HIGHBuilt-in & outside partyProduct / Revenue mix
Revuforj and Niktimvo
“10-K Item 1A: 'Our business depends heavily on our ability to successfully commercialize Revuforj and Niktimvo in the United States'”
SNDX · Concentration risk · 10-K extracted
Syndax Pharmaceuticals (SNDX) concentration risks
Updated
The most significant concentration Syndax Pharmaceuticals discloses is Revuforj and Niktimvo, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Syndax Pharmaceuticals’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
third-party contract manufacturers
“10-K Item 1A: 'We currently rely...on third-party contract manufacturers as well as Incyte for all of our required raw materials, active pharmaceutical ingredients and finished product'”
MEDIUMOutside partyCounterparty
Incyte
“10-K Item 1A: 'We are dependent upon our collaboration with Incyte to further develop and commercialize axatilimab'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile combines a product dependency, a manufacturing dependency, and a collaboration dependency, all at high or moderate share — reflecting the concentrated risk profile typical of a commercial-stage specialty pharmaceutical company. The business depends heavily on the ability to successfully commercialize Revuforj and Niktimvo in the United States, a high-share product exposure with a mixed character. The two approved products are the company's sole commercial assets, meaning their adoption curves, pricing sustainability, reimbursement coverage, and competitive dynamics determine substantially all of the company's near-term financial trajectory. The manufacturing dependency is equally high-share: the company currently relies on third-party contract manufacturers as well as Incyte for all required raw materials, active pharmaceutical ingredients, and finished product. There is no proprietary manufacturing capacity, making the supply chain for both commercial products dependent on third-party execution, which creates exposure to production quality issues, capacity constraints, or the financial health of individual manufacturers. Incyte also appears as a separate collaboration dependency of moderate share: the company relies on its collaboration with Incyte to further develop and commercialize axatilimab, a dependency-character relationship that affects the pipeline and potentially the commercial support for the axatilimab program. Because Incyte is also a manufacturing partner, the total exposure to that single counterparty spans both commercial-stage manufacturing and pipeline co-development. Together, the product, manufacturing, and collaboration exposures create a profile where multiple high-priority variables are simultaneously dependent on Incyte's performance and a small number of contract manufacturers — a concentrated counterparty set for the stage of the business.
For the engine’s reasoning on SNDX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| SNDX● | Syndax Pharmaceuticals, Inc. | 2 | 1 | 0 | 3 |
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.