Financial Data and Key Metrics Changes - Total revenue for 2025 was $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 [33] - Revuforj net revenue increased by 38% in the fourth quarter compared to the third quarter, driven by strong demand [33] - Niktimvo net revenue for 2025 reached $151.6 million, surpassing first-year launch benchmarks set by Rezurock [18][33] Business Line Data and Key Metrics Changes - Revuforj generated $125 million in net revenue in 2025, with a 38% growth in net revenue and a 35% growth in prescriptions quarter-over-quarter in Q4 [6][7] - Niktimvo saw a 22% increase in net revenue quarter-over-quarter in Q4, contributing $42 million in collaboration revenue to Syndax [8][9] Market Data and Key Metrics Changes - The KMT2A business showed continued growth as the number of patients on therapy post-transplant began to increase significantly [7] - The NPM1 market opportunity is estimated to triple the annual addressable patient population to 6,500 patients, with early data indicating strong uptake [13][15] Company Strategy and Development Direction - Syndax aims to expand its market share in menin inhibition, with Revuforj positioned as the leading menin inhibitor in both relapsed refractory and frontline settings [36] - The company is focused on advancing its pipeline, including pivotal trials for revumenib and axatilimab, to unlock significant market opportunities [22][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued success of Revuforj and Niktimvo, supported by strong customer relationships and clinical data [9][11] - The company is well-funded with $394 million in cash and equivalents, expecting to reach profitability without additional capital [35] Other Important Information - Syndax completed enrollment in the MAXPIRe trial for axatilimab in idiopathic pulmonary fibrosis, with top-line data expected in Q4 2026 [10][28] - The company anticipates stable expenses in 2026, guiding total R&D plus SG&A expenses to approximately $400 million [35] Q&A Session Summary Question: What factors are driving the increase in KMT2A maintenance therapy post-transplant? - Management noted that the growth in KMT2A has been significant, with a third of patients going to transplant and an increasing number returning for maintenance therapy, which is expected to continue growing [40][41] Question: What is the expected steady state for NPM1 patient starts? - Management indicated that they expect the percentage of NPM1 patient starts to grow significantly, potentially reaching a 50/50 split with KMT2A patients as awareness and access improve [43][45] Question: What are the criteria for determining the go-forward decision on the IPF indication? - Management highlighted the importance of statistical significance and clinical relevance against historical controls, with a focus on achieving a meaningful difference in forced vital capacity [47][49] Question: How quickly can a pivotal trial for IPF be initiated if the phase II trial reads out positively? - Management expressed intent to design and execute the next trial as quickly as possible, with plans for a phase III trial based on the positive results from the phase II study [52][53] Question: Are physicians comfortable with the dosing of Revuforj in maintenance therapy? - Management confirmed that physicians are becoming more comfortable with the dosing as maintenance use increases, supported by ongoing studies to optimize dosing [61][62] Question: What is the strategy for moving Revuforj into newly diagnosed fit KMT2A patients? - Management explained that they are pursuing innovative approaches, including trials with venetoclax, to potentially reduce morbidity while achieving similar outcomes to intensive chemotherapy [66][67]

Fourth Quarter and Full Year 2025 Financial Results February 26, 2026 Forward-looking statements disclosure This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate" and similar expressions (as well as other words or expressions referencing future events, progress, timing or circumstances) are intended to identify forward-looking statements. All statements other than statements ...