Syndax(SNDX) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $45.9 million, representing a 21% growth over Q2 2025[1] - Revuforj net revenue was $32.0 million, with total prescriptions increasing by 25% over Q2 2025[1][4] - Niktimvo net revenue was $45.8 million, reflecting a 27% increase over Q2 2025, with Syndax's share of collaboration revenue at $13.9 million[1][9] - Total revenues for the three months ended September 30, 2025, were $45.871 million, compared to $12.5 million for the same period in 2024, representing a significant increase[32] - Product revenue for the nine months ended September 30, 2025, was $80.649 million, while collaboration revenue was $22.975 million, indicating strong performance in both areas[32] Expenses - Research and development expenses decreased to $56.3 million from $71.0 million year-over-year, primarily due to a prior milestone payment[11] - Selling, general and administrative expenses increased to $44.9 million from $31.1 million year-over-year, driven by higher commercial costs[12] - Total operating expenses for the three months ended September 30, 2025, were $103.297 million, slightly higher than $102.077 million for the same period in 2024[32] - For the full year 2025, the company expects total expenses to be between $380 million and $385 million, excluding an estimated $45 million in non-cash stock compensation[14] Net Loss - The net loss attributable to common stockholders for Q3 2025 was $60.7 million, or $0.70 per share, compared to a loss of $84.1 million, or $0.98 per share, in the prior year[13] - The net loss for the three months ended September 30, 2025, was $60.715 million, compared to a net loss of $84.126 million for the same period in 2024, showing an improvement[32] - Basic loss per share attributable to common stockholders for the three months ended September 30, 2025, was $0.70, down from $0.98 in the same period of 2024[32] - The company reported a loss from operations of $57.426 million for the three months ended September 30, 2025, compared to a loss of $89.577 million for the same period in 2024, indicating operational improvements[32] Cash and Equity - As of September 30, 2025, the company had $456.1 million in cash, cash equivalents, and investments[8] - Total stockholders' equity as of September 30, 2025, was $115.430 million, a decrease from $288.124 million as of December 31, 2024[30] - Cash, cash equivalents, and investments totaled $456.125 million as of September 30, 2025, down from $692.404 million as of December 31, 2024, indicating a reduction in liquidity[30] - Common stock outstanding increased to 86,905,343 shares as of September 30, 2025, from 85,694,443 shares as of December 31, 2024, reflecting ongoing equity financing activities[30] Product Development - Revuforj received FDA approval for R/R NPM1m AML on October 24, 2025, marking a significant milestone for the product[5] - The company is advancing multiple clinical trials for Revuforj and Niktimvo, aiming to unlock their multi-billion-dollar potential in various indications[3][19] - Research and development expenses for the nine months ended September 30, 2025, were $180.143 million, compared to $176.118 million for the same period in 2024, reflecting continued investment in product development[32]