7Baggers

Syndax Pharmaceuticals, Inc
(NASDAQ:SNDX) 

SNDX stock logo

Syndax Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of Menin with the mixed lineage leukemia 1 protein for the treat...

Founded: 2005
Full Time Employees: 35
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
Bull Thesis:
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Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 
                                            
      revenue:
    		                                        
      product revenue
    		20,162,250 32,007,000 28,600,000 20,042,000                                     
      collaboration revenue
    		19,392,000 13,864,000 9,358,000                                      
      milestone and license revenue
    		    4,000,000 12,500,000 3,500,000                                  
      total revenues
    		25,906,000 45,871,000 37,958,000 20,042,000 4,000,000 12,500,000 3,500,000          126,576,000 12,375,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 1,193,000 305,000 305,000 305,000 305,000 305,000 305,000 305,000 
      yoy
    		547.65% 266.97% 984.51%           NaN% NaN% NaN% 33297.36% 3165.17% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -68.23% 24.26% 24.26% 24.26% 291.15% 0.00% 0.00% 0.00%     
      qoq
    		-43.52% 20.85% 89.39% 401.05% -68.00% 257.14%        NaN% NaN% NaN% 922.84% 3165.17% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -68.23% 291.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%  
      operating expenses:
    		                                        
      cost of product sales
    		2,706,000 2,100,000 1,279,000 885,000                                     
      research and development
    		78,641,000 56,280,000 62,227,000 61,636,000 65,529,000 70,971,000 48,655,000 56,492,000 55,126,000 39,087,000 34,764,000 34,054,000 31,841,000 26,901,000 29,734,000 30,022,000 23,900,000 25,606,000 16,871,000 21,870,000 15,522,000 14,408,000 10,943,000 9,562,000 9,502,000 9,923,000 12,290,000 11,279,000 15,820,000 14,095,000 14,851,000 15,339,000 16,598,000 12,188,000 9,862,000 9,552,000 8,474,000 12,274,000 6,131,000 4,786,000 
      selling, general and administrative
    		49,929,000 44,917,000 43,805,000 41,031,000 37,690,000 31,106,000 29,061,000 23,022,000                                 
      total operating expenses
    		131,276,000 103,297,000 107,311,000 103,799,000 104,045,000 102,077,000 77,716,000 79,514,000 77,905,000 56,355,000 49,678,000 46,015,000 42,033,000 35,141,000 37,724,000 36,858,000 30,827,000 32,407,000 22,713,000 27,542,000 20,240,000 20,232,000 16,989,000 15,479,000 14,584,000 13,528,000 15,753,000 15,190,000 19,712,000 18,220,000 19,330,000 20,130,000 20,682,000 15,751,000 14,147,000 13,482,000 11,446,000 15,543,000 8,939,000 9,058,000 
      income from operations
    		-62,548,000 -57,426,000 -69,353,000 -83,757,000 -96,365,000 -89,577,000 -74,216,000 -79,514,000 -77,905,000 -56,355,000 -49,678,000 -46,015,000 -42,033,000 -35,141,000 -37,724,000 -36,858,000 95,749,000 -20,032,000 -22,334,000 -27,163,000 -19,861,000 -19,853,000 -16,610,000 -15,100,000 -14,205,000 -13,149,000 -15,374,000 -14,811,000 -19,333,000 -17,841,000 -18,951,000 -19,751,000 -19,489,000 -15,446,000 -13,842,000 -13,177,000 -11,141,000 -15,238,000 -8,634,000 -8,753,000 
      yoy
    		-35.09% -35.89% -6.55% 5.34% 23.70% 58.95% 49.39% 72.80% 85.34% 60.37% 31.69% 24.84% -143.90% 75.42% 68.91% 35.69% -582.10% 0.90% 34.46% 79.89% 39.82% 50.98% 8.04% 1.95% -26.52% -26.30% -18.87% -25.01% -0.80% 15.51% 36.91% 49.89% 74.93% 1.37% 60.32% 50.54%     
      qoq
    		8.92% -17.20% -17.20% -13.08% 7.58% 20.70% -6.66% 2.07% 38.24% 13.44% 7.96% 9.47% 19.61% -6.85% 2.35% -138.49% -577.98% -10.31% -17.78% 36.77% 0.04% 19.52% 10.00% 6.30% 8.03% -14.47% 3.80% -23.39% 8.36% -5.86% -4.05% 1.34% 26.18% 11.59% 5.05% 18.27% -26.89% 76.49% -1.36%  
      operating margin %
    		-241.44% -125.19% -182.71% -417.91% -2409.13% -716.62% -2120.46% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% NaN% NaN% 75.65% -161.87% -5892.88% -7167.02% -5240.37% -5238.26% -4382.59% -3984.17% -3748.02% -3469.39% -4056.46% -3907.92% -5101.06% -4707.39% -5000.26% -5211.35% -1633.61% -5064.26% -4538.36% -4320.33% -3652.79% -4996.07% -2830.82% -2869.84% 
      other income, net:
    		                                        
