Azzet reports on three ASX stocks with notable trading updates today.
Syntara soars on SNT-5505 update
Shares in Syntara (ASX: SNT) were up around 14% at the open after the Sydney-based clinical-stage drug development small cap shared interim data from its Phase 2 trial of SNT-5505 in combination with ruxolitinib for myelofibrosis (MF).
Final results expected in Q3 – together with discussions with the U.S. Food and Drug Administration (FDA) about a pivotal Phase 2c/3 trial – are expected to further differentiate SNT-5505 in a space with high unmet needs and commercial potential.
Key outcomes included 73% achieving TSS50 and 44% achieving a spleen volume reduction ≥25%, with no serious adverse events attributed to SNT-5505.
Recent announcements highlight Syntara’s ongoing efforts to advance SNT-5505, which has received Fast Track Designation and FDA Orphan Drug Designation.
The development of SNT-5505, alongside other drug candidates, is expected to position the ASX small cap as a significant player in the treatment of blood cancers and fibrotic diseases, potentially impacting stakeholders by advancing treatment options in these areas.
Commenting on today’s update Syntara CEO Gary Phillips noted that after very recently being awarded Fast Track designation, the positive interim further reinforces the promising profile of SNT 5505 as an add-on therapy for myelofibrosis patients with a suboptimal response to the existing standard of care.
“The sustained and increasing improvements in both symptom burden and spleen volume, coupled with its excellent safety and tolerability, continue to differentiate SNT-5505 from other drugs in this space,” he said.
“We are particularly encouraged by the durability of the responses observed and look forward to reporting final study results and engaging with the FDA and potential partners in the coming months."
At the end of the March quarter Syntara had a closing cash balance of $18.0 million, compared to $18.1 million at 31 December 2024.
This was driven by the receipt of $2.6 million from Tranche 2 of the capital raise announced in December 2024 and $1.0 million of proceeds from the sale of the mannitol respiratory business unit (MBU).
The net cash outflows in operating activities during the quarter were $3.49 million, compared with $4.22 million for the previous quarter to 31 December 2024 (excluding the one-off receipt of the FY24 R&D tax incentive in that quarter).
Syntara has a market cap of $120 million; the share price is up 155% in the last year and down 7.5% year-to-date.
The stock appears to be in a long-term uptrend confirmed by multiple indicators.
Consensus is Strong Buy.
Accent Group tanks on profit warning
While investors were quick to head for the exits after Accent Group’s (ASX: AX1) profit warning today, a prevailing broker outlook suggests the footwear-focused retailer may have been seriously oversold.
Despite the double-digit (20%) fall at the open, Bell Potter was quick to reaffirm its buy rating on the ASX mid cap's shares.
While the broker has reduced its price target on the stock from $2.60 to $2.10, this still represents a 46% discount to the current $1.43 share price.
Despite expecting some ongoing weakness in highly discretionary categories similar to Accent’s non-sport segments remain, the broker expects a monetary policy catalyst-led recovery into the back-end of calendar year 2025 to support FY26 performance in the name.
As a medium-term catalyst, Bell Potter expects a high growth focus for the name leveraging the outperforming sports segment via global partner and key shareholder, FRAS.
“With the first Sports Direct store to be opened by the end of CY25, we anticipate the unlocking of the sizable store roll-out opportunity for the banner in Australia (50-store target over 6 years), while benefiting from a higher relevance to leading brand partners such as Nike backed by FRAS,” the broker noted.
While the market is quick to factor in bad news amid heightened market volatility, Bell Potter’s update suggests now could be an opportune time to buy on the dip: The company’s fundamentals have not changed.
Meantime, what spooked the market into taking a sell-now-ask-questions-later stance at the open, was revised guidance.
In response to tough trading conditions the Platypus and HypeDC owners expect group earnings to be between $108 million and $111 million in FY25 - well below the consensus estimate of $133 million.
Management told the market that low overall growth in the lifestyle footwear market from March to early June has impacted sales in both the retail and wholesale segments.
Fuelling shareholder fear were the following like-for-like sales data:
- Down 1% for the 23 weeks ended 8 June 2025.
- Down 2.5% for the 23 weeks ended 8 June 2025.
- Accent’s market cap is $841 million; its shares are down 29% for one year and down 40% year to date.
Investor sentiment has been weak, resulting in a bearish sloping 200-day moving average.
Consensus is Strong Buy.
Dalrymple Bay Infrastructure drops on shareholder exit
Shares in Dalrymple Bay Infrastructure (ASX: DBI) fell 5% on the news that a major shareholder wanted out.
Shareholders clearly saw the decision by North American giant Brookfield Infrastructure to divest 23.2% of its stake as a vote of no confidence in the Queensland coal port.
Located at Qld’s Port of Hay Point, the Dalrymple Bay facility allows coal miners in the Bowen Basin like Anglo American, Glencore and Whitehaven Coal to ship product to clients in Asia under take-or-pay contracts.
While Brookfield listed the world’s largest metallurgical coal export facility on the ASX in 2020 via a $1.3 billion initial public offering, retaining around 49% interest, today’s selldown left it with a 26.25% shareholding.
It’s understood that the block trade handled by Barrenjoey’s equity capital markets team was valued at $428 million.
Meantime, in an attempt to appease market concerns, Brookfield – which remains the stock’s largest shareholder – described Dalrymple Bay as an attractive investment managed by an exceptional team led by CEO Michael Riches.
Meanwhile, the special purpose vehicle, BIP Bermuda Holdings - which holds Brookfield’s remaining stake in Dalrymple Bay - has vowed not to sell any further securities for six months.
Brookfield’s decision to offload a sizable stake yesterday means Dalrymple Bay may end up being added to the ASX 200 Index after September's ASX rebalancing.
Market cap for entry into an ASX index typically requires free-float stocks (and not blocked-traded).
The stock reported $280 million in earnings in FY24, up 7.1% from the previous year.
Dalrymple Bay Infrastructure has a market cap of $1.9 billion; the share price is up 32% over one year and down 8% in the last month.
The stock appears to be in a long-term uptrend confirmed by multiple indicators.
Consensus is Moderate Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
