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).

 

[Dona Ferentes]

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

well, here we are..

The ASX-listed Biotech set to unlock significant value

This $60m ASX-listed biotech, with a cutting-edge pipeline of transformative therapies, stands at a key inflection point for value creation.

www.livewiremarkets.com

Transformation and Evolution: From Pharmaxis to Syntara

Syntara has a long history. The company’s origins trace back to 2001, when it was first listed as Pharmaxis on the ASX with a goal to develop Bronchitol, an innovative treatment for cystic fibrosis (CF). This journey was challenging, with notable setbacks, including two FDA rejections. After years of efforts, the company finally received FDA approval in November 2020. Unfortunately for Pharmaxis, the treatment landscape for CF had shifted significantly over the 20+ years it took to reach this milestone and Bronchitol no longer held a central role in CF treatment.

During this lengthy journey, the management team did not sit idle. Pharmaxis quietly built expertise in a specific area of drug chemistry focused on amine oxidases. This drug discovery platform has since produced five lead drugs, three of which have now entered Phase 2 trials. This is a remarkably productive platform considering the level of resourcing. A significant achievement came in 2017, when Pharmaxis licensed a drug to Boehringer Ingelheim (BI) for A$39m upfront. While the drug was eventually returned back to Pharmaxis, the company generated A$87m from this deal, proving that the management team could successfully execute major licensing agreements.

In 2023, Pharmaxis completed its transformation by selling Bronchitol and its manufacturing facility, which reduced operating costs by A$14 million per annum and downsized the team from around 75 to just 25 members. With this shift, Pharmaxis rebranded as Syntara, a company focused on internal drug discovery and development with a unique position on the ASX, comparable only to CSL in this regard. Most other biotech firms on the ASX license or acquire drug candidates rather than develop them in-house, making Syntara’s approach rare and particularly valuable.
.
.
a $60 million MC hopeful.

 

[Dona Ferentes]

interest has grown ... presenting their Phase II , and out on the hustings selling the story

• Two tranche placement to raise $15.0m comprising the issue of approximately 250.0 million new fully paid ordinary shares in the following tranches:
- Tranche 1: to raise approximately A$12.4m utilising the Company’s existing placement capacity under ASX Listing Rule 7.1; and
- Tranche 2: to raise approximately A$2.6m which will be subject to shareholder approval at a General Meeting expected to be held in late January or early February 2025. The majority of Tranche 2 will be taken up by large existing holdersand will include an investment of approximately A$0.59 million by KP Rx, a fund managed by a director of the Company.

Offer Price
• New Shares to be issued under the Placement at a fixed offer price of A$0.06 per New Share

 

[kenny]

Sentimental pick for Jan '25 comp. Not a holder but want the old Pharmaxis to score a Win. $100M MC with 4 Phase II Candidates in the pipeline. The one with recent interest is SNT-5505 in Myelofibrosis.

Health Check: Can Syntara produce the next multibillion-dollar Aussie blood cancer drug? - Stockhead

Syntara hopes to emulate the success of Ojjaara, a $2.6 billion home-grown myelofibrosis therapy approved in the US.

stockhead.com.au

Syntara announces positive interim data in Phase 2 study of SNT-5505 in myelofibrosis

/PRNewswire/ -- Syntara Limited (ASX:SNT), a clinical-stage drug development company, is pleased to announce positive interim data from its ongoing Phase 2...

www.prnewswire.com

Syntara announces positive interim data in Phase 2 study of SNT-5505 in myelofibrosis

Syntara Limited (ASX:SNT), a clinical-stage drug development company, is pleased to announce positive interim data from its ongoing Phase 2 clinical trial evaluating SNT-5505 (200 mg BID) in combination with ruxolitinib (RUX) for the treatment of myelofibrosis (MF). The interim results suggest...

syntaratx.com.au