SNT - Syntara Limited

[beatthemarket]

..bottom wedge is forming... indicates that the price may rise to the range of A$1.15/sh to A$1.40/sh.

Current price 98c.

 

[Purple XS2]

Actually, our preceding poster "beatthemarket" has a pretty good depiction in their signature avatar of Phamaxis' dealings with the FDA of late (cue Batman TV-show imposed graphic "BAM" :viking:"WHAPP!!" :twak.



Last close before Easter break at $0.33c. Ouch, indeed. Fans of bounce trades will have been also disappointed: apart from glimmers of recovery from intra-day low of 0.31, there's persistent gloom all around.

With cash backing of $80 mil + , there can't be much further to fall, when current SP gives a nominal market-cap of $100 mil...?

To quote myself before taking a stake in Tissue Therapies (TIS) " ...I'm considering a position" (and TIS was days away from a disaster: perhaps I'm doing this wrong, do you think?).

Anyway, there's plenty of holiday reading to catch up on in the announcement history, so ...

 

[Tyler Durden]

No one saw this?

Australian drug maker Pharmaxis faces an uncertain future after one of its key drugs, Bronchitol, failed to reach the targets needed for it to be submitted for regulatory approval.

Shares in Pharmaxis plunged 52.4 per cent to 15 ¢ on Wednesday after it said its year-long phase three study of 485 patients with bronchiectasis, a lung disease, recorded a statistically insignificant fall in exacerbation rates.
Two months ago the same drug was rejected by the main US regulatory body, the Food and Drug Administration, for marketing to cystic fibrosis patients.

Pharmaxis stocks are now down 87.9 per cent in 2013, after a 45.6 per cent fall in trading on January 31 when advisers to the FDA negatively reviewed the drug.

"There's a lot of uncertainty," BBY healthcare and life sciences analyst Dennis Hulme said.
"Now that the [bronchiectasis] potential is off the table, it looks like Pharmaxis will only have its modest sales in Europe and Australia for the next three years. So they would need to slash their costs substantially to survive in that model."

Pharmaxis chief executive Gary Phillips said the results of the trial were disappointing but added clinicians involved in the trial felt the results were ''highly clinically relevant''. ''Clearly there's a disconnect here in what would satisfy a regulator in terms of going for an approval for the drug, and what clinicians would take as convincing evidence to want to use it in their patients,'' he said.

Mr Phillips said Pharmaxis' business model he had been working on had not assumed the bronchiectasis trial would produce a positive result, and that the company would focus on growing its revenue from the use of Bronchitol in countries where the drug has been approved.

Pharmaxis had said this month that it was working with the FDA to design a new Bronchitol trial to improve its chances of breaking into the US market.

http://www.smh.com.au/business/pharmaxis-hit-after-failed-drug-trial-20130424-2if1g.html

I'm always on the lookout for companies which have woken up on the wrong side of the bed, but somehow I don't think this is the case here.

 

[Gringotts Bank]

It will either die or stabilize at <10c with no turnover. From such heights. The impetus required to make it viable again would be enormous.

Biotechs need a lot of projects happening at once, don't they? otherwise the risk is too high.

 

[skc]

Biotechs need a lot of projects happening at once, don't they? otherwise the risk is too high.

Yes and no. A biotech investor can more easily and efficiently diversify into various projects (by holding a basket of biotech shares) than a single company. A single company doing such (unless it is pfizer or something grand like that) will simply spread resource and maangement attention too thin.

ACR did pretty good today...

 

[AussieBoy]

I noticed PXS is on the way back up after getting cut in half last month. Got in late yesterday afternoon and pocketed a nice 19% gain this morning

 

[pixel]

It's been a long time since something good happened to PXS
Today's announcement http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01625897 could change that. I have traded some of the swings in recent months and am currently long this stock.

 

[Chronos-Plutus]

Such a tough sector to back. I will never forget the near losses that could have eventuated for me on this company.

Promise of Cystic Fibrosis treatment that fell flat!

Home - Pharmaxis

Welcome to the Pharmaxis staging website.

www.pharmaxis.com.au

 

[System]

On December 8th, 2023, Pharmaxis Ltd (PXS) changed its name and ASX code to Syntara Limited (SNT).