New Risk • May 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 41% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$36m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (AU$52.6m market cap, or US$38.0m). New Risk • Feb 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$12m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Earnings are forecast to decline by an average of 33% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$35m net loss in 2 years). Market cap is less than US$100m (AU$52.3m market cap, or US$37.2m). Announcement • Jan 08
Syntara Limited Announces Company Secretary Changes, Effective January 8, 2026 Syntara Limited announced that existing Chief Financial Officer, Mr. Tim Luscombe, has been appointed as Company Secretary of the company, effective January 8, 2026. For the purposes of ASX Listing Rule 12.6, Mr. Tim Luscombe will be the person responsible for communications with ASX in relation to Listing Rule matters. Mr. Cameron Billingsley has notified the Board of his resignation as Company Secretary, effective January 8, 2026. Mr. Billingsley will continue to provide external general counsel services to Syntara. Board Change • Oct 07
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. 2 highly experienced directors. CEO, MD & Director Gary Phillips is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Oct 01
Syntara Limited, Annual General Meeting, Nov 20, 2025 Syntara Limited, Annual General Meeting, Nov 20, 2025. New Risk • Aug 29
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: AU$7.6m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$21m net loss in 2 years). Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Revenue is less than US$5m (AU$7.6m revenue, or US$5.0m). Market cap is less than US$100m (AU$43.1m market cap, or US$28.2m). Price Target Changed • Aug 13
Price target decreased by 17% to AU$0.20 Down from AU$0.23, the current price target is an average from 3 analysts. New target price is 596% above last closing price of AU$0.028. Stock is down 13% over the past year. The company is forecast to post a net loss per share of AU$0.01 next year compared to a net loss per share of AU$0.014 last year. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 17% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 39% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$28m net loss in 2 years). Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (AU$43.9m market cap, or US$28.7m). Price Target Changed • Jul 17
Price target increased by 24% to AU$0.23 Up from AU$0.19, the current price target is an average from 2 analysts. New target price is 335% above last closing price of AU$0.054. Stock is up 35% over the past year. The company is forecast to post a net loss per share of AU$0.007 next year compared to a net loss per share of AU$0.014 last year. Announcement • Apr 30
Syntara Limited to Report Q3, 2025 Results on May 01, 2025 Syntara Limited announced that they will report Q3, 2025 results on May 01, 2025 Price Target Changed • Mar 13
Price target increased by 27% to AU$0.19 Up from AU$0.15, the current price target is an average from 3 analysts. New target price is 138% above last closing price of AU$0.08. Stock is up 300% over the past year. The company is forecast to post a net loss per share of AU$0.0085 next year compared to a net loss per share of AU$0.014 last year. New Risk • Feb 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$4.3m net loss in 3 years). Revenue is less than US$5m (AU$5.8m revenue, or US$3.7m). Market cap is less than US$100m (AU$112.1m market cap, or US$71.3m). Announcement • Feb 06
Syntara Limited Announces Board Changes Syntara Limited announced that Cameron Billingsley has been appointed as Company Secretary, effective February 6, 2025. Mr. David McGarvey has notified the Board of his resignation as Company Secretary, effective today. Syntara thanks Mr. McGarvey for his significant contribution to the Company for more than 20 years. Major Estimate Revision • Dec 13
Consensus revenue estimates increase by 69% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from AU$1.80m to AU$3.05m. Forecast losses expected to reduce from -AU$0.0095 to -AU$0.0085 per share. Pharmaceuticals industry in Australia expected to see average net income decline 14% next year. Consensus price target of AU$0.15 unchanged from last update. Share price fell 5.7% to AU$0.066 over the past week. Announcement • Dec 12
Syntara Limited has completed a Follow-on Equity Offering in the amount of AUD 15 million. Syntara Limited has completed a Follow-on Equity Offering in the amount of AUD 15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 205,971,256
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 34,275,302
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 9,753,442
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Transaction Features: Subsequent Direct Listing Announcement • Dec 10
