2019 Form 10-K Financial Statement

#000156459020009016 Filed on March 05, 2020

View on sec.gov

Income Statement

Concept 2019 2018 Q4 2018 Q3
Revenue $1.517M $380.0K $379.0K
YoY Change -0.2% -68.15% 24.26%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.06M $3.890M $4.130M
YoY Change -7.11% -4.66% 16.01%
% of Gross Profit
Research & Development $42.99M $15.82M $14.10M
YoY Change -28.48% -4.69% 15.65%
% of Gross Profit
Depreciation & Amortization $90.00K $80.00K
YoY Change 15.38% -46.67%
% of Gross Profit
Operating Expenses $59.06M $19.71M $18.22M
YoY Change -23.69% -4.69% 15.68%
Operating Profit -$57.54M -$19.33M -$17.84M
YoY Change -24.17% -0.8% 15.51%
Interest Expense $1.570M $520.0K $488.0K
YoY Change -19.07% 13.04% 18.73%
% of Operating Profit
Other Income/Expense, Net $1.492M $496.0K $503.0K
YoY Change -22.09% 28.83% 40.5%
Pretax Income -$56.05M -$18.84M -$17.34M
YoY Change -24.22% -1.36% 14.91%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$56.05M -$18.84M -$17.34M
YoY Change -24.22% -1.4% 14.91%
Net Earnings / Revenue -3694.59% -4957.11% -4574.67%
Basic Earnings Per Share -$1.84
Diluted Earnings Per Share -$1.84 -$702.5K -$680.8K
COMMON SHARES
Basic Shares Outstanding 30.49M 23.36M
Diluted Shares Outstanding 30.49M

Balance Sheet

Concept 2019 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.10M $81.60M $91.50M
YoY Change -25.12% -37.85% -24.69%
Cash & Equivalents $24.60M $33.77M $26.71M
Short-Term Investments $36.50M $47.80M $64.80M
Other Short-Term Assets $1.200M $1.500M $4.100M
YoY Change -20.0% -16.67% 115.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $62.30M $83.35M $95.85M
YoY Change -25.21% -37.54% -22.69%
LONG-TERM ASSETS
Property, Plant & Equipment $1.000M $373.0K $396.0K
YoY Change 150.0% 39.7% 38.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $200.0K $219.0K $225.0K
YoY Change 0.0% -5.19% -4.66%
Total Long-Term Assets $1.200M $592.0K $621.0K
YoY Change 100.0% -84.19% 18.97%
TOTAL ASSETS
Total Short-Term Assets $62.30M $83.35M $95.85M
Total Long-Term Assets $1.200M $592.0K $621.0K
Total Assets $63.50M $83.94M $96.47M
YoY Change -24.31% -38.81% -22.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.200M $1.439M $3.180M
YoY Change 342.86% -35.53% 41.59%
Accrued Expenses $10.70M $13.10M $12.30M
YoY Change -18.32% 9.17% 14.95%
Deferred Revenue $1.517M $1.517M
YoY Change -3.56%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.40M $16.11M $17.02M
YoY Change 14.29% 1.94% 19.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.60M $136.0K $148.0K
YoY Change -8.11% -56.13% -44.57%
Total Long-Term Liabilities $13.60M $14.79M $15.18M
YoY Change -8.11% -13.38% 11.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.40M $16.11M $17.02M
Total Long-Term Liabilities $13.60M $14.79M $15.18M
Total Liabilities $31.90M $30.89M $32.19M
YoY Change 3.24% -6.01% 15.89%
SHAREHOLDERS EQUITY
Retained Earnings -$439.4M -$420.6M
YoY Change 20.02% 21.2%
Common Stock $492.5M $2.000K
YoY Change 4.66% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.60M $53.05M $64.27M
YoY Change
Total Liabilities & Shareholders Equity $63.50M $83.94M $96.47M
YoY Change -24.31% -38.81% -22.51%

