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Syndax Pharmaceuticals, Inc.

SNDX

Healthcare · 18.20 -3.4% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Syndax Pharmaceuticals, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.

Company-3.4% todayVolume comparison unavailable
Market group0 of 2 activeBiotechnology · unavailable
Disclosed network0 of 7 confirmingNo filing-linked name is confirming now
What would change this read
  • SNDX's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if SNDX's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Biotechnology

No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • SNDX's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements74
Verified relationships6
Evidence supporting the case
  • Latest annual revenue changed +627.8% year over year.
  • Operating margin changed +1276.0 percentage points in the latest annual period.
  • Net margin changed +1180.5 percentage points in the latest annual period.
  • Credit and interest rates has repeated favorable evidence across 4 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 11, 2026

18.20
6m-24.2%12m+15.7%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$139.7M+9109.6%$0.46+29.8%
2022-12-31$0-100.0%$-2.46+13.3%
2023-12-31$0$-2.98+15.8%
2024-12-31$23.7M$-3.72+21.7%
2025-12-31$172.4M+627.8%$-3.29+1.2%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 4 filings
Royalty Interest Expense For the three months ended March 31, 2026, royalty interest expense increased due to the interest expense recognized related to the Royalty Pharma Purchase and Sale Agreement signed in November 2024.
10-Q · Apr 30, 2026
Legal and regulatory exposuremixed · 2 filings
Over the term of the Vitae license agreement, and subject to the achievement of certain milestone events, we were required to pay Vitae up to $99.0 million in one-time development and regulatory milestone payments.
10-K · Feb 26, 2026
Product pipeline and R&Dmixed · 1 filings
ion payable due to Incyte for development and pre-commercialization costs incurred by Incyte, research and development expense and cost offset are recorded as part of operating expenses.
10-Q · Nov 3, 2025

Valuation discipline

Descriptive valuation snapshot

Price/sales 9.1× · EV/sales 8.4×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

18.20-3.4% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for SNDX. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for SNDX. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind SNDX

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

ABBVAbbVie Inc.partnerApr 30, 2026

Included in cost of product sales are royalties owed to AbbVie on Revuforj sales as part of the Vitae License Agreement.

INCYIncyte CorporationpartnerApr 30, 2026

We are leading the commercialization and further development of revumenib and working closely with our collaboration partner, Incyte, on the commercialization and further development of axatilimab.

Depended on by

INCYIncyte CorporationpartnerApr 28, 2026

In addition to establishing collaborative or license arrangements under which other parties license our drug candidates for development and commercialization or under which we study our drug candidates in combination with such parties’ compounds or biologics,…

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 11 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

SNDX is currently a Early Follower in the organic co-movement group Biotechnology. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.