Syntara Limited Announces Positive Interim Data in Phase 2 Study of SNT-5505 in Myelofibrosis Syntara Limited announced 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)1. The interim results suggest that SNT-5505 has potential as a breakthrough therapy for MF and are being presented at the 66thAmerican Society of Hematology annual meeting (ASH). Highlights: At 12 weeks of treatment, 46% of evaluable patients3 achieved a 50% improvement in Total Symptom Score (TSS50) which improved to 80% at 38 weeks of treatment. TSS50 is a standard efficacy endpoint used as the primary endpoint in MF clinical trials. 30% of evaluable patients4 achieved a spleen volume reduction (SVR) of 25% and 20% achieved an SVR of 35%. Both levels are considered clinically meaningful, with SVR35 a typical endpoint used in MF clinical trials. Patient symptoms and spleen volume continued to improve over the duration of the interim data which is a novel finding that differentiates SNT-5505 from MF drugs on market and in later stages of development. SNT-5505 is safe & well tolerated with no treatment related serious adverse events noted at this interim stage - viewed together with the excellent safety profile seen in the earlier monotherapy study5 this is emerging as another key differentiator to MF drugs on the market and in development. After receiving data from a subset of patients reaching 52 weeks of treatment by March 2025, the company intends to discuss with the FDA the trial design for a pivotal Phase 2c/3 study. Concurrently, the company will also engage with potential global and regional partners. There were no treatment related serious adverse events (SAEs) attributed to SNT-5505. Substantial symptom relief observed over time: At Week 12 - 46% (6/13) of evaluable patients achieved a 50% reduction in Myelofibrosis Symptom Assessment Form Total Symptom score (TSS50), a benchmark for clinical response recognised by regulatory authorities such as the FDA. At Week 38 - 80% (4/5) of evaluable patients achieved an TSS50. Of the 16 enrolled patients, 12 patients were continuing to receive treatment as of the ASH data cut off. No discontinuations for adverse events were considered related to SNT-5505 treatment. This level of discontinuations in clinical trials is consistent with a patient group with a high disease burden. The Phase 2 trial has been designed to evaluate SNT-5505 in combination with RUX in patients with intermediate-2 or high-risk MF. Announcement • Oct 29
Syntara Limited to Report Q1, 2025 Results on Oct 30, 2024 Syntara Limited announced that they will report Q1, 2025 results Pre-Market on Oct 30, 2024 Announcement • Sep 30
Syntara Limited, Annual General Meeting, Nov 28, 2024 Syntara Limited, Annual General Meeting, Nov 28, 2024. Announcement • Aug 16
Syntara Limited Announces CFO Changes Syntara Limited announced the appointment of Tim Luscombe as Chief Financial Officer (CFO) for Syntara, effective 31 August 2024. Tim replaces Mr. David McGarvey, who is retiring after more than 20 years as the CFO of Syntara, and before that Pharmaxis. David will continue in his role as Company Secretary to the Board. Tim is a Director at Bio101 Financial Advisory (Bio101), a financial services firm providing outsourced CFO, taxation and company secretarial solutions to the biotechnology and healthcare sector. Tim has more than 10 years of finance and commercial experience working with public and private companies in Australia and abroad. He currently serves as a CFO and Company Secretary for several ASX-listed, public unlisted and private companies. Tim holds a Bachelor of Commerce from the University of Melbourne, a Certificate in Governance Practice from the Governance Institute of Australia and is a qualified Chartered Accountant. In addition to his role as Company Secretary Mr. McGarvey will give special attention to concluding financial and legal arrangements associated with the sale of the mannitol business unit. New Risk • Jul 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$15m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$15m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.7m net loss in 2 years). Market cap is less than US$100m (AU$28.7m market cap, or US$19.1m). New Risk • Jun 15
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$15m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$15m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.7m net loss in 2 years). Market cap is less than US$100m (AU$34.6m market cap, or US$22.9m). New Risk • May 29
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$11m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$11m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$6.7m net loss in 2 years). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$25.1m market cap, or US$16.6m). Announcement • Apr 24
Syntara Limited to Report Q3, 2024 Results on Apr 30, 2024 Syntara Limited announced that they will report Q3, 2024 results on Apr 30, 2024 Price Target Changed • Mar 06
