Syntara has received firm commitments from existing and new institutional and sophisticated investors to raise A$8.0 million (before costs) by way of a two-tranche institutional placement (Placement). The Company intends to conduct a non-underwritten share purchase plan to existing eligible shareholders to raise approximately A$2.0 million (SPP) (together with the Placement, the Capital Raising or the Offer).
The Capital Raising follows the recent announcement by the Company of its positive Type C meeting outcome with US FDA, supporting the Phase 2b clinical trial design for Syntara’s lead asset amsulostat in myelofibrosis (MF). Placement proceeds will provide a cash runway to Q3 2027 and be applied to:
- Trial readouts and licensing discussions – funding five key clinical trial readouts over CY2026 and to progress current licensing discussions across the pipeline.
- Phase 2b MF study preparation – preparatory work, including protocol finalisation, CRO selection, trial site negotiations, formulation development, and clinical trial supplies.
- Patent suite – strengthening the Company’s global leading pan-LOX patent suite and add potential to exploit multiple indications.
- Offer costs – funding costs associated with the Offer.
Commenting on the Capital Raising, Syntara Chief Executive Officer Gary Phillips said, “We’re very grateful for the strong support from our shareholders and new investors in this capital raising, stemming from the positive FDA review of our clinical development plan and Phase 2b protocol for amsulostat. With this injection of capital Syntara is now very well positioned to deliver data from the five clinical studies currently underway for its three pipeline programs and explore the associated commercial potential.”
The Capital Raising comprises an institutional Placement to raise A$8.0 million to existing and new institutional and sophisticated investors and a share purchase plan to existing eligible shareholders in Australia and New Zealand to raise A$2.0 million, both at A$0.027 per new share (Issue Price). All shares issued under the Placement and SPP will rank equally with existing fully paid ordinary shares in Syntara as at their date of issue (New Shares).
The Issue Price under the Capital Raising represents:
- a 15.6% discount to the last closing price of Syntara’s shares on the ASX on 24 April 2026 (the last trading day before the announcement of the Placement and SPP); and
- a 17.6% discount to the 5-day volume weighted average price of Syntara’s shares ended 24 April 2026.
