Syntara (SNT) Q1 2025 TU earnings summary

Executive summary

• Institutional healthcare investors hold over 50% of shares, reflecting strong sector confidence and prior successful exits in similar indications.

• Achieved full recruitment for Phase 2 myelofibrosis trial; interim results expected December 2024.

• Lead asset targets myelofibrosis, granted FDA orphan drug status, and aims to modify disease progression rather than just symptoms.

• Pipeline includes three assets in phase two studies, with additional programs in skin scarring, Parkinson’s-related disorders, and myelodysplastic syndrome.

• Recent strategic focus includes divesting a loss-making manufacturing business, reducing annual expenses by AUD 14 million.

Financial highlights

• Pro forma cash at September quarter end was AUD 10.4 million, including R&D tax credit, lease deposit release, and MBU sale proceeds.

• Monthly cash burn is approximately AUD 1 million, providing runway through mid-2025.

• AUD 5 million was raised earlier in the quarter to fund ongoing phase two clinical trials.

• Market capitalization at A$60.42m as of October 29, 2024.

• $8.5m in non-dilutive grant funding awarded over the last three years.

Outlook and guidance

• Interim results from the lead myelofibrosis study are expected in December 2024, coinciding with the American Society of Hematology meeting.

• Additional data releases are anticipated in Q1 and Q2 2025, with further results from skin scarring and Parkinson’s studies in the second half of 2025.

• FDA discussions for pivotal phase 2/3 study design are planned for the first half of next year.

• New MDS/CMML trials in Germany and Australia to commence recruitment in 1H 2025.

• Funded through mid-2025 with multiple near-term data readouts expected in the next 12-18 months.