Price target decreased by 41% to AU$0.20 Down from AU$0.34, the current price target is provided by 1 analyst. New target price is 733% above last closing price of AU$0.024. Stock is down 50% over the past year. The company is forecast to post a net loss per share of AU$0.011 next year compared to a net loss per share of AU$0.017 last year. New Risk • Feb 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 64% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$12m net loss next year). Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$24.7m market cap, or US$16.1m). Announcement • Feb 06
Syntara Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Syntara Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 108,392,130
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00022
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 346,153,325
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00022
Transaction Features: Subsequent Direct Listing Announcement • Dec 20
Syntara Limited has filed a Follow-on Equity Offering in the amount of AUD 10.0012 million. Syntara Limited has filed a Follow-on Equity Offering in the amount of AUD 10.0012 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 108,400,000
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00022
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 346,200,000
Price\Range: AUD 0.022
Discount Per Security: AUD 0.00022
Transaction Features: Subsequent Direct Listing New Risk • Dec 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$16m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$3.5m net loss in 2 years). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$21.7m market cap, or US$14.5m). New Risk • Nov 02
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$16m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$16m). Currently unprofitable and not forecast to become profitable over next 2 years (AU$4.5m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (AU$23.1m market cap, or US$14.8m). Announcement • Oct 20
Arna Pharma Pty Ltd completed the acquisition of Mannitol respiratory business of Pharmaxis. Arna Pharma Pty Ltd entered into definitive agreement to acquire Mannitol respiratory business of Pharmaxis on October 3, 2023. the sale is scheduled to complete before the end of October 2023. Arna Pharma Pty Ltd completed the acquisition of Mannitol respiratory business of Pharmaxis on October 19, 2023. New Risk • Oct 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.4% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (AU$24.6m market cap, or US$15.6m). Announcement • Oct 05
Arna Pharma Pty Ltd entered into definitive agreement to acquire Mannitol respiratory business of Pharmaxis. Arna Pharma Pty Ltd entered into definitive agreement to acquire Mannitol respiratory business of Pharmaxis on October 3, 2023. the sale is scheduled to complete before the end of October 2023. Announcement • Sep 13
Pharmaxis Ltd, Annual General Meeting, Nov 28, 2023 Pharmaxis Ltd, Annual General Meeting, Nov 28, 2023, at 11:01 AUS Eastern Standard Time. Reported Earnings • Aug 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: AU$0. Revenue: AU$19.3m (up 23% from FY 2022). Net loss: AU$11.4m (loss widened 487% from FY 2022). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Pharmaceuticals industry in Australia. Breakeven Date Change • Aug 29
Forecast to breakeven in 2026 The 2 analysts covering Pharmaxis expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$14.7m in 2026. Average annual earnings growth of 44% is required to achieve expected profit on schedule. New Risk • Aug 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 42% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (AU$36.0m market cap, or US$23.3m). Price Target Changed • Mar 28
Price target decreased by 32% to AU$0.17 Down from AU$0.25, the current price target is an average from 2 analysts. New target price is 286% above last closing price of AU$0.044. Stock is down 51% over the past year. The company is forecast to post a net loss per share of AU$0.016 next year compared to a net loss per share of AU$0.0034 last year. Reported Earnings • Feb 12
Second quarter 2023 earnings released: AU$0.008 loss per share (vs AU$0.01 loss in 2Q 2022) Second quarter 2023 results: AU$0.008 loss per share. Revenue: AU$1.05m (down 62% from 2Q 2022). Net loss: AU$5.82m (loss widened 3.1% from 2Q 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Pharmaceuticals industry in Australia. Announcement • Jan 17
Pharmaxis Ltd Appoints Hashan De Silva to the Board as Nonexecutive Director Pharmaxis Ltd. announced the appointment of healthcare investment professional Hashan De Silva to the Board as a nonexecutive director. Mr. De Silva is an experienced life sciences investment professional. He worked as associate healthcare analyst at Macquarie Group and lead healthcare analyst at CLSA Australia before joining Karst Peak Capital in February 2021 as head of healthcare research. Prior to moving into life science investment Mr. De Silva worked at Eli Lilly in various roles focused on the commercialisation of new and existing pharmaceuticals. Mr. De Silva was educated at the University of New South Wales (Bachelor's Degree in Medicine and Master's Degree in Finance) and is a Chartered Financial Analyst. Until December 2022 Mr. De Silva was Head of Healthcare Research at Karst Peak Capital Limited, a Hong Kong and Australian based specialist healthcare fund and is a nonexecutive director of Melbourne and Philadelphia based CurveBeam AI. Mr. De Silva is based in Sydney Australia and commences his role as nonexecutive director on 16 January 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Chairman of the Board Malcolm McComas was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
