Syndax Pharmaceuticals Inc (SNDX) Form 10-Q — Aug 4, 2026

$SNDXForm 10-QFiled Aug 4, 2026, 4:04 PM ET0001193125-26-332750Original filing

Syndax Pharmaceuticals reported Q2 2026 total revenues of $72.8 million, up 92% year over year, driven by $54.7 million of Revuforj net product revenue (+91% YoY on ~1,500 total prescriptions, +121% YoY) and $18.1 million of collaboration revenue representing its 50% profit share on $60.3 million of Niktimvo net sales with Incyte. Net loss narrowed to $49.4 million, or $0.55 per share, from $71.8 million, or $0.83 per share, in the year-ago quarter, with first-half net loss of $92.0 million versus $156.7 million a year earlier as revenue growth outpaced flat operating expenses.

Key figures

Eps: -$0.55 Q2 2026 (-$0.83 Q2 2025); -$1.04 H1 2026 (-$1.82 H1 2025)
Revenue: $72.8M total revenues Q2 2026 ($137.7M for H1 2026)
Net Income: -$49.4M Q2 2026 (-$71.8M Q2 2025); -$92.0M H1 2026 (-$156.7M H1 2025)
Total Debt: $600M gross principal: $350M royalty interest financing liability ($344.0M net) plus $250M 2.25% convertible senior notes due 2031 ($244.1M net)
Revenue Yoy: +92% Q2 YoY; +138% H1 YoY
Total Assets: $703.7M
Cash Position: $336.5M cash and equivalents; $575.1M including short- and long-term investments
Shares Outstanding: 89297086
Accumulated deficit: $1.6B as of June 30, 2026
Atm capacity remaining: $157.9M under 2023 ATM Program (no shares sold in H1 2026)
Convertible note terms: 2.25% coupon, conversion price ~$24.76/share, matures June 15, 2031, effective rate 2.733%, max 13,631,400 shares on conversion
Niktimvo q2 net revenue: $60.3M (+67% YoY, +9% QoQ)
Revuforj q2 net revenue: $54.7M (+91% YoY, +12% QoQ)
Royalty financing terms: 13.8% royalty on US Niktimvo net sales; payments capped at $822.5M (2.35x funded amount); effective annual rate ~13.02%
Collaboration revenue q2: $18.1M (Syndax 50% profit share on Niktimvo)
Revuforj q2 prescriptions: ~1,500 (+121% YoY, +15% QoQ)
Royalty interest expense q2: $12.1M ($24.0M H1 2026)
Net cash used in operating activities h1: -$80.6M (vs -$183.0M H1 2025)

Price after filing

1 day: -1.2%7 days: +4.2%30 days: +6.7%

Close on the filing date to close N calendar days later (from $19.48). Historical, not a forecast.

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