Sweden's SynAct Pharma Q3 net loss narrows as expenses fall
Overview
Sweden biotech firm's Q3 net loss narrowed as operating expenses fell 15% yr/yr
Company ended Q3 with cash runway into Q4 2027
Company signed first commercial partnership for resomelagon after quarter end
Outlook
Company expects FDA feedback on Phase 3 trial design by end-2026 or early 2027
Company says cash runway extends into Q4 2027 and beyond key milestones
SynAct Pharma continues to pursue partnering and commercial agreements for resomelagon
Result Drivers
LOWER OPERATING EXPENSES - Co said Q3 net loss narrowed due to a 15% yr/yr decrease in operating expenses
CLINICAL PROGRESS - Co said further analysis of ADVANCE study data clarified Phase 3 trial design for resomelagon in rheumatoid arthritis
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted Loss Per Share | SEK 0.57 | ||
Q3 Net Loss | SEK 32.18 mln | ||
Q3 Cash Flow From Operating Activities | -SEK 18.71 mln | ||
Q3 Operating Expenses | SEK 30.09 mln |
Analyst Coverage
Wall Street's median 12-month price target for SynAct Pharma AB is SEK30.00, about 85.9% above its November 2 closing price of SEK16.14
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)