Syntara (SNT) Q1 2025 TU earnings summary

Executive summary

• Over 50% of shares are held by specialist healthcare investors, reflecting strong institutional confidence and due diligence in the company’s assets.

• Achieved full recruitment for the Phase 2 myelofibrosis trial, with interim results expected December 2024.

• The lead asset, SNT-5505, has FDA Orphan Drug Designation for myelofibrosis and is advancing in new indications with external funding and collaborations.

• Raised A$5 million to support ongoing Phase 2 clinical trials and appointed Tim Luscombe as CFO.

• The management team has a track record of FDA approvals and over $100M in commercial deals.

Financial highlights

• Pro forma cash at the end of September 2024 was A$10.4 million, including R&D tax credit, lease deposit release, and MBU sale proceeds.

• Market capitalization was A$60.42 million as of October 29, 2024.

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

• Net operating cash outflow for the quarter was $4.23 million, with R&D and staff costs accounting for 91% of net operating cashflows.

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

Outlook and guidance

• Interim Phase 2 myelofibrosis trial data to be presented at ASH in December 2024; full 12-month data expected Q3 2025.

• 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 meeting planned for 1H 2025 to discuss pivotal study design, which could trigger further capital raising or partnering.

• 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.