Factor Model (net -2.6)
Factor Model
net -2.6 5.2 / 10Flagship drugs ramping with $277M combined run rate
Watch: Monitor Niktimvo's patient enrollment velocity and label expansion timelines in third-line-plus GVHD—each incremental cohort represents meaningful revenue acceleration. Q1 2026 data will confirm whether Q4 momentum persists or normalizes.
Syndax's two FDA-approved drugs are firing on all cylinders. Revuforj hit $125 million in sales and Niktimvo reached $152 million in the first 11 months of 2026, with both showing quarter-over-quarter momentum. The real story is Niktimvo's patient expansion potential—targeting 6,500 patients today but potentially reaching 17,000 in chronic GVHD indications, which could unlock $1 billion in additional third-line-plus sales.
Two newly launched drugs generating $277 million in combined early sales validates Syndax's clinical strategy and suggests meaningful commercial execution. The addressable market expansion for Niktimvo—from 6,500 to 17,000 eligible patients—represents a 2.6x upside to the revenue opportunity, indicating this isn't a niche play but a potential blockbuster-trajectory asset.
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