      royalty interest expense
    		-9,593,000 -8,283,000 -7,854,000 -8,049,000                                     
      other interest expense
    		-1,500  -4,000 -2,000                                     
      interest income
    		4,328,000 5,269,000 5,950,000 7,183,000 7,108,000 5,442,000 6,284,000 7,256,000 5,550,000 5,345,000 5,191,000 5,076,000 2,988,000 1,781,000 878,000 224,000 91,000 83,000 108,000 120,000 106,000 177,000 225,000 333,000 222,000 395,000 501,000 452,000 520,000 488,000 459,000 475,000 462,000 411,000 290,000 259,000 268,000 268,000 276,000 144,000 
      other income
    		-270,500 -275,000   -35,250 32,000     -93,000 -147,000 -52,500 -295,000 -31,000 116,000   -50,000 -57,000   -39,000 -20,000 -17,000 -75,000 -43,000 57,000 -24,000 15,000 104,000 -122,000 -76,000 -53,000   58,000 1,000   
      total other income
    		-5,466,000 -3,289,000 -2,494,000 -1,089,000 2,196,000 5,451,000 6,153,000 7,114,000 5,432,000 5,209,000 5,063,000 4,889,000 2,839,000 -262,000 152,000  449,000 -607,000 -576,000 -560,000 -562,000 -584,000 -452,000 -136,000 205,000 320,000 458,000 509,000 496,000 503,000 563,000 353,000 386,000 358,000 203,000 206,000 326,000 269,000 276,000  
      net income
    		-68,014,000 -60,715,000 -71,847,000 -84,846,000 -94,169,000 -84,126,000 -68,063,000 -72,400,000 -72,473,000 -51,146,000 -44,615,000 -41,126,000 -39,194,000 -35,403,000 -37,572,000 -37,169,000 96,198,000 -20,639,000 -22,910,000 -27,723,000 -20,423,000 -20,437,000 -17,062,000 -15,236,000 -14,000,000 -12,829,000 -14,916,000 -14,302,000 -18,837,000 -17,338,000 -18,388,000 -19,398,000 -19,103,000 -15,088,000 -13,639,000 -12,971,000 -10,815,000 -14,969,000 -8,358,000 -10,330,000 
      yoy
    		-27.77% -27.83% 5.56% 17.19% 29.94% 64.48% 52.56% 76.04% 84.91% 44.47% 18.75% 10.65% -140.74% 71.53% 64.00% 34.07% -571.03% 0.99% 34.27% 81.96% 45.88% 59.30% 14.39% 6.53% -25.68% -26.01% -18.88% -26.27% -1.39% 14.91% 34.82% 49.55% 76.63% 0.79% 63.18% 25.57%     
      qoq
    		12.02% -15.49% -15.32% -9.90% 11.94% 23.60% -5.99% -0.10% 41.70% 14.64% 8.48% 4.93% 10.71% -5.77% 1.08% -138.64% -566.10% -9.91% -17.36% 35.74% -0.07% 19.78% 11.98% 8.83% 9.13% -13.99% 4.29% -24.07% 8.65% -5.71% -5.21% 1.54% 26.61% 10.62% 5.15% 19.94% -27.75% 79.10% -19.09%  
      net income margin %
    		-262.54% -132.36% -189.28% -423.34% -2354.22% -673.01% -1944.66% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% NaN% NaN% 76.00% -166.78% -6044.85% -7314.78% -5388.65% -5392.35% -4501.85% -4020.05% -3693.93% -3384.96% -3935.62% -3773.61% -4970.18% -4574.67% -4851.72% -5118.21% -1601.26% -4946.89% -4471.80% -4252.79% -3545.90% -4907.87% -2740.33% -3386.89% 
      other comprehensive loss:
    		                                        
      unrealized gain on marketable securities
    		90,500 240,000   92,750 1,188,000 -61,000 -974,000 87,750 119,000 -238,000 470,000 -412,500 -270,000 -695,000 -685,000 3,750 -6,000 8,000 13,000 13,250 -64,000 69,000 48,000 12,500 -33,000 50,000 33,000 27,000 54,000           
      other comprehensive loss
    		-54,261,500 -60,475,000                                       
      net income per share
    		    -0.658 -0.98 -0.8 -0.85 -0.493 -0.73 -0.64 -0.59 -0.46 -0.58 -0.62 -0.63 -0.345 -0.4 -0.44 -0.54 -0.44 -0.46 -0.42 -0.56 -0.44 -0.41 -0.47 -0.53 -0.71 -0.68 -0.74 -0.79 -0.82 -0.68 -0.7 -0.71 -0.52 -0.84 -0.47 -2.85 
      basic and diluted loss per share attributable to common stockholders
    		-0.628 -0.7                                       
      weighted-average common shares used in calculating:
    		                                        
      other expense
    		  -586,000 -221,000   -86,000 -87,000 -76,500 -66,000       -37,250 -41,000   -46,500 -126,000             -87,000 -53,000    -18,000 
      net loss attributable to common stockholders
    		  -71,847,000 -84,846,000 -94,169,000 -84,126,000 -68,063,000 -72,400,000 -34,221,750 -51,146,000 -44,615,000 -41,126,000 -27,536,000 -35,403,000 -37,572,000 -37,169,000 -17,818,000 -20,639,000 -22,910,000 -27,723,000 -20,423,000 -20,437,000 -17,062,000 -19,142,000 -14,000,000 -12,829,000 -14,916,000 -14,302,000 -18,837,000 -17,338,000 -18,388,000 -19,398,000 -19,103,000 -15,088,000 -13,639,000 -12,971,000 -10,815,000 -14,969,000 -8,358,000 -12,928,000 
      basic loss per share attributable to common stockholders
    		  -0.83 -0.98                                     
      diluted loss per share attributable to common stockholders
    		  -0.83 -0.98                                     
      collaboration loss
    		   247,000                                     
      interest expense
    		    -4,806,000 -23,000 -45,000 -55,000 -63,000 -70,000 -35,000 -40,000 -43,000 -1,748,000 -695,000 -651,000 7,000 -649,000 -634,000 -623,000 -635,000 -635,000 -638,000 -449,000                 
      comprehensive loss
    		    -56,054,500 -82,938,000 -68,124,000 -73,374,000 -34,134,000 -51,027,000 -44,853,000 -40,656,000 -27,948,500 -35,673,000 -38,267,000 -37,854,000 -17,814,250 -20,645,000 -22,902,000 -27,710,000 -13,170,500 -20,501,000 -16,993,000 -15,188,000 -10,499,250 -12,862,000 -14,866,000 -14,269,000 -13,754,000 -17,284,000 -18,259,000 -19,473,000 -10,431,750 -15,096,000 -13,601,000 -13,029,000   -8,394,000 -10,130,000 
      weighted-average number of common shares used to compute net loss per share attributable to common stockholders —basic and diluted
    		     85,433,569 85,274,829 85,213,200  69,855,766 69,638,427 69,438,890  60,670,294 60,156,653 58,978,615  51,962,320 51,603,286 51,499,831  44,156,808 40,609,205 34,328,640  31,630,639 31,605,279 27,023,466  25,471,587 24,705,441          
      general and administrative
    		        11,035,750 17,268,000 14,914,000 11,961,000 10,192,000 8,240,000 7,990,000 6,836,000 6,927,000 6,801,000 5,842,000 5,672,000 4,718,000 5,824,000 6,046,000 5,917,000 5,082,000 3,605,000 3,463,000 3,911,000 3,892,000 4,125,000 4,479,000 4,791,000 4,084,000 3,563,000 4,285,000 3,930,000 2,972,000 3,269,000 2,808,000 4,272,000 
      license fees
    		                126,576,000 12,375,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 379,000 1,193,000 305,000 305,000 305,000 305,000 305,000 305,000 305,000 
      other income:
    		                                        
