Syntara (SNT) H2 2025 earnings summary

Executive summary

• Transitioned to a pure-play clinical-stage drug developer after selling the mannitol respiratory business in October 2023, now focused on amsulostat (SNT-5505) for myelofibrosis and myelodysplastic syndromes, and other fibrosis/inflammation programs.

• Raised $20 million in new equity capital during FY25 to support clinical pipeline advancement.

• Achieved key clinical milestones, including FDA Fast Track designation for amsulostat and positive interim Phase 2 results in myelofibrosis.

Financial highlights

• Net loss after tax for FY25 was $7.9 million, compared to a $15.1 million loss in FY24.

• Revenue from continuing operations was $7.6 million, up from $5.9 million in FY24, mainly from R&D tax incentives and grants.

• Cash and cash equivalents at 30 June 2025 were $15.1 million, up from $3.5 million at 30 June 2024.

• Total current assets increased to $21.1 million (FY24: $9.8 million); total liabilities decreased to $5.4 million (FY24: $5.7 million).

• Profit from discontinued operations (mannitol business) was $4.3 million, including a $3.8 million bad debt write-back.

Outlook and guidance

• Focus remains on advancing amsulostat through pivotal trials in myelofibrosis and myelodysplastic syndromes, with additional Phase 2 data expected in 2026.

• Ongoing development of topical LOX inhibitors for scarring and SSAO inhibitor for neurodegenerative diseases, with multiple clinical readouts expected in CYH1 2026.

• Continued pursuit of strategic partnerships and non-dilutive funding to support pipeline progression.