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Noxopharm Ltd. ( (AU:NOX) ) has provided an announcement.
Noxopharm has received a $2.8 million rebate under the Australian Government’s R&D Tax Incentive scheme for FY2025, bolstering its cash reserves as it advances its Sofra technology platform and HERACLES clinical program. The funding supports preparation for next-phase clinical trials, expanded external collaborations and further development of Sofra-based drug candidates, including SOF-SKN for cutaneous lupus, which targets a global market exceeding US$3.3 billion amid broader growth in autoimmune and immuno-oncology therapeutics.
The most recent analyst rating on (AU:NOX) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Noxopharm Ltd. stock, see the AU:NOX Stock Forecast page.
More about Noxopharm Ltd.
Noxopharm Limited is a clinical-stage Australian biotechnology company focused on discovering and developing novel treatments for cancer and inflammatory diseases, including technologies to improve the safety of mRNA medicines. Its pipeline is built on two proprietary platforms, Sofra for inflammation, autoimmunity, mRNA enhancement and oncology, and Chroma for oncology, targeting large and growing global markets in autoimmune disease and immuno-oncology.
Average Trading Volume: 172,577
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$20.46M
Learn more about NOX stock on TipRanks’ Stock Analysis page.