First quarter 2023 earnings released First quarter 2023 results: EPS: AU$0.002. Revenue: AU$8.08m (up 41% from 1Q 2022). Net income: AU$943.0k (up AU$4.12m from 1Q 2022). Profit margin: 12% (up from net loss in 1Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Pharmaceuticals industry in Australia are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Sep 02
Pharmaxis Ltd Updates on Phase 2 Study of the Pharmaxis Drug Discovery PXS4728 Pharmaxis Ltd. announced update on Phase 2 study of the Pharmaxis drug discovery PXS4728. Parkinson's UK, will provide £2.9 million to fund a Phase 2 study of the Pharmaxis drug discovery PXS4728, with the aim of tackling Parkinson's disease at the earliest possible time. Previous research has identified that the development of isolated Rapid Eye Movement Sleep Behaviour Disorder (iRBD), where otherwise healthy people start acting out their dreams, is the strongest predictor for the development of Parkinson's disease and dementia with Lewy Bodies. A recent multicentre study found that over 70% of iRBD patients transitioned to a neurodegenerative disease. The study will examine whether targeting inflammation in the brain of people with iRBD might provide a viable neuroprotective strategy to prevent the disease. Working in collaboration, experts from the University of Sydney and the University of Oxford will recruit 40 patients with iRBD to participate in a placebocontrolled Phase 2 trial to evaluate whether PXS4728 can reduce neuroinflammation as measured by nuclear scanning techniques. PXS4728 is a potent inhibitor of the inflammatory enzyme SSAO (semicarbazidesensitive amine oxidase) that was discovered by the Pharmaxis research team at the company's Frenchs Forest laboratories in Sydney, Australia. The drug was licenced in 2015 by Boehringer Ingelheim and extensively studied in 11 clinical trials including the inflammatory diseases of NASH and diabetic retinopathy. Despite promising results, Boehringer returned the drug to Pharmaxis due to an off target effect on an additional inflammatory enzyme in the brain, MAOB (monoamine oxidase B). The study in iRBD is seeking to reduce inflammation by inhibiting both SSAO and MAOB, a concept supported by preclinical models in neuroinflammation and published literature in Parkinson's disease. PXS4728 has passed all long term toxicity studies and has been well tolerated in all clinical studies including two Phase 2 studies. It is therefore an ideal candidate for long term studies in neurodegenerative diseases like Parkinson's, Alzheimer's and Huntington's Disease where neuroinflammation plays a significant role in disease progression. Reported Earnings • Sep 01
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: AU$15.8m (down 33% from FY 2021). Net loss: AU$1.93m (loss narrowed 35% from FY 2021). Revenue exceeded analyst estimates by 22%. Over the next year, revenue is expected to shrink by 4.8% compared to a 657% growth forecast for the Pharmaceuticals industry in Australia. Announcement • Aug 08
Pharmaxis Ltd to Report Fiscal Year 2022 Final Results on Aug 23, 2022 Pharmaxis Ltd announced that they will report fiscal year 2022 final results on Aug 23, 2022 Announcement • Aug 05
Pharmaxis Ltd Announces Resignation of Will Delaat as Non Executive Director Pharmaxis Ltd. announced that its long serving non executive director Will Delaat AM has resigned from the Board due to ill health. Mr. Delaat's resignation, effective from 4 August marks the end of his significant contribution to the evolution of the Pharmaxis business. He joined the Board in June 2008 and has served as a non executive director over a period of substantial change which has seen Pharmaxis repositioned as a clinical stage drug development company, building its platform of drugs for inflammatory and fibrotic diseases. He has served on the Remuneration and Nomination Committees and as Chair of the Audit and Risk Committee. Reported Earnings • Aug 01
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: AU$15.9m (down 33% from FY 2021). Net loss: AU$1.93m (loss narrowed 35% from FY 2021). Revenue missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 18% compared to a 142% growth forecast for the pharmaceuticals industry in Australia. Announcement • Jul 01
