Stock Track | Syndax Pharmaceuticals Plummets 6.38% Intraday Following Q1 Revenue Miss

Stock Track

May 01

Shares of Syndax Pharmaceuticals (SNDX) plummeted 6.38% during intraday trading on Friday, as the market reacted to the company's latest quarterly earnings report.

The biopharmaceutical company reported first-quarter results that showed a narrowed loss but fell short of revenue expectations. While Syndax posted a loss of $0.48 per diluted share, an improvement from a loss of $0.98 a year earlier and better than the $0.61 loss forecast by analysts, revenue of $64.9 million missed the consensus estimate of $69.8 million. This revenue shortfall appears to be the primary driver behind the stock's significant decline.

The negative price movement occurred despite recent positive analyst sentiment, including a reiterated Buy rating from Bank of America Securities and the company being highlighted as a top pick in the healthcare sector by other analysts.

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