Syndax Q2 2020 Earnings Report
Key Takeaways
Syndax Pharmaceuticals reported a net loss of $17.1 million, or $0.42 per share, for the second quarter of 2020. As of June 30, 2020, Syndax had cash, cash equivalents and short-term investments of $186.8 million.
FDA agreed to enhancements to the Phase 1 portion of AUGMENT-101.
Phase 2 dose and initiation of Phase 2 portion of AUGMENT-101 anticipated by year end; full Phase 1 data presentation expected in early 2021.
Results from Phase 1 trial of axatilimab in patients with cGVHD expected in 4Q20.
Company provided operating expense guidance for the third quarter and second half of 2020.
Syndax
Syndax
Forward Guidance
The Company provided operating expense guidance for the third quarter and second half of 2020. For the third quarter and second half of 2020, research and development expenses are expected to be $14 to $16 million and $30 to $35 million, respectively, and total operating expenses are expected to be $19 to $21 million and $40 to $45 million, respectively.