Syndax Narrows Loss as Total Revenue Reaches $83.3 Million

The Tip Desk · November 3, 2026 · 3 min read

Revuforj net revenue was $60.7 million in the third quarter, up 90% from a year earlier, as new patients rose about 20% from the second quarter.

Syndax Pharmaceuticals (SNDX), a commercial-stage biopharmaceutical company, reported total revenue of $83.3 million for the third quarter ended September 30, 2026, an 82% year-over-year increase.

The net loss attributable to common stockholders narrowed to $49.4 million, or $0.55 a share, from $60.7 million, or $0.70 a share, a year earlier.

Revuforj (revumenib) net revenue was $60.7 million, up 90% from the third quarter of 2025 and 11% from $54.7 million in the second quarter of 2026. New patients increased approximately 20% and total prescriptions approximately 13% versus the second quarter, when prescriptions were about 1,500. Third-quarter prescriptions were about 1,700. The company said the double-digit growth in net revenue, new patients, and total prescriptions reflected uptake in both Revuforj indications and a growing number of relapsed or refractory KMT2A-rearranged and NPM1-mutated patients proceeding to hematopoietic stem cell transplant and then resuming therapy.

Claims data indicated that approximately 50% of R/R KMT2Ar patients proceed to transplant after receiving Revuforj, of which about 60% have resumed therapy post-transplant. About 40% of R/R NPM1m patients proceed to transplant, of which about 50% have resumed therapy. Chief Executive Officer Michael A. Metzger said Revuforj net revenue grew to $61 million, driven by a 20% increase in new patients and an increasing number of patients on therapy in the post-transplant setting.

Niktimvo (axatilimab-csfr) net revenue was $67.4 million, a 47% year-over-year increase and a 12% increase over $60.3 million in the second quarter. Syndax records 50% of Niktimvo net commercial profit; its share of the product contribution, reported as collaboration revenue, was $22.6 million, up 63% year-over-year and 25% from $18.1 million in the second quarter.

Research and development expenses increased to $67.5 million from $56.3 million in the comparable prior-year period, which the company attributed primarily to frontline trials evaluating revumenib in combination with standard-of-care agents in acute myeloid leukemia. Selling, general and administrative expenses decreased to $43.7 million from $44.9 million, which the company attributed primarily to lower commercial expenses after 2025 launch costs for Revuforj and Niktimvo that were not incurred in the same period in 2026.

Cash, cash equivalents, and short- and long-term investments were $551.1 million as of September 30, 2026, versus $394.1 million at December 31, 2025. Common shares outstanding were 90.0 million.

The company continues to expect full-year 2026 research and development plus selling, general and administrative expenses of approximately $400 million, excluding $50 million in estimated non-cash stock compensation. Syndax said cash, cash equivalents and short- and long-term investments, combined with anticipated product revenue, collaboration revenue and interest income, will enable it to reach profitability.

In October 2026, the MAXPIRe Phase 2 trial of axatilimab in idiopathic pulmonary fibrosis did not meet its primary endpoint. The company said it does not plan further development of axatilimab in IPF and that the results do not affect ongoing trials in other indications. On November 2, 2026, Keith Goldan retired as chief financial officer and Aaron A. Ondrey was appointed chief financial officer, effective November 9, 2026.

The company said it expects a major presence at upcoming medical meetings in the fourth quarter of 2026, including frontline revumenib combination data from BEAT AML, SAVE, and a Phase 1 intensive-chemotherapy trial, post-transplant maintenance data, real-world evidence, and INTERCEPT data. It also expects to publish safety and efficacy data from R/R NUP98r acute leukemia patients treated with revumenib in the fourth quarter. The RAVEN Phase 2 trial is expected to initiate in the fourth quarter of 2026.