$SNDX
Syndax Pharmaceuticals Inc

2016 Q2 Form 10-Q Financial Statement

#000119312516591861 Filed on May 16, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $305.0K $305.0K $0.00
YoY Change 1694.12%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.810M $4.270M $2.710M
YoY Change -14.59% 57.56% 46.49%
% of Gross Profit
Research & Development $6.131M $4.786M $1.723M
YoY Change 169.97% 177.77% -19.49%
% of Gross Profit
Depreciation & Amortization $10.00K $50.00K $90.00K
YoY Change -111.11% -44.44%
% of Gross Profit
Operating Expenses $8.939M $9.058M $4.434M
YoY Change 60.8% 104.29% 11.41%
Operating Profit -$8.634M -$8.753M -$4.434M
YoY Change 55.79% 97.41%
Interest Expense $276.0K $144.0K -$339.0K
YoY Change -185.71% -142.48%
% of Operating Profit
Other Income/Expense, Net $276.0K -$1.577M -$477.0K
YoY Change -141.07% 230.61% 1092.5%
Pretax Income -$8.360M -$10.33M -$4.910M
YoY Change 34.62% 110.39% 22.14%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.358M -$10.33M -$4.911M
YoY Change 34.5% 110.34% 22.16%
Net Earnings / Revenue -2740.33% -3386.89%
Basic Earnings Per Share
Diluted Earnings Per Share -$470.5K -$581.0K -$282.7K
COMMON SHARES
Basic Shares Outstanding 17.78M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.9M $134.3M
YoY Change 174.89%
Cash & Equivalents $14.44M $23.19M $9.282M
Short-Term Investments $111.5M $111.1M
Other Short-Term Assets $1.200M $1.100M
YoY Change 140.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $127.4M $135.8M
YoY Change 175.71%
LONG-TERM ASSETS
Property, Plant & Equipment $304.0K $275.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $173.0K $217.0K
YoY Change -42.33%
Total Long-Term Assets $477.0K $492.0K
YoY Change 59.0%
TOTAL ASSETS
Total Short-Term Assets $127.4M $135.8M
Total Long-Term Assets $477.0K $492.0K
Total Assets $127.9M $136.3M
YoY Change 174.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.588M $2.225M
YoY Change 98.5%
Accrued Expenses $3.700M $3.600M
YoY Change 76.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.553M $7.035M
YoY Change -8.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $232.0K $243.0K
YoY Change -98.67%
Total Long-Term Liabilities $15.06M $15.38M
YoY Change -35.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.553M $7.035M
Total Long-Term Liabilities $15.06M $15.38M
Total Liabilities $21.62M $22.41M
YoY Change -29.13%
SHAREHOLDERS EQUITY
Retained Earnings -$279.5M -$271.2M
YoY Change
Common Stock $385.6M $384.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $106.2M $113.8M
YoY Change
Total Liabilities & Shareholders Equity $127.9M $136.3M
YoY Change 174.96%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$8.358M -$10.33M -$4.911M
YoY Change 34.5% 110.34% 22.16%
Depreciation, Depletion And Amortization $10.00K $50.00K $90.00K
YoY Change -111.11% -44.44%
Cash From Operating Activities -$6.890M -$6.400M $21.97M
YoY Change 72.25% -129.13% -587.14%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K $133.0K $0.00
YoY Change 700.0%
Acquisitions
YoY Change
Other Investing Activities -$560.0K -$47.00M -$23.47M
YoY Change -96.75% 100.26% -1718.62%
Cash From Investing Activities -$620.0K -$47.14M -$23.47M
YoY Change -96.4% 100.85% -1718.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.230M 53.55M -710.0K
YoY Change -106.58% -7642.25% 255.0%
NET CHANGE
Cash From Operating Activities -6.890M -6.400M 21.97M
Cash From Investing Activities -620.0K -47.14M -23.47M
Cash From Financing Activities -1.230M 53.55M -710.0K
Net Change In Cash -8.740M 10.00K -2.210M
YoY Change 244.09% -100.45% -32.21%
FREE CASH FLOW
Cash From Operating Activities -$6.890M -$6.400M $21.97M
Capital Expenditures -$80.00K $133.0K $0.00
Free Cash Flow -$6.810M -$6.533M $21.97M
YoY Change 70.68% -129.74% -587.14%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17782150 shares
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9282000
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-271151000
CY2016Q1 us-gaap Liabilities
Liabilities
22413000
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
136259000
CY2016Q1 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
15135000
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
2000
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
7035000
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
217000
CY2016Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2016Q1 us-gaap Interest Receivable Current
InterestReceivableCurrent
345000
CY2016Q1 us-gaap Supplies
Supplies
321000
CY2016Q1 us-gaap Assets
Assets
136259000
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
275000
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17769002 shares
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
15378000
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
384767000
CY2016Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3590000
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
217000
CY2016Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
454000
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
113846000
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
243000
CY2016Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
613000
CY2016Q1 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
228000
CY2016Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
229000
CY2016Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1220000
CY2016Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
2225000
CY2016Q1 us-gaap Deposits Assets Current
DepositsAssetsCurrent
654000
CY2016Q1 us-gaap Assets Current
AssetsCurrent
135767000
CY2016Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
110483000
CY2016Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
152000
CY2016Q1 us-gaap Prepaid Insurance
PrepaidInsurance
573000
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
52000
CY2016Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
110255000
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2045000
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23187000
CY2016Q1 us-gaap Short Term Investments
ShortTermInvestments
110483000
CY2016Q1 sndx Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
2306000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10009000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-252415000
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
70000
CY2015Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
561000
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
85440 shares
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20800000 shares
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
18358000
CY2015Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2175000
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
342000
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
698000
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
28000
CY2015Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
319113000
CY2015Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
48000
CY2015Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1220000