Pharmaxis Limited Announces the Appointment of Dr. Jana Baskar as Chief Medical Officer Pharmaxis Limited announced the appointment of Dr. Jana Baskar to the role of Chief Medical Officer. Dr. Baskar is a highly experienced executive who has worked in both pharmaceutical and contract research companies. Dr. Jana Baskar has over two decades of experience including overseeing more than 70 phase IIII trials of oncology treatments in his 6 years as Medical Director at Novartis Oncology in Australia. In his most recent role, he served as Medical Director for IQVIA in Australia and New Zealand where he also co chaired the IQVIA ANZ Oncology Advisory Board providing strategic advice to Biopharma companies. Dr. Baskar received his Bachelor of Medicine degree (MBBS) from the University of Western Australia. He holds a Master of Medical Science in Drug Development from the University of New South Wales, Sydney (MMedSc) and a Masters of Business Administration (MBA) from the Australian Graduate School of Management. Pharmaxis founding scientist and Medical Director, Dr. Brett Charlton, is retiring after more than 20 years' service with the company during which time he has overseen development programs that lead to two products achieving global regulatory approval and the transition of several pipeline products into clinical development including Pharmaxis' two lead assets in myelofibrosis (PXS5505) and scarring (PXS6302). Announcement • Jun 08
Pharmaxis Ltd, Annual General Meeting, Jul 11, 2022 Pharmaxis Ltd, Annual General Meeting, Jul 11, 2022, at 11:00 E. Australia Standard Time. Agenda: To approve the issue of securities by the Company under a placement undertaken in November 2021, in order to refresh the Company's capacity to issue securities under ASX Listing Rule 7.1 in the future. Announcement • May 17
Pharmaxis Ltd to Report Fiscal Year 2022 Results on Aug 11, 2022 Pharmaxis Ltd announced that they will report fiscal year 2022 results on Aug 11, 2022 Price Target Changed • Apr 27
Price target increased to AU$0.58 Up from AU$0.09, the current price target is provided by 1 analyst. New target price is 480% above last closing price of AU$0.10. Stock is up 15% over the past year. The company posted a net loss per share of AU$0.0073 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Chairman of the Board Malcolm McComas was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Second quarter 2022 earnings: Revenues exceed analyst expectations Second quarter 2022 results: Revenue: AU$2.78m (down 78% from 2Q 2021). Net loss: AU$5.65m (down 212% from profit in 2Q 2021). Revenue exceeded analyst estimates by 2.5%. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Feb 01
Pharmaxis Ltd Announces First Patients Dosed in PXS Scar Reduction Trial Pharmaxis announced that a phase 1c trial of its novel topical drug treatment for scarring, has commenced dosing in patients with established scars. The study, led by renowned surgeon Professor Fiona Wood AM and researchers at The University of Western Australia (UWA), will assess the safety and tolerability of a once daily application of Pharmaxis drug PXS6302 applied to areas of established scars on adult patients. Skin biopsies will be taken in order to study the impact on scar structure as well as visual and physical assessments of the scar tissue. PXS6302 is a first in class inhibitor of the lysyl oxidase enzymes (LOX) that are involved in formation and maintenance of scars and is a potential breakthrough treatment for patients with problematic scars. Scar formation following a burn or skin injury is a considerable health issue worldwide. After an injury, people are unable to regenerate normal skin, instead the repair process leads to scar formation. Scars are both aesthetically and functionally inferior to normal skin, leading to significant psychological and physical problems. Key factors in the poor appearance and pliability of scars, and in particular hypertrophic scars, are the changes to the structure and quantity of collagen in the dermal layer. Current treatments in a global market valued at USD 3.5 billion, aim to rectify the scar in the acute phase (i.e. during wound healing and scar maturation) through options such as compression therapy, silicone gel sheeting or later when the scar is established by cryotherapy, scar revision or laser. LOX plays a critical role in scar formation by crosslinking the collagen fibres. The resulting changes in collagen structure and increased rigidity of the tissue stimulates greater production of collagen and LOX which in turn leads to more scar tissue. Pharmaxis and its collaborators at UWA will now test if inhibiting LOX in established scar tissue with PXS6302 can safely and effectively improve scarring when administered as a cream once a day for a 3month period. PXS6302 was discovered by the Pharmaxis research team at the company's Frenchs Forest laboratories. The project was supported by a National Health and Medical Research Council (NHMRC) development grant funding extensive preclinical work executed in collaboration with UWA. The clinical trials in patients with established scar and patients with burns will both be conducted at Fiona Stanley Hospital in Perth with financial support from Pharmaxis. Recent Insider Transactions • Dec 27
