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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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