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An announcement from InhaleRx Limited ( (AU:IRX) ) is now available.
InhaleRx Limited has received a $402,000 rebate from its FY2024 Research and Development Tax Incentive claim, which will be used for working capital and partial repayment of a funding facility with Clendon Biotech Capital. Additionally, the company expects an extra $88,000 from an amended FY2023 tax return, further supporting its working capital. This financial boost aids InhaleRx in its continued development of drug-device products, potentially strengthening its market position and benefiting shareholders.
More about InhaleRx Limited
InhaleRx Limited is an Australian drug development company focused on creating unique medicinal drug-device products aimed at addressing unmet medical needs in pain management and mental health sectors. The company is pursuing U.S. FDA approval through rapid and cost-effective regulatory pathways, targeting conditions such as Breakthrough Cancer Pain and Panic Disorder, where current treatment options are limited.
Average Trading Volume: 308,866
Technical Sentiment Signal: Buy
Current Market Cap: A$8.54M
See more insights into IRX stock on TipRanks’ Stock Analysis page.