Independent Chairman of the Board recently bought AU$113k worth of stock On the 21st of December, Malcolm McComas bought around 1m shares on-market at roughly AU$0.11 per share. This was the largest purchase by an insider in the last 3 months. Malcolm has been a buyer over the last 12 months, purchasing a net total of AU$156k worth in shares. Reported Earnings • Oct 29
First quarter 2022 earnings released: AU$0.007 loss per share The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: AU$5.74m (up 457% from 1Q 2021). Net loss: AU$3.18m (loss narrowed 36% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Aug 05
Pharmaxis Ltd Announces Results of Data Analysis from the Second of Three Stages in Its Phase 1C Clinical Trial (MF-101) Studying Potential New Treatment for the Bone Marrow Cancer Myelofibrosis Pharmaxis Ltd. announced results of data analysis from the second of three stages in its phase 1c clinical trial (MF-101) studying a potential new treatment for the bone marrow cancer myelofibrosis. The increase in dose lead to a predictable increase in drug blood levels in patients and showed the same good tolerability seen in the first dose cohort. The third dose cohort of the clinical trial is already fully recruited and dosing of all patients is expected to commence at participating sites in Australian and South Korean hospitals later this week. Following 28 days on this third dose, the safety and pharmacokinetics of the drug, PXS-5505, will be assessed before selecting the optimal dose to be used in the six-month dose expansion phase 2a to further evaluate safety as well as efficacy. Sites in other countries including the USA and Taiwan are currently being engaged in anticipation of the dose expansion phase commencing recruitment to 24 patients later this year. The phase 1c/2a trial MF-101 cleared by the FDA under the Investigational New Drug (IND) scheme aims to demonstrate that PXS-5505, the lead asset in Pharmaxis' drug discovery pipeline, is safe and effective as a monotherapy in myelofibrosis patients who are intolerant, unresponsive or ineligible for treatment with approved JAK inhibitor drugs. An effective pan-LOX inhibitor for myelofibrosis would open a market that is conservatively estimated at USD 1 billion per annum. While Pharmaxis' primary focus is the development of PXS-5505 for myelofibrosis, the drug also has potential in several other cancers including liver and pancreatic cancer where it aims to breakdown the fibrotic tissue in the tumour and enhance the effect of chemotherapy treatment. Announcement • Jun 10
Pharmaxis Announces Progression of Clinical Trial in Bone Marrow Cancer Pharmaxis Ltd. announced it has completed dosing the first of three stages in its phase 1c clinical trial (MF101) studying a potential new treatment for the bone marrow cancer myelofibrosis. The study's safety monitoring committee that advises on the study progress, has given the green light to progress to the second dose level after reviewing factors including the safety and pharmacokinetic properties of PXS5505 in myelofibrosis patients. Participating Australian and South Korean hospitals will shortly commence dosing of the second dose level for a treatment period of 28 days. The dose escalation phase of the study will inform the selection of the optimum dose of PXS5505 to be used in the sixmonth dose expansion phase (24 patients) to evaluate safety and efficacy. Sites in other countries including the USA are currently being approached in anticipation of the dose expansion phase commencing recruitment later this year. PXS5505 is an orally taken drug that inhibits the lysyl oxidase family of enzymes. In preclinical models of myelofibrosis PXS5505 reversed the bone marrow fibrosis that drives morbidity and mortality in myelofibrosis and reduced many of the abnormalities associated with this disease. It has already received IND approval and Orphan Drug Designation for the treatment of myelofibrosis from the FDA. The phase 1c/2a trial cleared by the FDA under the Investigational New Drug (IND) scheme aims to demonstrate that PXS5505, the lead asset in Pharmaxis' drug discovery pipeline, is safe and effective as a monotherapy in myelofibrosis patients who are intolerant, unresponsive or ineligible for treatment with approved JAK inhibitor drugs. While Pharmaxis' primary focus is the development of PXS5505 for myelofibrosis, the drug also has potential in several other cancers including liver and pancreatic cancer where it aims to breakdown the fibrotic tissue in the tumour and enhance the effect of chemotherapy treatment. Announcement • Apr 15
Pharmaxis Ltd announced that it expects to receive AUD 4.366891 million in funding from Karst Peak Capital Limited, BVF Partners, L.P. Pharmaxis Ltd (ASX:PXS) announced a private placement of 54,586,141 common shares at an issue price of AUD 0.08 per share for gross proceeds of AUD 4,366,891.28 on April 14, 2021. The transaction will include participation from sophisticated and institutional investors including new investor Karst Peak Capital Limited for AUD 3,200,000 and for 8.9% stake and returning investor BVF Partners, L.P for AUD 800,000 which will retain a stake of 19.5% in the company. The transaction is expected to close on April 21, 2021. Announcement • Feb 22
