Aug. 14 at 5:35 PM
It is terrific
$SNDX is up ~40% since its Q2 2025 conference call but investors should remember SNDX is still off 33% from last November. More important, SNDX still only trades for 0.16X its 10-year revenue forecast where peer 10-year M&A revenue multiples range from 0.33 to 0.42X. We should also reference our previous posts noting non-oncology multiples were considerably higher than oncology.
This is not investment advice. We have no idea what will happen to SNDX but simple analytics suggest there's still considerable upside should
$INCY acquire SNDX. We have no idea whether a M&A exit will happen. We also cannot be sure SNDX revenue forecasts are credible nor if SNDX's 2 products warrant a peer M&A multiple. For all we know valuations could crash & SNDX could go bankrupt. We only suggest you fully research SNDX for yourself.
The attachment visually compares SNDX's 10-year revenue multiple at
$14.30/share versus M&A revenue multiples paid in peer acquisitions.
$XBI