Short answer
Syndax Pharmaceuticals Inc (SNDX) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $172M (+627.8% year over year) and net income of −$285M.
- Top risk flagged: Cybersecurity risk from IT system compromise with potential regulatory investigations and fines
FY2025 key financial metrics · XBRL
- Revenue
- $172M
- +627.8% YoY
- Net income
- −$285M
- +10.5% YoY
- Operating margin
- -158.4%
- +1276.0 pp YoY
- EPS (diluted)
- −$3.29
- +11.6% YoY
- ROE
- -441.6%
- −331.0 pp YoY
- Operating cash flow
- −$323M
- −17.5% YoY
Source: XBRL data from the Syndax Pharmaceuticals Inc (SNDX) FY2025 10-K on SEC EDGAR. USD.
Syndax Pharmaceuticals Inc FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Commercial-stage biopharma focused on innovative cancer therapies with two FDA-approved drugs: Revuforj (menin inhibitor) and Niktimvo (CSF-1R antibody)
- New FDA approval in Oct 2025 for Revuforj in relapsed/refractory AML with NPM1 mutation, expanding use beyond KMT2A translocation leukemia
- Strategic emphasis on frontline combination trials for Revuforj to support label expansion and NCCN guideline inclusion for broader leukemia treatment
- Launched Revuforj and Niktimvo in US in late 2024/early 2025; Revuforj Phase 3 EVOLVE-2 and REVEAL-ND pivotal trials initiated in 2025 targeting newly diagnosed AML
- Initiated first clinical data program in 2026 for Revuforj in myelofibrosis and advancing axatilimab in idiopathic pulmonary fibrosis, representing novel disease areas
Management Discussion & Analysis
- Revenue $172.4M in 2025 vs $23.7M in 2024; net product revenue Revuforj $124.8M vs $7.7M, collaboration revenue Niktimvo $42.4M vs $0
- Net loss $285.4M in 2025 vs $318.8M in 2024; operating loss $273.1M vs $339.7M; operating margin approx. -158.5% vs -143.3% (losss as % of revenue)
- Best performing segment: Revuforj product revenue $124.8M; worst: milestone/license revenue down $10.9M to $5.1M
- Cash, equivalents & short-term investments $394.1M as of Dec 31, 2025; no explicit buybacks/dividends; increased SG&A by $58.8M primarily for commercial launch expenses
- Forward outlook risk: high interest rates and recession risk may affect financing, inflation could raise operating costs, ongoing clinical and regulatory uncertainties
Risk Factors
- Cybersecurity risk from IT system compromise with potential regulatory investigations and fines
- Board audit committee oversees cybersecurity risk management with annual CFO reports on threats and mitigation
- VP of IT with 25+ years experience responsible for cybersecurity strategy and budget approval
- Escalation process includes CFO, CEO, and General Counsel for cybersecurity incident response
- No specific regulatory, geopolitical, supply chain, competitive, or financial risks detailed in text
Generated from the filing text; verify against the original. How to read a 10-K
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