SNDX Stock — Syndax Pharmaceuticals Inc.: Cash, EV, Pipeline

What they do

Our Company We are a commercial-stage biopharmaceutical company advancing innovative cancer therapies. We currently have two commercially approved medicines, Revuforj ® (revumenib) and Niktimvo™ (axatilimab-csfr), and a robust slate of clinical development programs designed to unlock the full potential of our first two products.

Source: 10-K FY2025 via SEC EDGAR

Share price

$9.54

Market cap

$858.5M

Cash

$427.1M

Enterprise value

$775.5M

Balance sheet

Cash	$427.1M
Debt	$344.1M
Net cash	$83.0M
Enterprise value	$775.5M
Basic shares	89.3M shares
Fully diluted shares	118.6M shares
Fully diluted market cap	$1,131.0M
Cash per share	$4.78
Quarterly burn	$30.3M
Cash runway	18.1 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

90.0M

Pre-funded warrants

0.0M

Options

13.3M

RSUs

3.1M

Warrants

0.0M

Converts

10.1M

Conv preferred

0.0M

ESPP reserve

2.0M

FDSO

118.6M

Cap table as of 2026-09-30.

Price history

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Next catalyst

axatilimab (frontline cGVHD) · Est. Nov 15, 2026 · quarter midpoint · guided Now

Recently reported

Axatilimab Phase 2 Missed primary · 2026-10-12

MAXPIRe · idiopathic pulmonary fibrosis

Primary: Annualized rate of decline in forced vital capacity (FVC) — Trial did not meet its primary endpoint

· Phase 2, 26-week, randomized, double-blind, placebo-controlled, multicenter trial; 145 patients enrolled across 62 sites in 14 countries

· Axatilimab 0.3 mg/kg vs placebo every two weeks, randomized 2:1, stratified by background antifibrotic therapy

· Syndax does not plan to move forward with further development of axatilimab in IPF

· Ongoing axatilimab cGVHD trials unaffected, with results expected later this year and early 2028

Safety: Well tolerated with a safety profile comparable to placebo; no new safety signals; no treatment-related fatal adverse events in either arm

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 15, 2026 Now quarter midpoint	axatilimab (frontline cGVHD) Phase 2 in frontline chronic graft-versus-host disease (cGVHD)	Phase 2	frontline chronic graft-versus-host disease (cGVHD)	Q4 2026
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	revumenib Phase 1/2 proof-of-principle in myelofibrosis	Phase 1/2	myelofibrosis	H2 2027
Jan 12 - Feb 23 in 75 mo	Samalizumab (BAML-16-001-S1)	Phase 3	Previously Untreated Relapsed Refractory Acute Myeloid Leukemia	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Revuforj (revumenib)

Approved · Active Modality: small molecule (oral menin inhibitor)

Target Menin

Partnerships Licensed from Vitae Pharmaceuticals (AbbVie subsidiary): exclusive worldwide license to menin-KMT2A interaction inhibitors

Indications

Relapsed/refractory acute leukemia with KMT2A translocation (adults and pediatrics 1+) (Approved)
Relapsed/refractory acute myeloid leukemia with susceptible NPM1 mutation (adults and pediatrics 1+, no satisfactory alternative) (Approved)
Myelofibrosis (MF) (Phase 1)

Catalysts

— Q4 2026
— Q4 2026
— 2H 2026
— end 2026

Status note FDA approvals: Nov 2024 for R/R KMT2A-translocated acute leukemia; Oct 2025 for R/R NPM1m AML. Phase 3 EVOLVE-2 (newly diagnosed NPM1m/KMT2Ar AML, unfit for intensive chemo) and REVEAL-ND (newly diagnosed NPM1m AML with intensive chemo) ongoing. Proof-of-principle Phase 1/2 of revumenib in MF to initiate Q4 2026 (initial data expected 2H 2027).

Niktimvo (axatilimab)

Approved · Active Modality: monoclonal antibody (anti-CSF-1R)

Aliases axatilimab-csfr

Target CSF-1R

Partnerships Incyte: worldwide development/commercialization collaboration; US co-commercialization 50/50, Incyte commercializes ex-US (55%/45% development cost split). Royalty Pharma purchased US revenue-stream rights ($350M upfront, Nov 2024). Licensed from UCB Biopharma (exclusive worldwide license)

Indications

Chronic graft-versus-host disease (cGVHD) after failure of at least two prior lines of systemic therapy (adults and pediatrics >=40 kg) (Approved)
Newly diagnosed cGVHD (with ruxolitinib or corticosteroids) (Phase 3)
Idiopathic pulmonary fibrosis (IPF) (Phase 2)

Catalysts

— Q4 2026
— Q4 2026
— early 2028

Status note FDA approved Aug 2024 for cGVHD post >=2 lines. Phase 2 trial with ruxolitinib in newly diagnosed cGVHD (topline Q4 2026); pivotal Phase 3 with corticosteroids in newly diagnosed cGVHD (topline early 2028). Phase 2 MAXPIRe in IPF (topline Q4 2026).

SNDX-4321

Preclinical · Active Modality: small molecule (mutant-selective allosteric EGFR inhibitor, CNS-penetrant)

Target EGFR (mutant-selective, allosteric; L858R and other mutations)

Partnerships Exclusive worldwide license (announced July 2026)

Indications

Non-small cell lung cancer (NSCLC) (Preclinical)

Catalysts

— end 2026
— 2027

Status note Announced July 2026. IND submission expected by end 2026; Phase 1 in EGFRm NSCLC to initiate 2027.

SNDX-62122

Preclinical · Active Modality: small molecule (next-generation menin inhibitor)

Target Menin

Partnerships Internally developed, wholly owned

Indications

Myelofibrosis (MF) (Preclinical)

Catalysts

— 2027
— 2H 2027

Status note Announced July 2026. IND submission and Phase 1 initiation in MF expected 2027; development informed by revumenib proof-of-principle trial in MF.

Per-asset detail extracted from the 10-Q filed 2026-08-04. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Revumenib
Lead indication	Acute Myeloid Leukemias
Lead phase	Phase 3
Active trials	0
Collaborator trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT03013998	Phase 3	Recruiting	Collaborator	Beat AML, LLC	—	Previously Untreated Relapsed Refractory Acute Myeloid Leukemia	—
NCT05360160	Phase 2	Recruiting	Collaborator	M.D. Anderson Cancer Center	—	Acute Myeloid Leukemia	—
NCT03501381	Phase 2	Active, not recruiting	Collaborator	Roberto Pili	—	Renal Cell Carcinoma	—

Sponsor-matched active trials from ClinicalTrials.gov (0 as sponsor, 3 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Beat AML, LLC on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Deerfield Management	3,779,900	no change	0.86%	2026-08-14
OrbiMed Advisors	1,542,000	+579,700	0.64%	2026-08-14
Aisling Capital	1,316,806	no change	6.10%	2026-08-13
Sphera Biotech	1,014,606	+290,043	3.17%	2026-08-14
DAFNA Capital	335,255	+117,900	1.40%	2026-08-14
ADAR1 Capital Management	0	-17,500	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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SNDX — Syndax Pharmaceuticals Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

SNDX — Syndax Pharmaceuticals Inc.