      other expense, net:
    		                                        
      total other expense
    		               -311,000                        -1,577,000 
      other comprehensive income:
    		                                        
      unrealized gains on marketable securities
    		                              129,000 -75,000 -7,000 -8,000 38,000 -58,000   -36,000 200,000 
      weighted-average number of common shares used to compute net loss per share attributable to common stockholders—basic and diluted
    		                               24,478,269  22,239,996 19,497,581 18,231,602  17,899,481 17,769,514 4,541,536 
      change in fair value of common stock warrant liability
    		                                       -1,703,000 
      other expense:
    		                                        
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 
                                              
        assets
      		                                        
        current assets:
      		                                        
        cash and cash equivalents
      		134,930,000 116,808,000 108,636,000 153,993,000 154,083,000 133,019,000 105,396,000 114,615,000 295,394,000 94,550,000 97,275,000 57,517,000 74,356,000 71,377,000 120,239,000 188,773,000 221,965,000 71,433,000 68,041,000 64,386,000 115,243,000 56,356,000 53,611,000 44,629,000 24,609,000 30,581,000 26,666,000 58,116,000 33,769,000 26,705,000 32,204,000 27,981,000 35,168,000 20,732,000 22,988,000 22,356,000 23,844,000 12,753,000 14,441,000 23,187,000 
        short-term investments
      		259,140,000 319,171,000 346,597,000 358,204,000 418,801,000 256,588,000 319,701,000 319,963,000 275,304,000 269,006,000 301,526,000 374,876,000 401,446,000 266,461,000 246,552,000 209,157,000 217,971,000 158,281,000 185,091,000 206,949,000 177,822,000 113,803,000 133,142,000 54,376,000 35,166,000 41,657,000 53,854,000 34,626,000 47,142,000 62,894,000 66,181,000 85,242,000 94,806,000 99,862,000 106,967,000 70,429,000 81,486,000 102,814,000 111,016,000 110,483,000 
        accounts receivable
      		37,996,000 25,403,000 19,454,000 15,722,000 7,602,000                                    
        inventory
      		32,754,000 25,000,000 17,696,000 4,664,000 366,000                                    
        short-term deposits
      		19,616,000 18,195,000 13,473,000 4,116,000 10,029,000 16,788,000 7,170,000 8,583,000 6,885,000 10,265,000 7,223,000 5,812,000 8,595,000 12,870,000 9,887,000 12,979,000                         
        other receivables
      		6,404,000    3,635,000                                    
        collaboration receivable
      		23,745,000 15,736,000 12,316,000       3,407,000  1,393,000 3,474,000 4,539,000 13,102,000                          
        prepaid expenses and other current assets
      		13,496,000 9,517,000 9,875,000 8,462,000 8,541,000 4,907,000 4,207,000 4,665,000 3,293,000 3,746,000 3,056,000 1,913,000 1,915,000 2,269,000 2,392,000 9,032,000 8,345,000 8,423,000 9,308,000 7,612,000 5,684,000 7,158,000 4,939,000 5,086,000 2,556,000 2,511,000 5,154,000 4,790,000 2,334,000 6,146,000 6,210,000 5,983,000 3,362,000 3,277,000 4,111,000 4,170,000 3,029,000 1,546,000 1,868,000 2,045,000 
        total current assets
      		528,081,000 529,830,000 531,676,000 548,751,000 603,057,000 414,809,000 446,056,000 453,899,000 580,876,000 380,974,000 409,080,000 441,511,000 489,786,000 357,631,000 392,287,000 420,056,000 448,396,000 238,252,000 262,555,000 278,947,000 298,864,000 177,432,000 191,807,000 104,206,000 62,331,000 74,850,000 85,775,000 97,633,000 83,346,000 95,846,000 104,696,000 119,306,000 133,442,000 123,971,000 134,167,000 97,057,000 108,510,000 117,267,000 127,379,000 135,767,000 
        long-term investments
      		 20,146,000 62,627,000 89,938,000 119,520,000 10,029,000 29,516,000 87,416,000 29,829,000 15,705,000 19,483,000 16,561,000 5,469,000  12,125,000                  3,246,000        
        property and equipment
      		181,000 128,000     2,000 5,000 8,000 10,000 13,000 17,000 20,000 23,000 256,000 266,000 278,000 158,000 166,000 176,000 192,000 214,000 237,000 259,000 281,000 304,000 327,000 350,000 373,000 396,000 415,000 422,000 267,000 286,000 260,000 234,000 260,000 283,000 304,000 275,000 
        right-of-use asset
      		1,342,000 1,471,000 1,629,000 1,801,000 2,022,000 756,000 1,000,000 1,243,000 1,487,000 1,731,000 1,968,000 929,000 1,039,000 1,152,000 774,000 873,000 983,000 1,093,000 338,000 434,000 290,000 396,000 502,000 608,000 716,000 826,000 1,087,000 1,208,000             
        restricted cash
      		102,000 217,000 217,000 217,000 217,000 217,000 217,000 217,000 217,000 217,000 217,000 115,000  115,000 115,000 115,000 115,000 115,000 115,000  115,000 115,000 115,000 115,000  101,000 101,000 101,000 101,000 101,000 101,000 100,000 106,000 100,000 101,000 102,000 151,000 154,000 54,000 52,000 
        total assets
      		529,706,000 551,792,000 596,149,000 640,707,000 724,816,000 425,811,000 476,947,000 543,028,000 612,880,000 399,224,000 431,340,000 459,826,000 497,236,000 359,687,000 406,437,000 422,222,000 449,657,000 239,503,000 263,059,000 279,672,000 300,613,000 179,309,000 192,628,000 105,155,000 63,525,000 76,381,000 87,390,000 99,392,000 83,938,000 96,467,000 105,370,000 119,957,000 137,186,000 124,493,000 134,666,000 97,667,000 109,013,000 117,729,000 127,856,000 136,259,000 
        liabilities and stockholders' equity
      		                                        
