10-Q · August 4, 2026
Syndax delivered $72.8 million of second-quarter revenue, up 92% year over year but below the $79.9 million consensus estimate supplied with the earnings row. Commercial momentum remained solid across Revuforj and…
Earnings analysis · 10-Q
SNDX earnings analysis
Filed November 2, 2026 · Our reading of the company's report
The latest report
Syndax reported $83.298 million of revenue, approximately 2.0% above consensus and materially higher than both the prior quarter's $72.9 million and the year-ago quarter's $46 million. However, diluted EPS of negative…
Read full summary
Syndax reported $83.298 million of revenue, approximately 2.0% above consensus and materially higher than both the prior quarter's $72.9 million and the year-ago quarter's $46 million. However, diluted EPS of negative $0.55 missed the negative $0.49 estimate, keeping the earnings signal mixed. Liquidity was $551.1 million at September 30, 2026, while 2026 expense guidance remained unchanged at approximately $400 million excluding $50 million of non-cash stock compensation.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.55
What stood out
-
Revenue growth exceeded expectations
Revenue was $83.298 million, approximately 2.0% above the $81.6626 million consensus estimate and up from $72.9 million in the prior quarter and $46 million in the year-ago quarter.
-
Commercial products continued to grow
Revuforj and Niktimvo both delivered quantitative growth during the quarter, with Niktimvo collaboration revenue expanding; the filing extract does not provide product-level revenue amounts.
-
Substantial liquidity position
Cash, cash equivalents and short- and long-term investments totaled $551.1 million at September 30, 2026, including $135.9 million of cash and money market funds and $415.1 million of investments.
-
Expense outlook remained unchanged
Management maintained 2026 R&D plus SG&A expense guidance at approximately $400 million, excluding $50 million of estimated non-cash stock compensation expense.
-
No reported control deficiencies
Management concluded that disclosure controls and procedures were effective as of September 30, 2026, and reported no material changes in internal control over financial reporting during the quarter.
What to watch
-
Quarterly loss exceeded expectations
Diluted EPS was negative $0.55 versus the negative $0.49 consensus estimate, a $0.06 per-share miss, despite the $83.298 million revenue result.
-
Interest-rate exposure
The company remains exposed to interest-rate changes on its $551.1 million cash and investment portfolio. Management stated that an immediate 100-basis-point rate change would not materially affect fair value, but interest-rate sensitivity remains the primary market risk.
-
No new quantified risk updates
The filing states that, other than risk factors listed in the report, there were no material changes from the 2025 Form 10-K and Q2 2026 Form 10-Q. The absence of newly quantified risk-factor changes limits visibility into whether commercialization, spending or financing risks have changed.
Management's outlook
Management maintained 2026 R&D plus SG&A expense guidance of approximately $400 million, excluding approximately $50 million of estimated non-cash stock compensation expense. Management expects cash, revenue and interest income to enable profitability; no quantitative revenue or EPS guidance was provided.
Earlier filings 4
10-Q · April 30, 2026
Syndax Pharmaceuticals reported a strong Q1 2026 with total revenues of $64.9 million, marking substantial growth of 224% compared to the previous year. The company also improved its EPS loss to $0.48, surpassing…
10-K · February 26, 2026
Syndax is transitioning to a commercial-stage oncology company with two FDA-approved products (Revuforj and Niktimvo) and a rapid revenue ramp in 2025 driven by product launches and co-commercialization. Q4 2025 revenue…
10-Q · August 4, 2025
Syndax reported a strong commercial inflection in Q2 2025 with total revenue of $37.958 million (product revenue $28.600M; collaboration revenue $9.358M), materially above prior-year Q2 revenue of $3.5M and consensus.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.