Syndax Pharmaceuticals (Syndax Pharmaceuticals) Beneish M-Score : 0.00 (As of May. 12, 2024)

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What is Syndax Pharmaceuticals Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Syndax Pharmaceuticals's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of Syndax Pharmaceuticals was 80.29. The lowest was -7.64. And the median was -2.57.

Syndax Pharmaceuticals Beneish M-Score Historical Data

The historical data trend for Syndax Pharmaceuticals's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Syndax Pharmaceuticals Beneish M-Score Chart

Syndax Pharmaceuticals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.34

-1.82

78.17

Syndax Pharmaceuticals Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Syndax Pharmaceuticals's Beneish M-Score

For the Biotechnology subindustry, Syndax Pharmaceuticals's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Syndax Pharmaceuticals's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Syndax Pharmaceuticals's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Syndax Pharmaceuticals's Beneish M-Score falls into.

Syndax Pharmaceuticals Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Syndax Pharmaceuticals for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $7.59 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $453.90 Mil.
Total Assets was $543.03 Mil.
Property, Plant and Equipment(Net PPE) was $1.25 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $77.98 Mil.
Total Current Liabilities was $50.81 Mil.
Long-Term Debt & Capital Lease Obligation was $0.33 Mil.
Net Income was -72.4 + -72.473 + -51.146 + -44.615 = $-240.63 Mil.
Non Operating Income was -0.087 + -0.055 + -0.066 + -0.093 = $-0.30 Mil.
Cash Flow from Operations was -83.548 + -41.349 + -44.653 + -35.371 = $-204.92 Mil.

Total Receivables was $2.07 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $441.51 Mil.
Total Assets was $459.83 Mil.
Property, Plant and Equipment(Net PPE) was $0.95 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $38.38 Mil.
Total Current Liabilities was $23.72 Mil.
Long-Term Debt & Capital Lease Obligation was $0.60 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(7.586 / 0)	/	(2.072 / 0)
	=		/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (453.899 + 1.248) / 543.028)	/	(1 - (441.511 + 0.946) / 459.826)
	=	0.161835	/	0.037773
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.025 / (0.025 + 0.946))	/	(0.012 / (0.012 + 1.248))
	=	0.025747	/	0.009524
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(77.983 / 0)	/	(38.383 / 0)
	=		/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0.334 + 50.805) / 543.028)	/	((0.6 + 23.721) / 459.826)
	=	0.094174	/	0.052892
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-240.634 - -0.301	-	-204.921)	/	543.028
	=	-0.065212

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Syndax Pharmaceuticals Beneish M-Score Related Terms

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Syndax Pharmaceuticals (Syndax Pharmaceuticals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Syndax Pharmaceuticals Inc (NAS:SNDX) » Definitions » Beneish M-Score

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1T3:Germany

Address

35 Gatehouse Drive, Building D, Floor 3, Waltham, MA, USA, 02451

Website

https://www.syndax.com

Syndax Pharmaceuticals Inc is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The company's product candidates are entinostat which has direct effects on both cancer cells and immune regulatory cells, SNDX-6352 and SNDX-6352, an anti-CSF-1R monoclonal antibody, to enhance the body's immune response on tumors that have shown sensitivity to immunotherapy. Business activity of the group is primarily functioned through the region of United States.

Executives

Briggs Morrison	director, officer: Chief Executive Officer	C/O SYNDAX PHARMACEUTICALS, INC., 400 TOTTEN POND ROAD, SUITE 110, WALTHAM MA 02451
William Meury	director	C/O FOREST LABORATORIES, INC., 909 THIRD AVENUE, NEW YORK NY 10022
Keith A. Goldan	officer: Chief Financial Officer	227 WASHINGTON STREET, SUITE 200, CONSHOHOCKEN PA 19428
Neil Gallagher	officer: President, Head of R&D	35 GATEHOUSE DRIVE, BUILDING D, FLOOR 3, WALTHAM MA 02451
Peter Ordentlich	officer: Chief Technology Officer	C/O SYNDAX PHARMACEUTICALS, INC., 400 TOTTEN POND ROAD, SUITE 140, WALTHAM MA 02451
Michael A Metzger	officer: President and COO	C/O SYNDAX PHARMACEUTICALS, INC., 400 TOTTEN POND ROAD,, WALTHAM MA 02451
Pierre Legault	director	P.O. BOX 1028, C/O STONE MANAGEMENT LLC, BERWYNE PA 19312
Steve M Sabus	officer: Chief Commercial Officer	10628 SCIENCE CENTER DRIVE, SUITE 200, SAN DIEGO CA 92121
Keith Katkin	director	C/O UROVANT SCIENCES, INC., 5281 CALIFORNIA AVENUE, SUITE 100, IRVINE CA 92617
Dennis Podlesak	director	C/O PENINSULA PHARMACEUTICALS, INC., 1751 HARBOR BAY PARKWAY, ALAMEDA CA 94502
Catherine Madigan	officer: Chief Medical Officer	35 GATEHOUSE DRIVE, BUILDING D, FLOOR 3, WALTHAM MA 02451
Alexander Nolte	officer: Chief Accounting Officer	35 GATEHOUSE DRIVE, BUILDING D, FLOOR 3, WALTHAM MA 02451
Fabrice Egros	director	C/O SYNDAX PHARMACEUTICALS, INC., TOTTEN POND ROAD, SUITE 140, WALTHAM MA 02451
Huber Martin H. Jr.	director	C/O TESARO, INC., 1000 WINTER STREET, SUITE 3300, WALTHAM MA 02451
Daphne Karydas	officer: Chief Financial Officer	35 GATEHOUSE DRIVE, BUILDING D, FLOOR 3, WALTHAM MA 02451