        current liabilities:
      		                                        
        accounts payable
      		16,580,000 13,826,000 17,353,000 10,047,000 11,626,000 4,898,000 11,568,000 8,809,000 9,961,000 6,049,000 10,978,000 8,057,000 4,350,000 7,115,000 6,438,000 8,231,000 5,669,000 5,122,000 3,624,000 6,529,000 3,508,000 3,836,000 1,832,000 8,998,000 6,178,000 6,757,000 2,276,000 4,350,000 1,439,000 3,180,000 5,297,000 2,590,000 2,232,000 2,246,000 3,362,000 2,741,000 2,375,000 2,010,000 1,588,000 2,225,000 
        collaboration payable
      		   12,187,000 19,231,000 5,506,000 3,102,000 7,547,000 7,232,000  493,000                              
        accrued expenses and other current liabilities
      		103,064,000 77,105,000 71,066,000 55,981,000 59,789,000 48,121,000 26,809,000 33,395,000 39,856,000 32,119,000 17,729,000 15,205,000 24,276,000 13,213,000 16,974,000 18,421,000 14,466,000 13,732,000 11,724,000 11,414,000 11,246,000 9,431,000 8,691,000 7,795,000 10,195,000 9,542,000 13,168,000 9,266,000 13,149,000 12,319,000 12,484,000 12,800,000 11,993,000 10,741,000 6,923,000 7,028,000 6,771,000 5,917,000 3,745,000 3,590,000 
        current portion of royalty interest financing
      		                                        
        current portion of right-of-use liability
      		470,000 329,000 344,000 377,000 471,000 842,000 981,000 1,042,000 1,035,000 995,000 957,000 454,000 434,000 471,000 299,000 331,000 361,000 369,000 397,000 476,000 316,000 373,000 427,000 480,000 478,000 478,000 530,000 525,000             
        current portion of capital lease
      		2,000 2,000 6,000 7,000 9,000 10,000 12,000 12,000 12,000 11,000 11,000 5,000 5,000 4,000 2,000                          
        total current liabilities
      		120,116,000 114,187,000 112,987,000 94,551,000 103,549,000 59,377,000 42,472,000 50,805,000 58,096,000 39,174,000 30,168,000 23,721,000 29,065,000 20,803,000 30,925,000 30,551,000 20,683,000 28,712,000 24,292,000 24,568,000 18,872,000 15,157,000 12,467,000 18,790,000 18,368,000 18,294,000 17,491,000 15,658,000 16,105,000 17,016,000 19,298,000 16,907,000 15,798,000 14,207,000 11,505,000 10,989,000 10,366,000 9,147,000 6,553,000 7,035,000 
        long-term liabilities:
      		                                        
        royalty interest financing, less current portion
      		343,909,000                                        
        right-of-use liability, less current portion
      		1,051,000 1,190,000 1,325,000 1,453,000 1,578,000  133,000 327,000 578,000 851,000 1,115,000 588,000 709,000 768,000 570,000 643,000 711,000 798,000 22,000 60,000 101,000 172,000 240,000 306,000 419,000 525,000 725,000 830,000             
        total long-term liabilities
      		344,960,000 322,175,000 325,738,000 331,097,000 333,143,000 2,000 137,000 334,000 588,000 864,000 1,131,000 600,000 722,000 782,000 13,572,000 17,122,000 20,606,000 11,787,000 24,204,000 26,899,000 29,553,000 32,175,000 32,514,000 32,856,000 13,557,000 14,044,000 14,624,000 15,108,000 14,786,000 15,177,000 15,720,000 16,100,000 17,069,000 13,572,000 13,824,000 14,063,000 14,508,000 14,748,000 15,062,000 15,378,000 
        total liabilities
      		465,076,000 436,362,000 438,725,000 425,648,000 436,692,000 59,379,000 42,609,000 51,139,000 58,684,000 40,038,000 31,299,000 24,321,000 29,787,000 21,585,000 44,497,000 47,673,000 41,289,000 40,499,000 48,496,000 51,467,000 48,425,000 47,332,000 44,981,000 51,646,000 31,925,000 32,338,000 32,115,000 30,766,000 30,891,000 32,193,000 35,018,000 33,007,000 32,867,000 27,779,000 25,329,000 25,052,000 24,874,000 23,895,000 21,615,000 22,413,000 
        commitments and contingencies
      		                                        
        stockholders' equity:
      		                                        
        preferred stock, 0.001 par value...
      		                                        
