Alterity Therapeutics Ltd (NASDAQ:ATHE) announced a A$4.74 million cash refund from the Australian Taxation Office through the Research and Development Tax Incentive Scheme. The refund pertains to eligible R&D costs in the fiscal year ending 30 June 2022, as reflected in audited financial statements. The funds will bolster Alterity’s clinical development, particularly Phase 2 trials for lead drug ATH434, targeting therapy for Multiple System Atrophy (MSA), an untreated Parkinsonian disorder.
Alterity Therapeutics Ltd (NASDAQ:ATHE) Tuesday announced that it has received a A$4.74 million cash refund from the Australian Taxation Office under the Australian Government’s Research and Development Tax Incentive (R&DTI) Scheme.
The cash refund relates to the cost of eligible research and development activities conducted during the financial year ended 30 June 2022, and represents the amount disclosed in the company’s audited financial statements.
These funds will be used to further Alterity’s clinical development and research activities, including the ongoing Phase 2 clinical trials for the Company’s lead drug candidate ATH434 in Multiple System Atrophy (MSA), a Parkinsonian disorder with no approved therapy.
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Source: J2t