Pharmaxis Announces First Patient Enrolled in Clinical Trial for New Cancer Treatment Pharmaxis Ltd. announced it has enrolled the first patient in a clinical trial studying a potential new treatment for the bone marrow cancer myelofibrosis. The phase 1c/2a trial cleared by the FDA under the Investigational New Drug (IND) scheme aims to demonstrate that PXS5505, the lead asset in Pharmaxis' drug discovery pipeline, is safe and effective as a monotherapy in myelofibrosis patients who are intolerant, unresponsive or ineligible for treatment with approved JAK inhibitor drugs. Pharmaxis has completed site initiation at several Australian and South Korean hospitals and the first patient has been enrolled. The dose escalation phase of the study that aims to select the optimum dose of PXS5505. This first phase, that will recruit up to 18 patients, is expected to conclude and report in 2H 2021 and will be followed by a sixmonth dose expansion phase (24 patients) to evaluate safety and efficacy. Sites in other countries including the USA will be added for the dose expansion phase. PXS5505 is an orally taken drug that inhibits the lysyl oxidase family of enzymes. In preclinical models of myelofibrosis PXS5505 reversed the bone marrow fibrosis that drives morbidity and mortality in myelofibrosis and reduced many of the abnormalities associated with this disease. Major Estimate Revision • Feb 17
Analysts lower EPS estimates to -AU$0.014 The 2021 consensus revenue estimate was lowered from AU$25.3m to AU$23.1m. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -AU$0.011 to -AU$0.014 for the same period. The Pharmaceuticals industry in Australia is expected to see an average net income growth of 18% next year. The consensus price target of AU$0.14 was unchanged from the last update. Share price is down by 4.4% to AU$0.086 over the past week. Announcement • Feb 10
Pharmaxis Exports CF Drug to US Pharmaxis Ltd. has announced it has exported the first shipment of its locally developed and manufactured drug Bronchitol(mannitol) to the USA. The cystic fibrosis (CF) treatment was approved by the US Food and Drug Administration (FDA) on 30 October 2020. Following receipt of an initial payment of USD 7 million from its exclusive US distributor Chiesi, Pharmaxis will now receive a further USD 3 million milestone payment. After ramping up production at its purposebuild factory in the Sydney suburb of Frenchs Forest, Pharmaxis has now dispatched the first shipment of Bronchitol to Atlanta, Georgia. The drug has been manufactured and prepared for export by Pharmaxis employees at the company's high tech TGA and FDA approved facility in French Forest. Reported Earnings • Jan 31
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: AU$12.6m (up AU$11.0m from 2Q 2020). Net income: AU$5.03m (up AU$9.60m from 2Q 2020). Profit margin: 40% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Jan 31
Revenue and earnings miss expectations Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 36%. Over the next year, revenue is expected to shrink by 5.5% compared to a 90% growth forecast for the Pharmaceuticals industry in Australia. Announcement • Dec 30
Pharmaxis Receives USD 7 Million Milestone from Chiesi Pharmaxis Ltd. has received a USD 7 million milestone payment from its US licensee Chiesi Farmaceutici S.p.A. following the recent approval by the US Food Drug Administration of Bronchitol®(mannitol) for the treatment of cystic fibrosis. Announcement • Nov 30
Pharmaxis Ltd, Annual General Meeting, Nov 03, 2021 Pharmaxis Ltd, Annual General Meeting, Nov 03, 2021, at 10:00 AUS Eastern Standard Time. Announcement • Nov 10
Pharmaxis to Present at Proactive CEO Investor Session Pharmaxis Ltd. chief executive officer Mr. Gary Phillips will present at the Proactive CEO Investor Session to be held 10 November 2020. Mr. Phillips will discuss the significance of last week's US FDA approval of Bronchitol for Pharmaxis and the Company's focus on its new drug for the bone cancer myelofibrosis that will commence a phase 1c/2 clinical trial next quarter. The program commences at 12.00 noon (AEST) and will feature fifteen minute presentations from the CEO's of three companies - Pharmaxis Ltd, Cynata Therapeutics Ltd. and Recce Pharmaceuticals Ltd. Reported Earnings • Oct 31
First quarter earnings released Over the last 12 months the company has reported total losses of AU$13.2m, with losses narrowing by 28% from the prior year. Total revenue was AU$11.4m over the last 12 months, down 14% from the prior year. Announcement • Aug 20
Pharmaxis Ltd Auditor Raises 'Going Concern' Doubt Pharmaxis Ltd filed its Annual on Aug 12, 2020 for the period ending Jun 30, 2020. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. 