        common stock, 0.0001 par value...
      		9,000 9,000 9,000 9,000 9,000 9,000 9,000 8,000 8,000 7,000 7,000 7,000 7,000 6,000 6,000 6,000 6,000 5,000 5,000 5,000 5,000 4,000 4,000 3,000 3,000 3,000 3,000 3,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 
        additional paid-in capital
      		1,570,749,000 1,553,462,000 1,534,981,000 1,520,527,000 1,509,110,000 1,493,041,000 1,478,009,000 1,467,437,000 1,456,370,000 1,189,561,000 1,179,389,000 1,170,000,000 1,161,288,000 993,547,000 981,712,000 956,054,000 952,019,000 838,888,000 833,802,000 824,542,000 820,815,000 680,125,000 675,294,000 564,164,000 527,067,000 525,485,000 523,855,000 522,340,000 492,493,000 484,893,000 473,686,000 472,026,000 470,571,000 443,692,000 441,218,000 390,894,000 389,374,000 388,210,000 385,556,000 384,767,000 
        accumulated other comprehensive income
      		452,000    163,000    218,000    -806,000 -1,605,000    11,000 17,000 9,000  53,000 117,000 48,000  25,000 58,000 8,000     -143,000 28,000 36,000 -2,000 56,000 100,000 192,000 228,000 
        accumulated deficit
      		-1,506,580,000 -1,438,566,000 -1,377,851,000 -1,306,004,000 -1,221,158,000 -1,126,989,000 -1,042,863,000 -974,800,000 -902,400,000 -829,927,000 -778,781,000 -734,166,000 -693,040,000 -653,846,000 -618,443,000 -580,871,000 -543,702,000 -639,900,000 -619,261,000 -596,351,000 -568,628,000 -548,205,000 -527,768,000 -510,706,000 -495,470,000 -481,470,000 -468,641,000 -453,725,000 -439,423,000 -420,586,000 -403,247,000 -384,860,000 -366,111,000 -347,008,000 -331,919,000 -318,279,000 -305,293,000 -294,478,000 -279,509,000 -271,151,000 
        total stockholders' equity
      		64,630,000    288,124,000    554,196,000    467,449,000    408,368,000    252,188,000    31,600,000    53,047,000    104,319,000        
        total liabilities and stockholders' equity
      		529,706,000    724,816,000    612,880,000    497,236,000    449,657,000    300,613,000    63,525,000    83,938,000            
        other receivable
      		  3,629,000 3,590,000  3,507,000 9,582,000 6,073,000                                 
        liabilities and stockholders’ equity
      		                                        
        current portion of royalty interest financing liability
      		 22,925,000 19,435,000 14,149,000                                     
        royalty interest financing liability, less current portion
      		 320,985,000 324,413,000 329,644,000                                     
        stockholders’ equity:
      		                                        
        accumulated other comprehensive gain
      		 525,000 285,000 527,000  371,000 -817,000 -756,000                                 
        total stockholders’ equity
      		 115,430,000 157,424,000 215,059,000  366,432,000 434,338,000 491,889,000  359,186,000 400,041,000 435,505,000  338,102,000 361,940,000 374,549,000  199,004,000 214,563,000 228,205,000  131,977,000 147,647,000 53,509,000  44,043,000 55,275,000 68,626,000  64,274,000 70,352,000 86,950,000  96,714,000 109,337,000 72,615,000 84,139,000 93,834,000 106,241,000 113,846,000 
        total liabilities and stockholders’ equity
      		 551,792,000 596,149,000 640,707,000  425,811,000 476,947,000 543,028,000  399,224,000 431,340,000 459,826,000  359,687,000 406,437,000 422,222,000  239,503,000 263,059,000 279,672,000  179,309,000 192,628,000 105,155,000  76,381,000 87,390,000 99,392,000  96,467,000 105,370,000 119,957,000  124,493,000 134,666,000 97,667,000     
        royalty payable
      		  4,783,000 1,803,000 307,000                                    
        other assets
      		      156,000 248,000 463,000 587,000 579,000 693,000 807,000 881,000 995,000 1,027,000    115,000 1,267,000 1,267,000 82,000 82,000 197,000 401,000 201,000 201,000 219,000 225,000 259,000 229,000 231,000 236,000 239,000 376,000 243,000 179,000 173,000 217,000 
        current portion of term loan payable
      		    12,116,000                                    
        term loan payable, less current portion
      		    331,565,000                                    
        capital lease, less current portion
      		     2,000 4,000 7,000 10,000 13,000 16,000 12,000 13,000 14,000 8,000                          
        accumulated other comprehensive loss
      		         -455,000 -574,000    -1,335,000 -640,000 45,000    -4,000        -25,000 -35,000 -89,000 -218,000         
        accumulated other comprehensive
      		           -336,000                             
        derivative liability
      		                187,000                        
        term loan, less current portion
      		              12,994,000 16,479,000 19,895,000 10,989,000 13,323,000  17,834,000                    
        current portion of term loan
      		              7,212,000 3,568,000  9,489,000 7,030,000 4,632,000 2,285,000                    
        commitments
      		                                        
        commitment and contingencies
      		                                        
        current portion of deferred revenue
      		                  1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,517,000 1,573,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 
        deferred revenue, less current portion
      		                  10,859,000 11,237,000 11,617,000 11,995,000 12,375,000 12,754,000 13,133,000 13,513,000 13,892,000 14,271,000 14,650,000 15,029,000 15,409,000 15,788,000 16,759,000 13,305,000 13,610,000 13,915,000 14,220,000 14,525,000 14,830,000 15,135,000 
        other long-term liabilities
      		                    1,000 2,000 3,000 4,000 5,000 6,000 7,000 7,000 136,000 148,000 311,000 312,000 310,000 267,000 214,000 148,000 288,000 223,000 232,000 243,000 
        commitments, contingencies and guarantees
      		                                        
        loan payable
      		                   15,602,000  20,006,000 19,896,000 19,792,000                 
        liabilities, convertible preferred stock and stockholders' equity
      		                                        
        total liabilities, convertible preferred stock and stockholders' equity
      		                                137,186,000        
        liabilities, convertible preferred stock and stockholders’ equity
      		                                        
        common stock warrant liability
      		                                        
        convertible preferred stock
      		                                        
        stockholders’ equity
      		                                        
        series a convertible preferred stock, 0.001 par value...
      		                                        
        total liabilities, convertible preferred stock and stockholders’ equity
      		                                    109,013,000 117,729,000 127,856,000 136,259,000 
                                              
