Q2 2026 Syndax Pharmaceuticals Inc Earnings Call Transcript
Key Points
- Combined net revenue for Revuforj and Niktimvo grew to $115 million in Q2 2026, with Revuforj up 91% year-over-year and Niktimvo up 67% year-over-year.
- Revuforj continues to lead the menin inhibitor market with a best-in-class profile, including individualized dosing, no clinically meaningful pruritus, and no concerns with gastric acid reducers.
- Average treatment duration for Revuforj is increasing, driven by a growing number of patients on post-transplant maintenance therapy, with 50% of KMT2A patients proceeding to transplant and 50% of those resuming therapy.
- Niktimvo is tracking well against the launch of Rezurock, with strong adoption in third-line and fourth-line chronic GVHD, and a broad prescriber base across nearly every bone marrow transplant center in the US.
- The pipeline is advancing with multiple upcoming catalysts, including phase 2 data for axatilumab in IPF and frontline chronic GVHD in Q4 2026, and the initiation of proof-of-principle trials for new assets SNDX-4321 and SNDX-62122.
- The company is fully funded with $575 million in cash, including proceeds from a $250 million convertible notes offering at a low 2.25% interest rate, supporting operations through profitability.
- New patient starts for Revuforj fluctuated in Q2 2026, with a decline from prior quarters, attributed to typical variability in a rare disease market and competition from other menin inhibitors.
- Revuforj's penetration in the NPM1-mutated AML market remains low, with less than 15% of the eligible patient population having received a menin inhibitor, indicating a slower build compared to KMT2A.
- Niktimvo's sequential growth has flattened, with only 9% quarter-over-quarter growth, and the company faces competition in the chronic GVHD market.
- The company expects R&D and SG&A expenses to remain high at approximately $400 million in 2026, excluding stock compensation, which could pressure near-term profitability.
- The Niktimvo collaboration revenue margin is expected to remain in the 25-30% range in the near term, limiting the direct financial benefit from sales growth.
- The company's guidance for peak Revuforj revenue of $2 billion in the US alone is based on assumptions of frontline approval and high market penetration, which are not yet realized and carry execution risk.
Good day everyone, and welcome to the Cinex second quarter 2026 earnings conference call. Today's call is being recorded. If you'd like to ask a question following the company's repair remarks, please press star 5 during the call. At this time, I would like to turn the call over to Sharon Clary, head ofla, head of investor relations atindux Pharmaceuticals.
Thank you, operator. Welcome and thank you all for joining us today for a review of Sinda's second quarter 2026 financial and operating results. Sharon Clary, and with me this afternoon to provide an update on the company's progress and discuss financial results are Michael Metzger, Chief Executive Officer. Steve Kloster, Chief Commercial Officer, Doctor Bob Wood, head of R&D and Chief Medical Officer, and Keith Goldan, Chief Financial Officer. This call is accompanied by a slide deck that has been posted on the investor page of the company's website. You can now turn to our forward-looking statements on slide 2. Before we begin, I'd
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