Syndax Q1 2020 Earnings Report
Key Takeaways
Syndax Pharmaceuticals reported its Q1 2020 financial results, highlighting key data readouts expected across its portfolio, including the anticipation of the final overall survival readout from the E2112 trial and initial Phase 1 data from the AUGMENT-101 trial of SNDX-5613.
Final OS analysis for Phase 3 E2112 trial in HR+, HER2- metastatic breast cancer expected this quarter; potential NDA filing later this year.
Preliminary Phase 1 results from AUGMENT-101 trial of menin inhibitor SNDX-5613 represent first clinical evidence that inhibition of the menin-MLL1 interaction can induce response in patients with MLL-r acute leukemias.
Recently completed a follow-on offering with net proceeds of $93.7M.
Company anticipates the E2112 trial will reach 410 death events this quarter, which will trigger the final overall survival (OS) analysis.
Syndax
Syndax
Forward Guidance
The Company provided operating expense guidance for the second quarter of 2020, expecting R&D expenses to be $12 to $14 million and total operating expenses to be $18 to $20 million. They expect to end the second quarter with approximately $175 million of cash.
Positive Outlook
- Research and development (R&D) expenses will increase, primarily due to increased development activities for SNDX-5613.
- Second quarter G&A expenses are expected to be similar to the first quarter G&A expenses.
- For the second quarter of 2020, R&D expenses are expected to be $12 to $14 million.
- Total operating expenses are expected to be $18 to $20 million.
- Company expects to end the second quarter of 2020 with approximately $175 million of cash.