Cashflow Statement

Concept 2019 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$56.05M -$18.84M -$17.34M
YoY Change -24.22% -1.4% 14.91%
Depreciation, Depletion And Amortization $90.00K $80.00K
YoY Change 15.38% -46.67%
Cash From Operating Activities -$50.61M -$15.04M -$18.47M
YoY Change -26.15% 18.24% 81.43%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$20.00K $0.00
YoY Change -100.0% -50.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $12.78M $15.98M $3.510M
YoY Change -75.23% 905.03% -49.57%
Cash From Investing Activities $12.78M $15.96M $3.510M
YoY Change -75.13% 929.68% -49.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 28.57M 6.150M 9.460M
YoY Change 81.64% -75.99% 836.63%
NET CHANGE
Cash From Operating Activities -50.61M -15.04M -18.47M
Cash From Investing Activities 12.78M 15.96M 3.510M
Cash From Financing Activities 28.57M 6.150M 9.460M
Net Change In Cash -9.261M 7.070M -5.500M
YoY Change 559.62% -51.04% 144.44%
FREE CASH FLOW
Cash From Operating Activities -$50.61M -$15.04M -$18.47M
Capital Expenditures $0.00 -$20.00K $0.00
Free Cash Flow -$50.61M -$15.02M -$18.47M
YoY Change -26.35% 18.45% 82.15%

