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Dec 31, 2020
Syndax Q4 2020 Earnings Report
Syndax reported financial results for the fourth quarter ended December 31, 2020.
Key Takeaways
Syndax Pharmaceuticals reported a net loss of $20.4 million for the fourth quarter of 2020, with research and development expenses increasing to $15.5 million and general and administrative expenses decreasing to $4.7 million. The company's cash balance at the end of the year was $293.1 million, providing a cash runway into 2023.
Phase 1 AUGMENT-101 data expected in late 1Q21 or early 2Q21; Phase 2 expansion cohorts expected to commence in 2Q21.
Enrollment underway in pivotal Phase 2 AGAVE-201 trial of axatilimab in cGVHD.
End of year cash balance of $293.1 million provides cash runway into 2023.
The pivotal Phase 2 AGAVE-201 trial, which will evaluate the safety and efficacy of three doses and schedules of axatilimab in patients with cGVHD, began enrolling patients earlier this quarter.
Forward Guidance
For the first quarter of 2021, research and development expenses are expected to be $25 to $30 million, and total operating expenses are expected to be $30 to $35 million. For the full year of 2021, research and development expenses are expected to be $90 to $100 million, and total operating expenses are expected to be $110 to $120 million.
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