SNDX

MKT CAP:$2B

Syndax Pharmaceuticals, Inc.

Market Cap

$2B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$23.33+$2.03 (+9.53%)

Apr 21, 2026

Company Details

Syndax Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of M...

CEO

Michael A. Metzger

IPO Date

Mar 2, 2016

Website

www.syndax.com

Key Metrics TTM

Revenue

$172M

+627.8% YoY

Net Income

-$285M

EPS (Diluted)

-$3.30

Free Cash Flow

-$323M

Revenue / Share

$1.99

Gross Margin

96.0%

Operating Margin

-158.4%

Net Margin

-165.6%

FCF Margin

-187.5%

P/S

10.9x

P/E

—

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 26, 2026

$172MEPS -$3.30

Q4 2025

Feb 26, 2026

$68M+791.7%EPS -$0.78

Q3 2025

Nov 3, 2025

$46M+267.0%EPS -$0.70

Q2 2025

Aug 4, 2025

$38M+984.5%EPS -$0.83

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$37M
Q2 22	$0	$0	-$38M
Q3 22	$0	$0	-$35M
Q4 22	$0	$0	-$42M
Q1 23	$0	$0	-$46M
Q2 23	$0	$0	-$50M
Q3 23	$0	$0	-$56M
Q4 23	$0	$0	-$78M
Q1 24	$0	$0	-$80M
Q2 24	$4M	$4M	-$74M
Q3 24	$13M	$13M	-$90M
Q4 24	$8M	$8M	-$96M
Q1 25	$20M	$19M	-$84M
Q2 25	$38M	$37M	-$69M
Q3 25	$46M	$39M	-$57M
Q4 25	$68M	$70M	-$63M

Valuation

Quarter	P/S	P/E
Q1 22	7.3x	66.0x
Q2 22	8.1x	1376.0x
Q3 22	12.0x	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	525.5x	—
Q3 24	103.2x	—
Q4 24	45.4x	—
Q1 25	24.1x	—
Q2 25	10.3x	—
Q3 25	12.0x	—
Q4 25	10.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$42M	-$42M
Q2 22	-$40M	-$40M
Q3 22	-$29M	-$29M
Q4 22	-$23M	-$23M
Q1 23	-$39M	-$39M
Q2 23	-$35M	-$35M
Q3 23	-$45M	-$45M
Q4 23	-$41M	-$41M
Q1 24	-$84M	-$84M
Q2 24	-$72M	-$72M
Q3 24	-$62M	-$62M
Q4 24	-$57M	-$57M
Q1 25	-$95M	-$95M
Q2 25	-$88M	-$88M
Q3 25	-$71M	-$71M
Q4 25	-$69M	-$70M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$131.0K
Q4 25	$56.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-100.0%	+33.8%
Q2 22	-100.0%	+66.1%
Q3 22	-100.0%	+8.4%
Q4 22	-100.0%	+36.4%
Q1 23	—	+24.8%
Q2 23	—	+31.7%
Q3 23	—	+60.4%
Q4 23	—	+85.3%
Q1 24	—	+72.8%
Q2 24	—	+56.4%
Q3 24	—	+81.1%
Q4 24	—	+33.6%
Q1 25	—	+30.5%
Q2 25	+984.5%	+38.1%
Q3 25	+267.0%	+1.2%
Q4 25	+791.7%	+25.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3M	—
Q2 22	$4M	—
Q3 22	$4M	—
Q4 22	$4M	—
Q1 23	$6M	—
Q2 23	$8M	—
Q3 23	$8M	—
Q4 23	$8M	—
Q1 24	$9M	—
Q2 24	$10M	282.7%
Q3 24	$12M	95.5%
Q4 24	$12M	160.1%
Q1 25	$10M	51.8%
Q2 25	$14M	36.3%
Q3 25	$12M	26.3%
Q4 25	$11M	16.4%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$30M	$7M	—
Q2 22	$30M	$8M	—
Q3 22	$27M	$8M	—
Q4 22	$32M	$10M	—
Q1 23	$34M	$12M	—
Q2 23	$35M	$15M	—
Q3 23	$39M	$17M	—
Q4 23	$55M	—	$23M
Q1 24	$56M	$23M	—
Q2 24	$49M	$29M	—
Q3 24	$71M	$31M	—
Q4 24	$66M	$38M	—
Q1 25	$62M	$41M	—
Q2 25	$62M	$44M	—
Q3 25	$56M	—	$45M
Q4 25	$79M	$50M	—

Revenue Segments

Quarter	Collaboration revenue	Product
Q2 25	$9M	$29M
Q3 25	$14M	$32M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$189M	$222M	$411M
Q2 22	$120M	$256M	$377M
Q3 22	$71M	$279M	$351M
Q4 22	$74M	$410M	$484M
Q1 23	$58M	$375M	$432M
Q2 23	$97M	$309M	$406M
Q3 23	$95M	$269M	$364M
Q4 23	$295M	$282M	$578M
Q1 24	$115M	$320M	$435M
Q2 24	$105M	$320M	$425M
Q3 24	$133M	$257M	$390M
Q4 24	$154M	$429M	$583M
Q1 25	$154M	$362M	$516M
Q2 25	$109M	$360M	$469M
Q3 25	$117M	$337M	$454M
Q4 25	$135M	$259M	$394M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	59M	+10.9%	+14.5%
Q2 22	60M	+2.0%	+16.6%
Q3 22	61M	+0.9%	+16.8%
Q4 22	63M	+4.2%	+18.8%
Q1 23	69M	+9.9%	+17.7%
Q2 23	70M	+0.3%	+15.8%
Q3 23	70M	+0.3%	+15.1%
Q4 23	73M	+3.8%	+14.8%
Q1 24	85M	+17.5%	+22.7%
Q2 24	85M	+0.1%	+22.5%
Q3 24	85M	+0.2%	+22.3%
Q4 24	86M	+0.4%	+18.3%
Q1 25	86M	-0.2%	+0.5%
Q2 25	86M	+0.8%	+1.2%
Q3 25	87M	+0.3%	+1.4%
Q4 25	87M	0.0%	+1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	59
Q2 22	$0	59
Q3 22	$0	59
Q4 22	$0	107
Q1 23	$0	107
Q2 23	$0	107
Q3 23	$0	107
Q4 23	$0	184
Q1 24	$0	184
Q2 24	$19.0K	184
Q3 24	$67.9K	184
Q4 24	$28.4K	270
Q1 25	$74.2K	270
Q2 25	$140.6K	270
Q3 25	$169.9K	270
Q4 25	$229.8K	298

Revenue / Employee