Syndax Pharmaceuticals Q3 revenue rises 82% on cancer drug sales

Overview

• US biopharma firm's Q3 revenue rose 82% yr/yr, driven by Revuforj and Niktimvo sales

• Q3 net loss narrowed yr/yr but missed analyst expectations

• Revenue growth attributed to increased new patient uptake and post-transplant therapy resumption for Revuforj

Outlook

• Company maintains 2026 R&D plus SG&A expense guidance at about $400 mln

• Company expects cash and revenue sources will enable it to reach profitability

• Syndax to present new revumenib clinical data in 4Q26

Result Drivers

• REVUFORJ UPTAKE - Co said revenue growth was driven by increased new patient uptake and more patients resuming Revuforj therapy after stem cell transplant

• NIKTIMVO SALES - Higher Niktimvo sales contributed to increased collaboration revenue

• R&D EXPENSES - Increased R&D expenses driven by frontline trials of revumenib in AML

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Syndax Pharmaceuticals, Inc. is $37.00, about 171.1% above its October 30 closing price of $13.65

Reuters Recommended Reads

• Nov 2 - IDEXX raises forecast, betting diagnostics can offset weak vet visits

• Nov 2 - FDA to review uniQure's Huntington's gene therapy, decision due on May 2027

• Nov 2 - Axsome Therapeutics Q3 revenue rises on Auvelity and Sunosi

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)