Sounds like over watering. I had an issue with mine this year, it wasn't putting out any leaves. So I pulled it out of the soil and saw that some roots had partially rotted. I gave soil that was dry that won't retain as much water and put it in a tighter pot and within a bit it finally sprouted leaves.

You shouldn't be watering it if it doesn't have leaves. Maybe try and repot it (it's easy the roots are very ropey) and see what's going on down there.

Pachypodiums do not want constantly wet soil and roots will rot when kept damp in a heavy soil mix. In general they need fast draining soil, they need water and fertilizer to grow. Water has to run out of the bottom when you pour it from top... if it does not... it is not porous enough. Take a handful of soil and squeeze it, if it stays clumped when you open your hand it is not suitable for succulents, it it crumbles when you open your hand it should be ok... Once you have the right soil, you can water again when top layer is almost dry and fertilize with water soluble food (1 tsp/gal) once a week and you will see a substantial improvement... don't forget to give it as much light as possible.

I use my own mix of small coconut husk chips (about 1/4 to 1/2 inch size), coarse perlite about same size and pine bark fines also about same size. I use it on all size pachy's and desert roses and have no problems at all with roots rotting.... good luck with your plant

I reported the plant about a month ago and the soil is fine it does not clump. In regards to watering I always wait tell the top soil is dry. Any recommendations on fertilizer?