Cynata Cuts Costs, Targets Cash Runway Into 2028
Closing price · 2026-10-27: $0.011 · +0.00%
Cynata ended September with $175,000 in cash after quarterly operating outflows of $1.3 million, following major cost cuts that included making all employees redundant and suspending or ending outsourced work. After quarter-end, it received an approximately $2 million tax refund, repaid its loan and reported net proceeds of approximately $1 million; the company says cost reductions and its planned entitlement offer are expected to extend its cash runway into the 2028 financial year. The board is assessing options for its Cymerus technology and broader strategic opportunities.