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1452000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-259675000
CY2015Q4 us-gaap Liabilities
Liabilities
23205000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
89903000
CY2015Q4 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
15440000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
1000
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
4847000
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1808000
CY2015Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
20000
CY2015Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
258000
CY2015Q4 us-gaap Supplies
Supplies
210000
CY2015Q4 us-gaap Assets
Assets
89903000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
88000
CY2015Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
805000
CY2015Q4 us-gaap Assets Current
AssetsCurrent
88007000
CY2015Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
63310000
CY2015Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
157000
CY2015Q4 us-gaap Prepaid Insurance
PrepaidInsurance
34000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
54000
CY2015Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
63282000
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1464000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23179000
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
63310000
CY2015Q4 sndx Common Stock Warrant Liability
CommonStockWarrantLiability
2848000
CY2015Q4 sndx Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
574000
CY2016Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.8 pure
CY2016Q1 sndx Underwriting Discounts And Commissions
UnderwritingDiscountsAndCommissions
300000
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
11045000
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-206.30
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
58517 shares
CY2015Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-4911000
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12072000
CY2015Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-339000
CY2015Q1 us-gaap Interest Paid
InterestPaid
203000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
344000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4434000
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-477000
CY2015Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2015Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
21564000
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
3000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4908000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
324000
CY2015Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
5412000
CY2015Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
132000
CY2015Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
17287000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-727000
CY2015Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
96000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
4434000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-19484000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
7712000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1723000
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
324000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2122000
CY2015Q1 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
1749000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2711000
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2080000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
578000
CY2015Q1 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
7713000
CY2015Q1 sndx Public Offering Costs Included In Accounts Payable And Accrued Expenses
PublicOfferingCostsIncludedInAccountsPayableAndAccruedExpenses
10000
CY2015Q1 sndx Change In Fair Value Of Warrants And Derivatives
ChangeInFairValueOfWarrantsAndDerivatives
137000
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b>1. Nature of Business</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Syndax Pharmaceuticals, Inc. (the &#x201C;Company&#x201D;) is a clinical stage biopharmaceutical company developing entinostat as a combination therapy in multiple cancer indications. Entinostat is an oral, small molecule drug candidate that has direct effects on both cancer cells and immune regulatory cells, potentially enhancing the body&#x2019;s immune response to tumors. Entinostat, which was granted Breakthrough Therapy designation by the U.S. Food and Drug Administration following positive results from the Company&#x2019;s Phase 2b clinical trial, ENCORE 301, is currently being evaluated in a Phase 3 clinical trial for advanced hormone receptor positive breast cancer. Concurrently, Syndax is developing entinostat with a focus on tumors that have shown sensitivity to immunotherapy, including lung cancer, melanoma, ovarian cancer and triple-negative breast cancer (&#x201C;TNBC&#x201D;). The Company was incorporated under the laws of the State of Delaware on October&#xA0;11, 2005 (date of inception) and is headquartered in Waltham, Massachusetts.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> On March&#xA0;8, 2016, the Company completed its initial public offering (&#x201C;IPO&#x201D;) whereby it sold 4,400,000 shares of common stock at the initial public offering price of $12.00 per share. The aggregate net proceeds received by the Company from the offering were $46.0 million, net of underwriting discounts and commissions of $3.7 million and offering expenses of $3.1 million. Upon the closing of the IPO, all outstanding shares of the Company&#x2019;s outstanding convertible preferred stock converted into 12,872,551 shares of common stock; and the Company&#x2019;s outstanding warrant liability to purchase 357,840 shares of the Company&#x2019;s common stock valued at $4.6 million was reclassified to additional paid-in capital. On March&#xA0;11, 2016, the Company issued and sold an additional 409,475 shares of its common stock at the initial public offering price of $12.00 per share as a result of the partial exercise by the underwriters of their option to purchase additional shares of common stock, resulting in additional net proceeds to the Company of $4.6 million, after deducting underwriting discounts and commissions of $0.3 million. The shares began trading on the Nasdaq Global Select Market on March&#xA0;3, 2016 under the symbol &#x201C;SNDX.&#x201D;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In connection with the closing of the Company&#x2019;s IPO, the Company filed an amended and restated certificate of incorporation and adopted amended and restated bylaws, both of which were approved by the Company&#x2019;s board of directors and stockholders on September&#xA0;28, 2015 and February&#xA0;24, 2016, respectively. Pursuant to the amended and restated certificate of incorporation, the Company is now authorized to issue 100,000,000 of common stock and 10,000,000 shares of preferred stock.