Syndax Pharmaceuticals Inc · Q4 2021 earnings

Briefing

Reported financial results for the fourth quarter ended December 31, 2021.

Syndax Pharmaceuticals reported a net profit attributable to common stockholders of $96.2 million or $1.81 per share for the three months ended December 31, 2021. The company's pipeline development remains on track, with topline data expected from pivotal programs starting in the first half of 2023.

• Enrollment remains on track for pivotal programs of SNDX-5613 and axatilimab; topline data expected starting in the first half of 2023
• Initiation of three new trials of SNDX-5613 in NPM1 and MLLr acute leukemias, including in the first-line and maintenance settings, expected in 1H22
• Closing of the agreement triggered a $117 million upfront payment by Incyte to Syndax, as well as Incyte’s $35 million equity investment in Syndax.
• License revenue for the fourth quarter 2021 increased to $126.6 million from $0.4 million due to revenue related to the license and collaboration agreement with Incyte and the termination of the Company’s license agreement with KKC.

Headline financials

Revenue & EPS history

For the first quarter of 2022, research and development expenses are expected to be $30 to $35 million, and total operating expenses are expected to be $38 to $42 million. For the full year of 2022, research and development expenses are expected to be $130 to $140 million, and total operating expenses are expected to be $160 to $170 million. This does not include any potential cost offsets due to the Incyte collaboration.