provided comprehensive guidance for the upcoming year. They reported a remarkable start with $7.7 million in net revenue from Revuforj's initial five-week launch, reflecting strong patient demand and efficient market access. The company aims to file a supplemental new drug application for Revuforj in relapsed or refractory mutant NPM1 AML by the second quarter, targeting a $2 billion market opportunity. Additionally, Syndax launched Niktimvo in partnership with Incyte for chronic GVHD, estimating a $1.5 to $2 billion addressable market. Financially, Syndax strengthened its position with a $350 million upfront payment from Royalty Pharma, maintaining $692.4 million in cash and investments. For 2025, the company projects R&D expenses of $260 to $280 million and combined R&D plus SG&A expenses of $415 to $435 million, with an expectation to reach profitability.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
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.