Syndax Pharmaceuticals Inc · Q4 2020 earnings

Briefing

Syndax reported financial results for the fourth quarter ended December 31, 2020.

Syndax Pharmaceuticals reported a net loss of $20.4 million for the fourth quarter of 2020, with research and development expenses increasing to $15.5 million and general and administrative expenses decreasing to $4.7 million. The company's cash balance at the end of the year was $293.1 million, providing a cash runway into 2023.

• Phase 1 AUGMENT-101 data expected in late 1Q21 or early 2Q21; Phase 2 expansion cohorts expected to commence in 2Q21.
• Enrollment underway in pivotal Phase 2 AGAVE-201 trial of axatilimab in cGVHD.
• End of year cash balance of $293.1 million provides cash runway into 2023.
• The pivotal Phase 2 AGAVE-201 trial, which will evaluate the safety and efficacy of three doses and schedules of axatilimab in patients with cGVHD, began enrolling patients earlier this quarter.

Headline financials

Revenue & EPS history

For the first quarter of 2021, research and development expenses are expected to be $25 to $30 million, and total operating expenses are expected to be $30 to $35 million. For the full year of 2021, research and development expenses are expected to be $90 to $100 million, and total operating expenses are expected to be $110 to $120 million.