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Syndax Pharmaceuticals Inc (SNDX)
NASDAQ:SNDX
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Syndax Pharmaceuticals
(NASDAQ:SNDX)
48Neutral
Positive Factors
Market Position
Management’s encouraging feedback and initial sales success suggest potential for Syndax’s use to expand into the larger NPM1m population.
Prescription and Reimbursement
The vast majority of prescriptions are reimbursed with 72% of managed care lives on formulary coverage at the end of March.
Sales Performance
Revuforj outperformed in its first full quarter with $20M in sales, overshadowing concerns about GAAP EPS.
Negative Factors
Competitive Market
Despite uncertainties in the competitive market, there is a belief that market share will be more evenly split, suggesting confidence in Syndax’s position.
Expense Guidance
R&D and SG&A expense guidance for 2025 is below pre-earnings consensus, indicating potential cost efficiency.
Long-Term Outlook
Niktimvo’s longer-term outlook remains uncertain as use is expected to be reserved in transplant centers.
Syndax Pharmaceuticals (SNDX) vs. S&P 500 (SPY)
Market Cap
$778.73M
Dividend YieldN/A
Average Volume (3M)2.47M
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue GrowthN/A
EPS Growth-25.83%
CountryUS
Employees270
SectorHealthcare
Sector Strength38
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.98
Shares Outstanding86,047,450
10 Day Avg. Volume3,587,811
30 Day Avg. Volume2,470,242
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)3.97
Price to Sales (P/S)0.00
P/FCF Ratio-3.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$33.56Price Target Upside270.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
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. Revenue has sharply declined, and there are persistent net losses and negative cash flows, which highlight the company's profitability issues. The balance sheet remains relatively strong with low leverage, but the decline in equity and continuous losses could pose risks if not addressed. Improvements in revenue generation and operational efficiency are necessary to stabilize the company's financial position.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 | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 43.72M | 23.68M | 0.00 | 0.00 | 139.71M | 1.52M | Gross Profit |
| -1.50M | 22.85M | -12.00K | -454.00K | 139.25M | 1.52M | EBIT |
| -343.92M | -339.67M | -229.95M | -151.76M | 26.22M | -71.42M | EBITDA |
| -325.24M | -313.82M | -229.94M | -151.76M | 27.28M | -70.29M | Net Income Common Stockholders |
| -331.20M | -318.76M | -209.36M | -143.75M | 24.93M | -73.07M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 434.58M | 572.88M | 577.58M | 481.27M | 439.94M | 293.06M | Total Assets |
| 543.03M | 724.82M | 612.88M | 497.24M | 449.66M | 300.61M | Total Debt |
| 1.39M | 345.74M | 1.64M | 1.16M | 20.97M | 20.54M | Net Debt |
| -113.23M | 191.66M | -293.76M | -73.19M | -201.00M | -94.71M | Total Liabilities |
| 51.14M | 436.69M | 58.68M | 29.79M | 41.29M | 48.42M | Stockholders Equity |
| 491.89M | 288.12M | 554.20M | 467.45M | 408.37M | 252.19M |
| Cash Flow | Free Cash Flow | ||||
| -286.52M | -274.90M | -160.60M | -133.90M | 29.00M | -71.26M | Operating Cash Flow |
| -286.52M | -274.90M | -160.60M | -133.68M | 29.13M | -71.26M | Investing Cash Flow |
| -26.23M | -219.78M | 117.61M | -186.19M | -40.87M | -142.53M | Financing Cash Flow |
| 352.13M | 353.37M | 264.13M | 172.25M | 118.46M | 304.42M |
Syndax Pharmaceuticals Technical Analysis
Negative
9.05
Price Trends
12.21
Negative
13.23
Negative
15.85
Negative
Market Momentum
-0.86
Positive
32.56
Neutral
5.97
Positive
