Syntara's Clinical Trials Show Promising Progress in Blood Cancer Treatments
SYNTARA LIMITED (SNT) Share Update July 2024 Tuesday 30th
Syntara Reaches Key Milestones in Myelofibrosis and Myelodysplastic Syndrome Trials
Syntara has made significant strides in its clinical trials for the treatment of myelofibrosis and myelodysplastic syndrome, according to its latest quarterly shareholder update.
Instant Summary:
- 14 out of 15 patients recruited for Phase 2 myelofibrosis study.
- Safety Monitoring Committee votes unanimously to continue the study.
- Upcoming Phase 1c/2 study for low/intermediate risk myelodysplastic syndrome (MDS) in Australia.
- High risk MDS trial in Germany pending grant approval.
- Successful $4 million share placement to support ongoing trials.
Progress in Myelofibrosis Trials
The June quarter of 2024 was a pivotal period for Syntara as it neared its recruitment targets for the Phase 2 multinational study targeting myelofibrosis (MF). Out of the targeted 15 patients, 14 have been recruited. The Safety Monitoring Committee, comprising principal investigators from all active sites, a representative from the contract research organization, and Syntara’s chief medical officer, reviewed the data and voted unanimously to continue the study. The safety profile of SNT-5505 remains promising, and Syntara aims to present meaningful data at the American Society of Hematology in December 2024.
Focus on Myelodysplastic Syndrome
SNT-5505's potential in treating myelodysplastic syndrome (MDS) is another key focus. The company has made progress in protocol development for a Phase 1c/2 study targeting low/intermediate risk MDS in Australia, in collaboration with the Australasian Leukemia and Lymphoma Group. Additionally, a high-risk MDS trial is proposed for the MDS clinical network in Germany, pending grant approval. MDS is a significant indication for SNT-5505, with a patient population three times larger than MF and limited promising drugs in development.
Additional Clinical Developments
Syntara has expanded its phase 2 study on the impact of LOX inhibition on scar development after burn injuries by adding a second trial site to increase recruitment capacity. Results are expected in the second half of 2025. Discussions are ongoing with trial leader Prof. Fiona Wood about progressing the topical LOX inhibitor in keloid scarring later this year.
Exit from Mannitol Business
The final parts of the exit from the mannitol business unit and the associated manufacturing facility were completed in the June quarter. The acquiring business, Arna Pharma, has taken full responsibility for all aspects, including the lease of the facility. However, Arna Pharma has challenged several fixed payment obligations, creating uncertainty around the funding of Syntara's active clinical trial programs. To mitigate this, Syntara announced a successful $4 million share placement earlier this week.
Syntara's progress in its clinical trials for myelofibrosis and myelodysplastic syndrome is likely to have a positive impact on its stock, as these developments show the company's potential to bring effective treatments to market. The successful share placement further strengthens its financial position, ensuring the continuation of key clinical programs. However, the dispute with Arna Pharma could introduce some uncertainty in the short term.
Investor Reaction:
Analysts are likely to view Syntara's clinical progress positively, especially given the promising safety profile of SNT-5505 and the significant funding secured for upcoming trials. The dispute with Arna Pharma may cause some concern, but the company's proactive measures to secure additional funding should reassure investors.
Conclusion:
Investors should keep an eye on Syntara's upcoming presentations at the American Society of Hematology and monitor the resolution of the dispute with Arna Pharma. The company's strategic focus on developing treatments for myelofibrosis and myelodysplastic syndrome positions it well for future growth.