Syndax Pharmaceuticals, Inc.: R&D Day Highlights New Emerging Pipeline Opportunities

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Syndax Pharmaceuticals, Inc.: R&D Day Highlights New Emerging Pipeline Opportunities

Equity Research

U.S. Small & Mid Cap Biotechnology

15 July 2026

Syndax Pharmaceuticals, Inc.

R&D Day Highlights New Emerging

Pipeline Opportunities

R&D Day highlighted menin inhibitor expansion into SNDX OVERWEIGHT

POSITIVEmyelofibrosis, upcoming 4Q26 axatilimab data in IPF and U.S.BiotechnologySmall & Mid Cap

frontline cGVHD, and the newly in-licensed allosteric EGFR Price Target USD 37.00

inhibitor SNDX-4321 in NSCLC. Price (14-Jul-26) USD 24.13 Potential Upside/Downside +53.3%

Source: Bloomberg, Barclays Research

Our key takeaways from Syndax's R&D day:

Overall, SNDX’s R&D Day featured a broad growth strategy beyond the initial Revuforj/

Etzer Darout, PhD, MBA

Niktimvo launches, with the company highlighting five opportunity areas across acute +1 212 526 6940

leukemia, cGVHD, IPF, MF, and EGFRm NSCLC. We view the event as supportive of the etzer.darout@barclays.com

company’s longer‑term growth framework, with management providing greater visibility BCI, US

on how existing expertise in menin and CSF‑1R inhibition could be leveraged beyond acute

Gustave Diep, MD

leukemia and cGVHD. While much of the discussion focused on preclinical and early clinical +1 212 526 0347

opportunities, the presentation clarified development paths, timelines, and key decision gustave.diep@barclays.com

points across MF, IPF, and EGFRm NSCLC. We continue to view 4Q26 axatilimab data in IPF BCI, US

and frontline cGVHD as the key upcoming catalysts, while MF and EGFR programs

Lukas Shumway, PhD

represent longer‑term opportunities that will require clinical validation. +1 212 526 7293

lukas.shumway@barclays.com

CSF‑1R / Niktimvo — 4Q26 IPF and frontline cGVHD readouts remain the most BCI, US