Syntara (SNT) H1 2025 earnings summary

Executive summary

• Revenue from ordinary activities rose 338% to $3.07 million for the half-year ended 31 December 2024 compared to the prior period.

• Net loss after tax decreased 54% year-over-year to $2.7 million, reflecting improved operational performance and discontinued operations gains.

• The company is focused on clinical-stage drug development, advancing multiple phase 2 studies in blood cancers and neurodegenerative diseases.

• Sale of the mannitol respiratory business completed in late 2023, with ongoing royalty arrangements and some payment disputes.

Financial highlights

• Revenue and other income increased to $3.07 million, driven by grants and R&D tax incentives.

• Net loss after tax improved to $2.7 million from $5.9 million year-over-year.

• Profit from discontinued operations was $2.4 million, including a $2.1 million bad debt write-back and $0.3 million provision reversal.

• Cash and cash equivalents rose to $18.1 million at period end, up from $5.7 million at 30 June 2024.

• Total liabilities decreased significantly to $2.9 million from $22.7 million at the start of the period.

Outlook and guidance

• Additional interim data from the SNT-5505 phase 2 MF trial expected in H1 2025, with pivotal study discussions planned with the FDA.

• Two new phase 1c/2 studies in myelodysplastic syndrome (MDS) expected to commence recruitment by H1 2025.

• Results from the SNT-4728 phase 2 neurodegeneration trial anticipated in 2026.