Radiopharm (ASX:RAD) secures AU$1.56Mn tax refund for FY22 R&D activities

By - Ankit Sethi

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Highlights 

  • The tax refund would provide funding for continued development of the company’s portfolio of radiopharmaceutical products
  • Radiopharm recently announced a two-year partnership with cancer research centre GenesisCare
  • The company is set to attend the Jefferies Radiopharma Innovation Summit in New York next month

Australia's oncology space player Radiopharm Theranostics (ASX: RAD) has updated the market on research and development (R&D) tax refund. The company's R&D works during the 2022 financial year have been recognised, and a tax refund of over AU$1.56 million has been released in favour of RAD.

Recently, the company had also informed about its collaboration with GenesisCare for Phase 1 clinical trials of radiopharmaceutical nanobodies in Australia.

RAD's shares traded at AU$0.17 at the time of writing on 28 March 2023.