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Rhythm Biosciences Ltd. ( (AU:RHY) ) has issued an update.
Rhythm Biosciences Ltd announced the receipt of a $1.571 million Research and Development Tax Incentive and the repayment of a $1 million loan from Endpoints Capital. The company will continue to participate in the Australian Government’s R&D incentive program, which supports its ongoing research efforts. This financial maneuver strengthens Rhythm’s position in the cancer diagnostics industry, allowing it to focus on its mission of early cancer detection and potentially impacting healthcare costs and patient outcomes positively.
More about Rhythm Biosciences Ltd.
Rhythm Biosciences Ltd is an Australian medical diagnostics company focused on developing simple and affordable blood tests for early cancer detection. The company aims to improve patient outcomes and reduce the global cancer burden through early detection, working with global partners for commercialization and distribution. Founded in 2017 and headquartered in Melbourne, Rhythm Biosciences offers products like the ColoSTAT Test-Kit for colorectal cancer detection and the geneType platform for genetic risk assessment across multiple diseases.
Average Trading Volume: 456,665
Technical Sentiment Signal: Buy
Current Market Cap: A$28.34M
See more insights into RHY stock on TipRanks’ Stock Analysis page.