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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.
Syndax
Syndax
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.