Starpharma Holdings Limited (ASX: SPL) has received a $4.9 million R&D tax incentive refund related to the cost of research and development during FY19. As per the company, the refund will strengthen the company’s cash position.
For the quarter ended 30 September 2019, the company had a cash balance of $36.8 million, which did not include this receipt.
This refund will allow the company to direct additional resources towards developing its high-value DEP® oncology assets in parallel.
At AEDT 01:18 PM, the stock was trading at 1.305, up by 2.35% from its previous close.
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