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Syndax Pharmaceuticals

SNDX on Nasdaq. Syndax Pharmaceuticals sells cancer drugs to hospitals and patients. Market value $1.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Health care stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
-20.8%low

For every $100 of what the whole company costs, it produced $-20.83 of spare cash last year. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.

$17.37 a share, 34% above its 1-year low

Over the past year the price has ranged from $12.99 to $25.59.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
-0.3
-0.3
20212022202320242025
Revenue
$140m$0$0$24m$172m
Operating margin
18.8%n/an/a-1434.4%-158.4%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.06bn0.07bn0.09bn0.09bn0.09bn

Health checks

  • Free cash flow positive0 of 2 years
  • Accounting checksSkipped: company is not yet profitable
  • DebtUnknown
  • Revenue growth, five yearsStrong, 157.7% a year
  • Buying back its own sharesNo, 48% more shares since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $73 million last quarter, up 92% on a year ago.
  • A loss of $49 million, compared with a loss of $72 million a year ago.
  • It loses 77 cents on each $1 of sales, compared with 435 cents a year earlier.
  • 3% more shares than a year ago. Each share owns a bit less of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$13m
December 2024$8m
March 2025$20m
June 2025$38m
September 2025$46m
December 2025$69m
March 2026$65m
June 2026$73m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$84m
December 2024-$94m
March 2025-$85m
June 2025-$72m
September 2025-$61m
December 2025-$68m
March 2026-$43m
June 2026-$49m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
3 November 2026

Who owns it

2 long-term investors we follow own it, up from 1 last quarter. 242 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 3 sold $3m, $2m of it under preset trading plans.

  • Metzger Michael A
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    8 July 2026
    Shares
    32,375
    Price
    $24.24
    Value
    $784,776
  • Botwood Nicholas A.J.
    Head of R&D, CMO
    Sold
    under a preset trading plan
    Date
    12 June 2026
    Shares
    31,235
    Price
    $18.14
    Value
    $566,603
  • Botwood Nicholas A.J.
    Head of R&D, CMO
    Sold
    under a preset trading plan
    Date
    11 June 2026
    Shares
    34,280
    Price
    $18.00
    Value
    $617,040
  • Goldan Keith A.
    Chief Financial Officer
    Sold
    Date
    1 June 2026
    Shares
    1,177
    Price
    $18.99
    Value
    $22,351
  • Metzger Michael A
    Chief Executive Officer, Director
    Sold
    Date
    1 June 2026
    Shares
    6,847
    Price
    $18.99
    Value
    $130,025
  • Metzger Michael A
    Chief Executive Officer, Director
    Sold
    Date
    9 February 2026
    Shares
    17,159
    Price
    $21.03
    Value
    $360,854
  • Goldan Keith A.
    Chief Financial Officer
    Sold
    Date
    9 February 2026
    Shares
    3,410
    Price
    $21.03
    Value
    $71,712
  • Metzger Michael A
    Chief Executive Officer, Director
    Sold
    Date
    6 February 2026
    Shares
    7,412
    Price
    $20.62
    Value
    $152,835
  • Goldan Keith A.
    Chief Financial Officer
    Sold
    Date
    6 February 2026
    Shares
    2,082
    Price
    $20.62
    Value
    $42,931

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.