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 
                                                
          cash flows from operating activities:
        		                                        
          net loss
        		-68,014,000 -60,715,000 -71,847,000 -84,846,000 -94,169,000 -84,126,000 -68,063,000 -72,400,000  -51,146,000 -44,615,000 -41,126,000  -35,403,000 -37,572,000 -37,169,000  -20,639,000 -22,910,000 -27,723,000 -20,423,000 -20,437,000 -17,062,000 -15,236,000 -14,000,000 -12,829,000 -14,916,000 -14,302,000 -18,837,000 -17,339,000 -18,387,000 -19,398,000 -19,103,000 -15,089,000 -13,639,000 -12,971,000 -10,815,000 -14,969,000 -8,358,000 -10,330,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                                        
          depreciation
        		3,000    0 2,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 8,000 11,000 11,000 10,000 8,000 9,000 16,000 21,000 23,000 22,000 23,000                 
          accretion of investments
        		-1,530,000 -2,413,000 -3,211,000 -3,599,000 -2,940,000 -3,058,000 -3,649,000 -3,821,000  -3,659,000 -3,718,000 -3,967,000                             
          non-cash operating lease expense
        		395,000 158,000 172,000 221,000 208,000 295,000 242,000 244,000 243,000 237,000 149,000 110,000 112,000 100,000 99,000 110,000 111,000 105,000 96,000 101,000 105,000 107,000 106,000 108,000                 
          stock-based compensation
        		11,254,000 12,082,000 13,787,000 10,380,000 12,297,000 11,934,000 9,896,000 8,899,000 8,327,000 8,321,000 8,065,000 6,238,000 4,241,000 4,362,000 3,938,000 3,478,000 3,929,000 3,381,000 3,240,000 2,767,000 2,035,000 3,063,000 2,130,000 1,829,000 1,525,000 1,550,000 1,338,000 1,592,000 1,472,000 1,737,000 1,571,000 1,421,000 1,280,000 1,345,000 1,448,000 1,377,000 947,000 792,000 779,000 2,190,000 
          amortization of debt issuance costs
        		-1,000 62,000 55,000 112,000                                     
          provision for credit losses
        		0                                        
          inventory reserves
        		                                        
          changes in operating assets and liabilities:
        		                                        
          accounts receivable
        		-12,593,000 -5,949,000 -3,732,000 -8,120,000                                     
          inventory
        		-7,801,000 -7,183,000 -12,916,000 -4,191,000                                     
          prepaid expenses and other current assets
        		                                        
          collaboration (payable) receivable
        		-8,009,000 -3,420,000 -24,503,000 -7,044,000  2,403,000                                   
          other receivable
        		-6,404,000 -38,000 -39,000 45,000 -128,000 6,075,000 -3,509,000 -6,073,000                                 
          other assets
        		    0                                    
          accounts payable
        		2,754,000 -3,527,000 7,306,000 -1,579,000 6,728,000 -6,670,000 2,759,000 -1,152,000 3,912,000 -4,930,000 2,922,000 3,707,000 -2,764,000 676,000 -1,793,000 2,562,000 547,000 1,498,000 -2,905,000 3,021,000 -328,000 2,004,000 -7,166,000 2,820,000 -454,000 4,355,000 -2,070,000 2,908,000 -1,740,000 -2,119,000 2,709,000 358,000 12,000 -1,006,000 434,000 366,000 365,000 612,000 349,000 -403,000 
          accrued expenses and other current liabilities
        		                                        
          net cash from operating activities
        		-69,488,000 -70,535,000 -87,795,000 -95,162,000 -57,388,000 -62,322,000 -71,645,000 -83,548,000 -41,349,000 -44,653,000 -35,371,000 -39,228,000 -22,894,000 -28,544,000 -40,306,000 -41,931,000 100,709,000 -24,944,000 -24,045,000 -22,589,000 -15,631,000 -18,297,000 -21,407,000 -15,925,000 -12,727,000 -8,529,000 -12,525,000 -16,831,000 -15,043,000 -18,469,000 -15,149,000 -19,870,000 -12,722,000 -10,181,000 -11,800,000 -12,668,000 -10,416,000 -11,448,000 -6,890,000 -6,403,000 
          capital expenditures
        		-56,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0  -14,000 0 0 -173,000 -42,000 0 0  0 -55,000 -73,000 -133,000 
          free cash flows
        		-69,544,000 -70,535,000 -87,795,000 -95,162,000 -57,388,000 -62,322,000 -71,645,000 -83,548,000 -41,349,000 -44,653,000 -35,371,000 -39,228,000 -22,894,000 -28,544,000 -40,306,000 -41,931,000 100,709,000 -24,944,000 -24,045,000 -22,589,000 -15,631,000 -18,297,000 -21,407,000 -15,925,000 -12,727,000 -8,529,000 -12,525,000  -15,057,000 -18,469,000 -15,149,000 -20,043,000 -12,764,000 -10,181,000 -11,800,000  -10,416,000 -11,503,000 -6,963,000 -6,536,000 
          cash flows from investing activities:
        		                                        
          purchases of property and equipment
        		-56,000                            -14,000 0 0 -173,000 -42,000    0 -55,000 -73,000 -133,000 
          purchases of short and long-term investments
        		-63,116,000 -30,440,000 -91,713,000 -10,538,000 -376,314,000 -13,353,000 0 -167,385,000 -129,290,000 -82,723,000 -81,008,000 -61,585,000                             
          proceeds from maturities of short-term investments
        		                                        
