Syndax Narrows Loss as Drug Sales Regain Momentum
The cancer-drug developer cut its quarterly net loss to $49.4 million.
Syndax Pharmaceuticals (SNDX) narrowed its second-quarter loss as rising Revuforj sales and a rebound in Niktimvo revenue lifted its commercial results.
Total revenue rose 12% sequentially to $72.8 million after declining in the first quarter, though year-over-year growth slowed to 92% from 224% in the prior period. Revenue totaled $64.9 million in the first quarter and $68.7 million in the fourth quarter.
The company lost $0.55 a share, compared with $0.83 a share a year earlier. Its operating loss narrowed 42% to $40.0 million as revenue nearly doubled, outweighing a 5% increase in total operating expenses.
Revuforj net revenue increased 12% from the first quarter and 91% from a year earlier to $54.7 million. Prescriptions rose 15% sequentially to about 1,500, a slight acceleration from the first quarter, and current-quarter growth was partly due to longer treatment duration among post-transplant patients.
Niktimvo net revenue rebounded 9% sequentially to $60.3 million after slipping in the first quarter. Syndax's collaboration revenue from the drug rose 13% to $18.1 million, bringing combined Revuforj and Niktimvo net revenue to $115.0 million.
Research-and-development expense rose 9% to $68.0 million, primarily because of frontline acute myeloid leukemia trials combining revumenib with standard treatments. Selling, general and administrative expense declined 5% to $41.5 million as launch costs incurred a year earlier did not recur.
Syndax maintained its 2026 guidance for combined research-and-development and selling, general and administrative expense of about $400 million, excluding an estimated $50 million of noncash stock-compensation expense. The company now expects data for relapsed or refractory NUP98-rearranged leukemia to be published in the fourth quarter, later than the second-quarter timing given previously.
Syndax also added two pipeline candidates in July, including an EGFR inhibitor with an investigational-new-drug application planned by year-end. Cash and investments stood at $575.1 million on June 30 after the company placed $250 million of convertible notes in June.