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 9.05 is below the 20-day moving average (MA) of 11.88, below the 50-day MA of 12.21, and below the 200-day MA of 15.85, indicating a bearish trend. The MACD of -0.86 indicates Positive momentum. The RSI at 32.56 is Neutral, neither overbought nor oversold. The STOCH value of 5.97 is Positive, 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 (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $1.04B | ― | -10.99% | ― | 10.24% | 2.63% | |
52 Neutral | $5.15B | 3.05 | -44.13% | 2.84% | 16.42% | -0.48% | |
48 Neutral | $778.73M | ― | -93.70% | ― | ― | -25.83% | |
44 Neutral | $635.89M | ― | -44.59% | ― | -73.79% | -5.24% | |
39 Underperform | $569.36M | ― | -51.85% | ― | 11070.12% | 32.07% | |
39 Underperform | $1.06B | ― | -49.41% | ― | 4.86% | 10.13% | |
31 Underperform | $1.37B | ― | -22.88% | ― | ― | 7.57% |
* Healthcare Sector Average
Performance Comparison
SNDX
Syndax Pharmaceuticals
9.05
-11.20
-55.31%
IOVA
Iovance Biotherapeutics
1.66
-8.69
-83.96%
VRDN
Viridian Therapeutics
12.94
-0.59
-4.36%
EVH
Evolent Health
8.83
-14.07
-61.44%
VIR
Vir Biotechnology
4.60
-5.09
-52.53%
GPCR
Structure Therapeutics, Inc. Sponsored ADR
25.17
-10.61
-29.65%
Syndax Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 05, 2025
(Q1-2025)
| % Change Since: -33.31%|
Next Earnings Date:Aug 11, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with strong initial sales of newly launched products and promising developments in the pipeline. While there are some uncertainties regarding market size and reimbursement, the overall outlook is optimistic due to financial stability and strategic advancements.Q1-2025 Updates
Positive Updates
Strong Product Launches
Syndax reported $20 million in Revuforj net revenue and $13.6 million in Niktimvo net revenue in the first quarter of 2025, indicating successful product launches and strong market reception.
Financial Stability
The company is well-funded with $602.1 million in cash and equivalents, and anticipates reaching profitability with current revenue streams.
Pipeline Progress
The initiation of the EVOLV-2 trial, a pivotal frontline trial of revumenib, marks significant advancement in the menin inhibitor program.
NCCN Guidelines Inclusion
Revuforj has been rapidly included in NCCN guidelines, with expectations for further inclusion in clinical guidelines for mutant mNPM1 AML treatment.
FDA sNDA Submission
A Supplemental New Drug Application for Revuforj has been submitted, seeking priority review for relapse or refractory mutant mNPM1 AML.
Negative Updates
Uncertain Market Size
There is uncertainty regarding the total addressable market size for Revuforj, as initial estimates may not fully capture the potential patient population.
Early Stage Data
Some aspects of the product uptake and patient response data are still maturing, making it difficult to fully assess the long-term market penetration and treatment duration.
Potential Reimbursement Challenges
While post-transplant maintenance with Revuforj is expected to be reimbursed, this area remains a potential challenge as it is dependent on payer acceptance.
Company Guidance
During Syndax Pharmaceuticals' first quarter 2025 earnings call, the company provided guidance on its recent commercial and clinical progress. Syndax reported $20 million in net revenue from the first full quarter of the Revuforj launch and $13.6 million from its joint launch of Niktimvo with Incyte, totaling $34 million in net sales. The company highlighted its robust pipeline, including ongoing pivotal trials like EVOLV-2, which is enrolling patients for the first frontline trial of a menin inhibitor. Syndax is well-funded with $602.1 million in cash and equivalents and expects to reach profitability with anticipated revenue contributions from Revuforj and Niktimvo. Additionally, Syndax is actively pursuing the inclusion of Revuforj in clinical guidelines and anticipates an expedited review process for its supplemental new drug application (sNDA) for Revuforj, seeking FDA approval for additional indications.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.