          net cash from investing activities
        		81,578,000 72,429,000 41,887,000 94,142,000 -268,973,000 86,847,000 61,750,000 -99,399,000 -16,290,000 40,077,000 73,907,000 19,915,000 -137,629,000 -6,793,000 -49,948,000 8,182,000   21,680,000 -29,228,000 -64,140,000 19,275,000 -78,612,000 -19,053,000 6,596,000 12,364,000 -18,931,000 12,752,000 15,962,000 3,508,000 19,284,000 12,644,000 1,544,000 6,921,000 -36,555,000 11,063,000 21,331,000 8,050,000 -624,000 -47,137,000 
          cash flows from financing activities:
        		                                        
          proceeds from issuance of common stock in follow on public offerings
        		                                        
          proceeds from issuance of common stock in at-the-market offering
        		                                        
          proceeds from purchase and sale agreement
        		                                        
          proceeds from espp
        		                                        
          proceeds from stock option exercises
        		5,312,000 6,358,000 83,000 385,000 3,139,000 2,563,000 439,000 1,859,000 112,000 1,592,000 1,146,000 2,278,000 1,396,000 7,363,000 2,235,000 465,000  1,606,000 825,000 881,000  1,707,000 1,015,000 338,000  27,000    0    7,000       
          net cash from financing activities
        		5,917,000 6,278,000 551,000 930,000 347,425,000 3,098,000 676,000 2,168,000 258,483,000 1,851,000 1,324,000 2,474,000 163,502,000 -13,525,000 21,720,000 557,000 109,779,000 1,705,000 6,020,000 960,000 138,658,000 1,767,000 109,001,000 54,998,000 58,000 80,000 6,000 28,426,000 6,145,000 9,462,000 89,000 33,000 25,614,000 1,004,000 48,987,000 117,000 176,000 1,710,000 -1,232,000 53,548,000 
          net increase in cash, cash equivalents and restricted cash
        		        200,844,000 -2,725,000       150,532,000 3,392,000 3,655,000 -50,857,000 58,887,000 2,745,000 8,982,000 20,020,000    24,347,000             
          cash, cash equivalents and restricted cash—beginning of year
        		                                        
          cash, cash equivalents and restricted cash—end of year
        		                                        
          supplemental schedule of cash flow information:
        		                                        
          cash paid for royalty interest financing
        		                                        
          issuance costs in accounts payable and accrued expenses
        		                                        
          lease assets recognized upon lease remeasurement
        		                                        
          prepaid expenses and other assets
        		 -4,364,000 -10,770,000 5,992,000  -10,677,000 1,964,000 -2,854,000 3,957,000 -3,740,000 -2,440,000 2,899,000 4,702,000 -2,744,000 9,761,000 -14,691,000 77,000 886,000 -1,697,000 -660,000 1,475,000 -3,405,000 146,000 -2,530,000 10,000 2,603,000 -212,000 -2,453,000 3,817,000 63,000 -225,000 -2,622,000 -81,000 834,000 59,000 -1,141,000 -1,549,000 314,000 219,000 -613,000 
          accrued expenses and other liabilities
        		 1,102,000 17,903,000 -2,533,000  21,037,000 -6,844,000 -6,709,000 7,503,000 14,160,000 2,378,000 -9,174,000 10,966,000 -3,861,000 -1,540,000 3,856,000 638,000 1,896,000 194,000 41,000 1,686,000 617,000 776,000 -2,512,000 548,000 -3,881,000 3,939,000 -4,017,000 810,000 -287,000 -360,000 811,000 1,297,000 3,886,000 129,000 -7,000 958,000 2,177,000 422,000 1,285,000 
          proceeds from sales and maturities of short-term investments
        		 103,000,000 133,600,000 104,680,000  100,200,000 61,750,000 67,986,000 113,000,000 122,800,000 154,915,000 81,500,000 113,250,000 72,817,000 72,418,000 50,448,000 45,400,000 89,575,000 81,500,000 37,500,000 64,447,000 38,500,000 17,575,000 15,885,000 41,722,000 21,362,000 20,335,000 33,380,000 34,679,000 29,500,000 41,750,000 24,500,000 40,843,000 31,985,000 37,352,000 25,095,000 47,895,000 30,025,000 30,520,000 31,857,000 
          proceeds from employee stock purchase plan
        		 -80,000 468,000 545,000  535,000 237,000 309,000  259,000 178,000 196,000  110,000 58,000 92,000 125,000 99,000 64,000 79,000 103,000 93,000 85,000 64,000 57,000 53,000 45,000 27,000 69,000 32,000 63,000 34,000 58,000        
          net decrease cash, cash equivalents and restricted cash
        		 8,172,000                                       
          cash, cash equivalents and restricted cash—beginning of period
        		 0 0 154,300,000  0 0 295,611,000  0 0 74,471,000  0 0 222,080,000  0 0 115,358,000  0 0 24,724,000  0 0 33,985,000  0 0 35,389,000         
          cash, cash equivalents and restricted cash —end of period
        		 8,172,000 -45,357,000 154,210,000  27,623,000 -9,219,000 114,832,000  -2,725,000 39,860,000 57,632,000  -48,862,000 -68,534,000 188,888,000  3,392,000 3,655,000 64,501,000  2,745,000 8,982,000 44,744,000  3,915,000 -31,450,000 58,332,000  -5,499,000 4,224,000 28,196,000         
          net increase cash, cash equivalents and restricted cash
        		   -90,000  27,623,000                                   
          non-cash interest income
        		                                        
          changes in fair value of derivative liability
        		            0 0                           
          collaboration payable/receivable
        		                                        
          proceeds from sales of equipment
        		            0                            
          payment on term loan
        		            2,000                            
          interest paid
        		                                       1,000 
          collaboration receivable (payable)
        		       315,000  -3,899,000                               
          net (decrease) in cash, cash equivalents and restricted cash
        		       -180,779,000                                 
          net income
        		                                        