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Syndax Pharmaceuticals, Inc. (&#8220;the Company&#8221;) is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. The Company is developing its lead product candidate, entinostat, a once-weekly, oral, small molecule, Class I HDAC inhibitor, in combination with exemestane and several approved PD-1/PD-L1 antagonists. The Company&#8217;s pipeline also includes SNDX-6352, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor, as well as SNDX-5613, a selective inhibitor targeting the binding interaction of menin with the mixed lineage leukemia (&#8220;MLL&#8221;) protein. The Company plans to continue to leverage the technical and business expertise of its management team and scientific collaborators to license, acquire and develop additional cancer therapies to expand its pipeline.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s long-term success is dependent upon its ability to successfully develop and market its product candidates, 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 any of its product candidates is approved, if ever, and the Company begins to generate revenue from sales of such product candidates. Accordingly, management expects to incur substantial losses on the ongoing development of its product candidates 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;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s management believes that the cash, cash equivalents and short-term investments balances as of December&#160;31, 2019, in combination with the net proceeds of its January 2020 equity financing and February 2020 debt financing (see Note 19), should enable the Company to maintain its planned operations for at least twelve&#160;months from the date these financial statements were issued. The Company&#8217;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>
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<p style="margin-bottom:0pt;margin-top:6pt;margin-left:5.22%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of 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 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&#8217;s actual results may differ from these estimates under different assumptions or conditions. </p>
CY2019 us-gaap Concentration Risk Credit Risk
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<p style="margin-bottom:0pt;margin-top:12pt;margin-left:5.24%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash and cash equivalents, restricted cash, and short-term and long-term investments are financial instruments that potentially subject the Company to concentrations of credit risk. Substantially all of the Company&#8217;s cash, cash equivalents, and short-term investments were deposited in accounts at two financial institutions, and at times, such deposits may exceed federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company&#8217;s available-for-sale investments primarily consist of government money market funds, corporate debt securities, commercial paper, credit card asset-backed securities and overnight deposits and potentially subject the Company to concentrations of credit risk. </p>
CY2019 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:5.22%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Guarantees and Indemnifications </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As permitted under Delaware law, the Company indemnifies its officers, directors, and employees for certain events or occurrences that happen by reason of the relationship with, or position held at, the Company. The Company has standard indemnification arrangements under office leases (as described in Note 14) that require it to indemnify the landlord against all costs, expenses, fines, suits, claims, demands, liabilities, and actions directly resulting from any breach, violation, or nonperformance of any covenant or condition of the Company&#8217;s lease. Through December&#160;31, 2019, the Company had not experienced any losses related to these indemnification obligations and no claims were outstanding. The Company does not expect significant claims related to these indemnification obligations, and consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established. </p>
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
141000
CY2019Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
9000
CY2018Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
14000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
591000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
608000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
310000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
235000
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
36336000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
51666000
CY2019 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1300000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1300000
CY2019 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019 us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
897000
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.14
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
447000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
566000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
569000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
585000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
588000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
394000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
395000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
59000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
59000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1038000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1611000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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5000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
27000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
36336000
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AvailableForSaleSecuritiesDebtSecurities
51641000
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DepositsAssetsCurrent
1297000
CY2018Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
663000
CY2019Q4 us-gaap Supplies
Supplies
166000
CY2018Q4 us-gaap Supplies
Supplies
101000
CY2019Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
116000
CY2018Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
253000
CY2019Q4 sndx Reimbursable Costs
ReimbursableCosts
416000
CY2018Q4 sndx Reimbursable Costs
ReimbursableCosts
797000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.99
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25857
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PrepaidInsurance
214000
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PrepaidInsurance
188000
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OtherPrepaidExpenseCurrent
347000
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
332000
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AccruedProfessionalFeesCurrent
403000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
484000
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EmployeeRelatedLiabilitiesCurrent
2800000
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EmployeeRelatedLiabilitiesCurrent
2804000
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6726000
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9726000
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OtherAccruedLiabilitiesCurrent
266000
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OtherAccruedLiabilitiesCurrent
135000
CY2019Q1 sndx Number Of Series Of Warrants
NumberOfSeriesOfWarrants
2
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GrossProceedsFromOffering
27600000
CY2019Q1 sndx Offering Cost
OfferingCost
200000
CY2019Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P1Y4M24D
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P5Y11M19D
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P5Y10M24D
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0.7628
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7386
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0229
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0269
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0202
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1964025
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
134140
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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6057011
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3620626
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CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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8.50
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.93
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M12D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M6D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M6D
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
66000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
6306000
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3114000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5373000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.81
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.17
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100000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
200000
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
119000
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
126000
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
106000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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7850
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
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46680
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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9000
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16410000
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DeferredTaxAssetsOperatingLossCarryforwards
12684000
CY2019Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
4156000
CY2018Q4 us-gaap Deferred Tax Assets In Process Research And Development
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3443000
CY2019Q4 sndx Deferred Tax Assets Capitalized Start Up And Costs Research And Development Costs Net
DeferredTaxAssetsCapitalizedStartUpAndCostsResearchAndDevelopmentCostsNet
55452000
CY2018Q4 sndx Deferred Tax Assets Capitalized Start Up And Costs Research And Development Costs Net
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3334000
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DeferredTaxAssetsDeferredIncome
3690000
CY2019Q4 sndx Deferred Tax Liabilities Depreciation And Amortization Of Capitalized Cost
DeferredTaxLiabilitiesDepreciationAndAmortizationOfCapitalizedCost
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CY2018Q4 sndx Deferred Tax Liabilities Depreciation And Amortization Of Capitalized Cost
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11550000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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630000
CY2019Q4 us-gaap Deferred Tax Assets Other
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CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
17200000
CY2019 us-gaap Valuation Allowance Methodologies And Assumptions
ValuationAllowanceMethodologiesAndAssumptions
The Company has provided a valuation allowance for the full amount of the net deferred tax assets as the realization of the deferred tax assets is not determined to be more likely than not. The valuation allowance increased by $12.8 million and $17.2 million in 2019 and 2018, respectively, due to the increase in deferred tax assets, primarily due to net operating loss carryforwards and capitalized research and development costs.
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
68000000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
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CY2019 sndx Deferred Tax Assets Operating Loss Carryforwards Expiration Period
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163000
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CY2019Q4 us-gaap Unrecognized Tax Benefits
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RevenueFromContractWithCustomerExcludingAssessedTax
379000
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RevenueFromContractWithCustomerExcludingAssessedTax
379000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
379000
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
380000
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CY2019Q4 us-gaap Type Of Revenue Extensible List
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31640484
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RevenueFromContractWithCustomerExcludingAssessedTax
379000
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379000
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RevenueFromContractWithCustomerExcludingAssessedTax
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CY2018Q3 us-gaap Research And Development Expense
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CY2018Q4 us-gaap Research And Development Expense
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CY2018Q1 us-gaap General And Administrative Expense
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4791000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4479000
CY2018Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4125000
CY2018Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3892000
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
20130000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
19330000
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
18220000
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
19713000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-19751000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-18951000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-17841000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-19333000
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
353000
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
563000
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
503000
CY2018Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
496000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-19398000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-18388000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-17338000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-18837000
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.79
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.74
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.68
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.70
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24478269
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
24705441
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25471587
CY2018Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26804089

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