Syndax Pharmaceuticals reported fourth‑quarter and full‑year 2025 results on February 26 2026, posting total revenue of $68.7 million for the quarter and $172.4 million for the year. Net revenue from its two commercial products—Revuforj and Niktimvo—accounted for $44.2 million and $19.4 million of the quarterly top line, while milestone, license and royalty income added $5.1 million. The company’s earnings per share fell short of consensus, reporting a loss of $0.78 versus estimates ranging from $-0.59 to $-0.64.
Revuforj’s net revenue rose 38% from the third quarter to $44.2 million, driven by strong uptake following its October 24, 2025 FDA approval for relapsed or refractory AML with NPM1 mutation. Over the full year, Revuforj generated $124.8 million in net revenue, up from $30.5 million in 2024. Niktimvo’s collaboration revenue increased 22% to $19.4 million in Q4, and $42.4 million for the year, reflecting expanding use in chronic graft‑versus‑host disease and other fibrotic indications. Compared with Q4 2024, total revenue jumped from $7.7 million to $68.7 million, and full‑year revenue grew from $23.7 million to $172.4 million, underscoring the rapid commercial traction of both products.
The company’s loss per share of $0.78 missed consensus estimates by $0.14 to $0.19, a 21–32% negative surprise. The miss was largely attributed to continued investment in clinical development and commercial expansion, which drove operating expenses higher. Operating expenses rose to $179.7 million for the year, up from $147.5 million in 2024, reflecting increased sales, marketing and R&D spend. Despite the loss, the company’s cash position remained robust, with $394.1 million in cash, cash equivalents and short‑term investments at year‑end, giving it a comfortable runway to reach profitability.
Management highlighted the company’s progress and outlook. CEO Michael A. Metzger said, “We solidified our leadership position and proved the strength of Syndax’s R&D and commercial capabilities in 2025, achieving our third FDA approval and successfully launching two first‑ and best‑in‑class medicines. We reached thousands of patients with Revuforj and Niktimvo and generated over $275 million in 2025 sales, rapidly advancing the company towards profitability.” CFO Keith Goldan added, “Total revenue for 2025 was an impressive $172.4 million, consisting of $124.8 million in Revuforj net revenue, $42.4 million of Niktimvo collaboration revenue and $5.1 million in milestones and royalties. We are well funded to continue investing… with $394 million in cash, equivalents and marketable securities at the end of 2025.”
The company guided for 2026 operating expenses of approximately $400 million, excluding $50 million in non‑cash stock compensation, and expects to reach profitability with its current cash reserves. Market reaction was muted; the stock fell 0.34% in regular trading and an additional 0.63% in after‑hours trading, closing at $20.62. Other reports noted a 1.5% after‑hours decline and a 1.2% year‑to‑date drop, reflecting investor focus on the EPS miss despite the revenue beat and the company’s heavy investment in growth.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.