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Since its inception, the Company has devoted its efforts principally to research and development and raising capital. The Company is subject to risks common to companies in the development stage, including, but not limited to, successful development of therapeutics, obtaining additional funding, protection of proprietary therapeutics, compliance with government regulations, fluctuations in operating results, dependence on key personnel and collaborative partners, and risks associated with industry changes. The Company&#x2019;s long-term success is dependent upon its ability to successfully develop and market entinostat, expand its oncology drug pipeline, earn revenue, obtain additional capital when needed, and ultimately, achieve profitable operations. The Company anticipates that it will be several years before entinostat is approved, if ever, and the Company begins to generate revenue from sales of entinostat. Accordingly, management expects to incur substantial losses on the ongoing development of entinostat and does not expect to achieve positive cash flow from operations for the foreseeable future, if ever. As a result, the Company will continue to require additional capital to move forward with its business plan. While certain amounts of this additional capital were raised in the past, there can be no assurance that funds necessary beyond these amounts will be available in amounts or on terms sufficient to ensure ongoing operations.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company&#x2019;s management believes that the cash, cash equivalents and short-term investments balances as of March&#xA0;31, 2016 should enable the Company to maintain its planned operations for at least the next 12 months. The Company&#x2019;s ability to fund all of its planned operations internally beyond that date, including the completion of its ongoing and planned clinical trial activities may be substantially dependent upon whether the Company can obtain sufficient funding on terms acceptable to the Company. Proceeds from additional capital transactions would allow the Company to accelerate and/or expand its planned research and development activities. In the event that sufficient funds were not available, the Company may be required to delay or reduce expenditures to conserve cash, which could involve scaling back or curtailing development and general and administrative activities.</p> </div>
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6403000
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.85
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001395937
CY2016Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2005-10-11
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
133000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-10330000
CY2016Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
73000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2190000
CY2016Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1703000
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
7186000
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2016Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
200000
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12928000
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
SYNDAX PHARMACEUTICALS INC
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
305000
CY2016Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
144000
CY2016Q1 us-gaap Interest Paid
InterestPaid
1000
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <i>Use of Estimates</i> &#x2013; The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of costs and expenses during the reporting period. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. The Company&#x2019;s actual results may differ from these estimates under different assumptions or conditions.</p> </div>
CY2016Q1 dei Trading Symbol
TradingSymbol
SNDX
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4541536 shares
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2190000
CY2016Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
10000
CY2016Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
50527000
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
613000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8753000
CY2016Q1 us-gaap Licenses Revenue
LicensesRevenue
305000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-18000
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1577000
CY2016Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
4551000
CY2016Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
321711000
CY2016Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2016Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
78863000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
200000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10130000
CY2016Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1000
CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-305000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8000
CY2016Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
53000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
9058000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-47137000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
53548000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4786000
CY2016Q1 us-gaap Decrease In Restricted Cash
DecreaseInRestrictedCash
2000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2190000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1285000
CY2016Q1 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
2598000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4272000
CY2016Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
328942000
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
31857000
CY2016Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
53549000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-403000
CY2016Q1 sndx Public Offering Costs Included In Accounts Payable And Accrued Expenses
PublicOfferingCostsIncludedInAccountsPayableAndAccruedExpenses
1400000
CY2016Q1 sndx Vesting Of Restricted Stock Value
VestingOfRestrictedStockValue
10000
CY2016Q1 sndx Change In Fair Value Of Warrants And Derivatives
ChangeInFairValueOfWarrantsAndDerivatives
1720000
CY2016Q1 sndx Reclassification Of Common Stock Warrant Liability To Additional Paid In Capital
ReclassificationOfCommonStockWarrantLiabilityToAdditionalPaidInCapital
4551000
CY2016Q1 sndx Accretion For Convertible Preferred Stock Dividends
AccretionForConvertiblePreferredStockDividends
2598000

Files In Submission

Name View Source Status
0001193125-16-591861-index-headers.html Edgar Link pending
0001193125-16-591861-index.html Edgar Link pending
0001193125-16-591861.txt Edgar Link pending
0001193125-16-591861-xbrl.zip Edgar Link pending
d155964d10q.htm Edgar Link pending
d155964dex311.htm Edgar Link pending
d155964dex312.htm Edgar Link pending
d155964dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sndx-20160331.xml Edgar Link completed
sndx-20160331.xsd Edgar Link pending
sndx-20160331_cal.xml Edgar Link unprocessable
sndx-20160331_def.xml Edgar Link unprocessable
sndx-20160331_lab.xml Edgar Link unprocessable
sndx-20160331_pre.xml Edgar Link unprocessable