Sweden's SynAct Pharma Q3 net loss narrows as expenses fall

SynAct Pharma AB

Tue 06:40

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: ID:nMFN4vl0Dr

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.)