Syndax Pharmaceuticals (SNDX) Tops Q3 EPS by 9c, provides guidance

Syndax Pharmaceuticals (NASDAQ: SNDX) reported Q3 EPS of ($0.98), $0.09 better than the analyst estimate of ($1.07). Revenue for the quarter came in at $12.5 million versus the consensus estimate of $9.16 million.

Financial Guidance

For the full year of 2024, the Company expects research and development expenses to be $245 to $250 million (prior guidance $240 million to $260 million) and total operating expenses to be $365 to $370 million (prior guidance $355 million to $375 million), which includes milestone payments that the Company expects to become due as well as an estimated $41 million (prior guidance $43 million) in non-cash stock compensation expense.

Syndax expects that its cash, cash equivalents and marketable securities, together with the $350 million from the sale of a portion of the Niktimvo royalty and anticipated product revenue and interest income, enables the company to reach profitability.

For earnings history and earnings-related data on Syndax Pharmaceuticals (SNDX) click here.

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