AdAlta Secures Financial Boost with RDTI Refund

AdAlta Ltd. (AU:1AD) has released an update.

AdAlta Limited, an Australian biotech firm, has bolstered its financial position by receiving a $1.77 million Research and Development Tax Incentive refund for FY2024, which facilitated the full repayment of a $1.40 million government loan and added $0.37 million to its cash reserves. The refund underscores the significance of the RDTI scheme in supporting R&D in the biotechnology sector, providing companies like AdAlta with vital funds to progress their innovative research, such as their lead i-body® enabled candidate for treating lung fibrosis.

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