Loading...
•
Sep 30, 2024
Syndax Q3 2024 Earnings Report
Transitioned to a commercial-stage company with Niktimvo approval and secured royalty financing to fund operations through profitability.
Key Takeaways
Syndax reported its Q3 2024 financial results, highlighting the transition to a commercial-stage company with the approval of Niktimvo and a royalty financing agreement expected to fund the company through profitability.
Niktimvo approved by U.S. FDA for chronic GVHD treatment.
Revumenib NDA for R/R KMT2Ar acute leukemia under RTOR review with PDUFA date of December 26, 2024.
Topline data from AUGMENT-101 for mNPM1 AML expected in 4Q24.
$350 million royalty funding agreement for Niktimvo secured.
Forward Guidance
Syndax expects research and development expenses to be $245 to $250 million and total operating expenses to be $365 to $370 million for the full year of 2024. The company expects to reach profitability with current resources.
Positive Outlook
- Cash, cash equivalents and marketable securities, together with the $350 million from the sale of a portion of the Niktimvo royalty and anticipated product revenue and interest income, enables the company to reach profitability.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...