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Syntara Limited (ASX:SNT)

ALERT: Price-sensitive ASX Announcement for SNT
Current share price for SNT : $0.028 -0.004 (-12.50%)+
Announcement
Release
29 Apr 2026 10:21AM
Price at Release
$0.032
Full Release
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Summary
Syntara Limited, an Australian clinical-stage drug developer, is undertaking a two tranche non-underwritten equity placement to raise approximately A$8 million by issuing 296.3 million new shares at A$0.027 each. This initiative aims to fund clinical trial readouts, advance myelofibrosis licensing discussions, and prepare for the upcoming Phase 2b study. The placement is managed by Canaccord Genuity and Euroz Hartleys. Syntara's lead drug Amsulostat holds FDA IND and orphan drug designation, with ongoing studies in high-value markets like hypertrophic scarring and Parkinson's Disease. The equity raising will provide a cash runway until Q3 2027, facilitating potential licensing deals and furthering the development of its diverse drug pipeline.
Key Points
  • Syntara Limited is conducting a two tranche non-underwritten placement to raise approximately A$8 million.
  • The placement includes issuing approximately 296.3 million new fully paid ordinary shares.
  • The offer price is set at A$0.027 per new share, representing a discount to recent trading prices and VWAPs.
  • Funds raised will be used for trial readouts, MF licensing discussions, and Phase 2b MF study preparations.
  • Canaccord Genuity and Euroz Hartleys are acting as Joint Lead Managers and Joint Bookrunners.
  • The company’s pipeline includes assets such as Amsulostat, SNT-4728, and SNT-9465.
  • Syntara aims to leverage its assets to negotiate licensing deals within the financial runway provided by the raise.
  • The company has FDA IND and orphan drug designation for Amsulostat in myelofibrosis.
  • Preparations are underway for a Phase 2b study expected to commence in Q4 2026.
  • Syntara's business is backed by specialist healthcare investors and has a strong track record in asset partnerships.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.