Syntara (SNT) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, acknowledgment of traditional custodians, and introductions of board members and executives, including the Chair, CEO, CFO, and auditor representatives.

• Agenda included board address, CEO presentation, shareholder questions, and formal business items, with the meeting held virtually and voting/Q&A facilitated online.

Financial performance review

• Company reported a market cap of A$65.9m–66m and accumulated losses exceeding A$400m, mainly from historical drug development investments.

• Proforma cash balance as of 30 Sep 2024 was A$10.4m, including R&D tax credit and asset sale proceeds, with a monthly burn rate of about A$1m, providing runway to mid-2025.

• Company funded to mid-2025, with near-term data expected to drive value over the next 12–18 months.

• Historical context for losses included delays and commercial challenges in previous drug programs.

Board and executive committee updates

• Board comprises leaders with extensive international pharmaceutical and investment experience, including Dr Kathleen Metters (Chair), Dr Simon Green, Gary Phillips (CEO), and Hashan De Silva.

• Chair reflected on a year since stepping into the role, highlighting the transformation from Pharmaxis to Syntara and a focus on high-potential assets.