Syntara (SNT) Q2 2026 TU earnings summary

Executive summary

• Lead asset amsulostat advanced with new clinical and preclinical data presented at ASH 2025 and initiation of a second MDS Phase 2 trial in Australia, plus positive EMA Orphan Drug Designation for myelofibrosis.

• Pancreatic cancer Phase 1/2 trial collaboration announced, funded by MRFF, with recruitment expected mid-2026.

• SNT-4728 Phase 2 iRBD trial fully recruited, with data expected Q2 2026 and milestone payment of $1.8 million due in Q1 2026.

• SNT-9465 progressed to Phase 1b for hypertrophic scars after successful first-in-human study; SATELLITE keloid pilot study ongoing.

Financial highlights

• Closing cash balance at 31 December 2025 was $10.5 million, down from $14.4 million at 30 September 2025.

• Net cash outflow from operating activities was $3.8 million for the quarter, mainly due to R&D ($2.4 million) and staff costs ($1.3 million).

• Proforma cash balance at 31 December 2025 is $12.3 million, including the expected $1.8 million milestone payment.

• Estimated quarters of funding available is 2.8 based on current cash and burn rate.

Outlook and guidance

• Five clinical data readouts expected in 2026 across the portfolio, including amsulostat in MDS and MF, SNT-4728 in iRBD, and SNT-9465 in skin scarring.

• Recruitment for the pancreatic cancer trial with amsulostat to begin mid-2026.

• Results from SNT-9465 and SATELLITE keloid studies anticipated in 2026.