Cancer Drug Maker With $172 Million Revenue and Multiple Approved Therapies Draws $6.5 Million Investment

2026-03-13 14:58:46

On February 17, 2026, Sphera Funds Management Ltd. disclosed a purchase of 374,847 shares of Syndax Pharmaceuticals (SNDX 1.84%), an estimated $6.54 million trade based on quarterly average pricing.

What happened

According to its SEC filing dated February 17, 2026, Sphera Funds Management Ltd. bought 374,847 additional shares of Syndax Pharmaceuticals, bringing its total to 762,563 shares. The estimated value of the shares acquired in the fourth quarter was $6.54 million, based on the period’s average closing price. The quarter-end value of the position increased by $10.06 million, a figure that includes both new purchases and changes in the stock price.

What else to know

The buy increased Syndax Pharmaceuticals to about 3% of Sphera Funds Management Ltd.'s 13F reportable assets under management.
Top holdings after the filing:
- NYSE:TEVA: $35.07 million (7.4% of AUM)
- NASDAQ:BIIB: $16.67 million (3.5% of AUM)
- NASDAQ:MLYS: $16.29 million (3.4% of AUM)
- NASDAQ:SNDX: $16.02 million (3.4% of AUM)
- NASDAQ:NVMI: $15.71 million (3.3% of AUM)
As of Friday, shares were priced at $23.99, up 83% over the past year and well outperforming the S&P 500’s roughly 20% gain in the same period.

Company overview

Metric	Value
Price (as of Thursday)	$23.99
Market Capitalization	$2.1 billion
Revenue (TTM)	$172.4 million
Net Income (TTM)	($285.4 million)

Company snapshot

Syndax Pharmaceuticals develops oncology therapeutics, including SNDX-5613 for acute myeloid leukemia and axatilimab for chronic graft versus host disease.
It targets healthcare providers, research institutions, and pharmaceutical partners focused on cancer and immunology treatments.

Syndax Pharmaceuticals, Inc. is a biotechnology company specializing in the development of therapies for cancer. The company’s strategy centers on the commercialization of drugs, advancing its lead candidates through clinical trials, and forming strategic collaborations to accelerate commercialization.

What this transaction means for investors

Commercial traction is one of the clearest signals that a biotech company may be transitioning from a speculative clinical story into a real operating business, and that shift is showing up at Syndax Pharmaceuticals.

The company now has two approved therapies contributing to revenue growth. Revuforj, its first-in-class menin inhibitor for certain acute leukemia patients, generated $44.2 million in fourth-quarter net revenue (up 38% sequentially) and $124.8 million for the full year as adoption accelerated following its FDA approval. Meanwhile, Niktimvo, a treatment for chronic graft-versus-host disease developed with Incyte, delivered $151.6 million in full-year net sales across the collaboration.

Combined, those launches helped drive total revenue to $172.4 million in 2025, marking a sharp step up from the early commercialization phase the company was in only a year earlier, when it posted $23.7 million in revenue. Shares have surged more than 80% thanks to the commercial momentum, including close to 15% this year alone.

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