          amortization of investments
        		                                        
          other
        		                0    -1,000 3,000    3,000   12,000 1,000 -3,000 1,000 0 0 1,000 7,000 28,000 -1,000   
          deferred revenue
        		                0 -12,375,000 -379,000 -379,000 -379,000 -380,000 -379,000 -379,000 -379,000 -380,000 -379,000 -379,000 -379,000 -380,000 -379,000 -379,000 3,807,000 -305,000 -305,000 -305,000 -305,000 -305,000 -305,000 -305,000 
          allocation of proceeds to common stock issued under the incyte share purchase agreement
        		                                        
          allocation of proceeds to derivative liability recorded under the incyte share purchase agreement
        		                                        
          non-cash interest expense
        		            0 792,000 159,000 152,000 -583,000 124,000 120,000 114,000 113,000 110,000 104,000 62,000                 
          proceeds from issuance of common stock in at-the-market stock offering
        		             0    0        0 0 830,000             
          supplemental disclosure of cash flow information:
        		                                        
          cash paid for interest
        		             1,099,000 490,000 470,000  503,000 503,000 493,000  504,000 503,000 126,000                 
          collaboration receivable
        		           2,082,000 1,065,000                            
          net decrease in cash, cash equivalents and restricted cash
        		           -16,839,000  -48,862,000 -68,534,000 -33,192,000          3,915,000    -5,499,000 4,224,000 -7,193,000         
          (accretion) and amortization of investments
        		                                        
          proceeds from issuance of common stock in direct placement offering
        		                                        
          proceeds from term loan agreement
        		                                        
          amortization and accretion of short-term investments
        		                                        
          purchases of short-term investments
        		             -79,835,000 -122,366,000 -42,266,000 -105,227,000 -62,944,000 -59,820,000 -66,728,000 -128,587,000 -19,225,000 -96,187,000 -34,938,000 -35,126,000 -8,998,000 -39,266,000 -20,628,000 -18,703,000 -25,992,000 -22,466,000 -11,683,000 -39,251,000 -25,023,000 -73,908,000 -14,081,000 -26,567,000 -21,820,000 -31,069,000 -78,863,000 
          amortization and accretion of investments
        		              -267,000 -53,000 171,000 173,000 187,000 113,000 65,000 -2,000 -83,000 -110,000                 
          other receivables
        		                                        
          changes in fair value of derivate liability
        		               -187,000                         
          proceeds from exercise of stock options
        		                                        
          net cash from (used) in investing activities
        		                                        
          proceeds from direct stock offering
        		                     -33,000 107,901,000 34,866,000  0 -192,000 27,571,000             
          proceeds from debt agreement
        		                     0 0 19,730,000                 
          supplemental disclosures of noncash investing and financing activities:
        		                                        
          issuance costs debt included in accounts payable and accrued expenses
        		                       82,000                 
          proceeds from issuance of common stock in follow on public offering
        		                                        
          depreciation, amortization and accretion
        		                         -176,000 -224,000 -180,000  -145,000 -75,000 -62,000  154,000 73,000 6,000  -69,000 4,000 53,000 
          amortization of operating leases
        		                                        
          issuance costs included in accounts payable and accrued expenses
        		                           171,000       26,000 135,000     
          change in fair value of warrants
        		                                        
          proceeds from issuance of common stock in initial public offering
        		                                        
          proceeds from issuance of common stock in follow-on public stock offering
        		                                        
          property and equipment purchases included in accounts payable and accrued expenses
        		                                 1,000      73,000 
          vesting of restricted stock
        		                                 0 48,000 11,000    10,000 
          amortization of debt discount and debt issuance costs
        		                                        
          change in restricted cash
        		                                   49,000     
          proceeds from issuance of convertible preferred stock
        		                                        
          deferred issuance costs
        		                                        
          payments on term loans
        		                                        
          net increase in cash and cash equivalents
        		                                   -1,488,000 11,091,000   8,000 
          cash and cash equivalents—beginning of year
        		                                        
          cash and cash equivalents—end of year
        		                                        
          change in fair value of warrants and derivative
        		                                     0 0 1,720,000 
          changes in restricted cash
        		                                 1,000       
          proceeds from issuance of common stock in initial public stock offering
        		                                    -29,000 -141,000 -1,231,000 53,549,000 
          proceeds from issuance of common stock in follow on public stock offering
        		                                 -162,000       
          net decrease in cash and cash equivalents
        		                                 -2,256,000       
          cash and cash equivalents—beginning of period
        		                                 0 0 23,844,000  0 0 23,179,000 
          cash and cash equivalents—end of period
        		                                 -2,256,000 632,000 22,356,000  -1,688,000 -8,746,000 23,187,000 
          accretion of dividends on convertible preferred stock
        		                                       2,598,000 
          reclassification of common stock warrant liability to additional paid-in capital
        		                                       4,551,000 
          conversion of preferred stock to common stock upon closing of initial public offering
        		                                        
          proceeds from the exercise of stock options
        		                                   118,000     
          supplemental disclosures of non-cash investing and financing activities:
        		                                        
          conversion of preferred stock to common stock upon closing of ipo
        		                                       328,942,000 
          write-off of deferred costs associated with postponed initial public offering
        		                                        
          proceeds from issuance of debt
        		                                        
          increase in restricted cash
        		                                        
          payments on debt
        		                                        
          deferred debt issuance and financing costs
        		                                        
          supplement disclosures of cash flow information (note 13).
        		                                        
          decrease in restricted cash
        		                                       2,000 
          principal payments on capital lease obligation
        		                                       -1,000 
          accretion of convertible preferred stock to redemption value
        		                                        
          ipo issuance costs included in accounts payable and accrued expenses
        		                                       1,400,000