InhaleRx Limited (AU:IRX) has released an update.
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InhaleRx Ltd, an Australian healthcare company focusing on inhaled medicinal products, reported a cash reserve of $465k at the end of Q1 2024, with a net cash outflow of $430k mainly from R&D. The company is making significant progress in its drug development pipeline, preparing for Phase 2 trials of its IRX211 product targeting Breakthrough Cancer Pain and expecting to file an IND application for IRX616a with the FDA in Q2 2024. Additionally, InhaleRx has secured a $500k loan agreement with Peak Asset Management, enhancing its financial position.
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