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Dec 31, 2024
Syndax Q4 2024 Earnings Report
Syndax reported a net loss in Q4 2024 despite a strong launch for Revuforj and the introduction of Niktimvo.
Key Takeaways
Syndax Pharmaceuticals saw its first product revenue of $7.7M from Revuforj in Q4 2024, following its launch in November. However, the company reported a net loss of $94.2M, reflecting high R&D and SG&A expenses. The company maintains a strong cash position of $692.4M, which is expected to fund operations until profitability.
Revuforj generated $7.7M in revenue within its first five weeks of launch.
Net loss widened to $94.2M due to increased R&D and SG&A expenses.
Cash and investments totaled $692.4M, supporting long-term growth.
Niktimvo was launched in January, expanding the company's commercial portfolio.
Syndax
Syndax
Syndax Revenue by Segment
Forward Guidance
Syndax expects continued growth with Revuforj and Niktimvo but anticipates high R&D and SG&A expenses in 2025.
Positive Outlook
- Revuforj's revenue expected to grow with broader adoption.
- Niktimvo's launch expands Syndax's commercial footprint.
- Strong cash reserves expected to support operations until profitability.
- Additional clinical trials for Revuforj and Niktimvo underway.
- sNDA filing for revumenib in R/R mNPM1 AML planned for Q2 2025.
Challenges Ahead
- Continued high R&D expenses projected for 2025.
- SG&A costs expected to remain elevated due to commercialization efforts.
- No revenue guidance provided for 2025.
- Potential delay in FDA approval processes.
- Market adoption of new therapies remains uncertain.