On 7 January 2019, Cynata Therapeutics (ASX: CYP) came forward and made an announcement about the Notice of Acceptance which it had got from IP Australia. Dr. Paul Wotton is presently acting as the company's Chairman while Dr. Ross Macdonald is acting as the Managing Director and CEO (or Chief Executive Officer).
As per the press release, the company had got Notice of Acceptance from IP Australia with respect to the patent application which covers Cymerus™ mesenchymal stem cell (MSC) technology. Earlier, Cynata Therapeutics had informed that they have got Notice of Allowance with respect to its patent application. This Notice of Allowance has been given by the European Patent Office. The company had received a patent in the US and was given by US Patent and Trademark Office which happens to cover same technology.
Let us now have a brief overview of the management viewpoints. The top management of Cynata had stated that its intellectual property portfolio which happens to revolve around Cymerus therapeutic stem cell platform technology has been witnessing favourable momentum. The press release which got issued on January 7, 2019 also contains the names of the inventors. The patent consists Dr. Gene Uenishi and Professor Igor Slukvin as the inventors. Also, Professor Igor Slukvin happens to be the shareholder, advisor as well as the founder of Cynata.
The press release issued by Cynata Therapeutics also stated that IP Australia gives Notice of Acceptance when they are planning to give a patent. There are expectations that the company might receive the patent by late April 2019 and also that patent would be possessing March 12, 2034 as the date of expiry.
Let us now have a quick and brief look at some of the important announcements which the company had made earlier. In November 2018, Cynata Therapeutics had made an announcement about R&D Tax Incentive Refund. As per the press release dated November 19, 2018, the company got $1,308,551.78 with regards to the R&D Tax Incentive Refund. The issued release also stated that the refund which has been given was for 2017/2018 financial year. It also stated that Tax Incentive Refund happens to strengthen Cynata’s footing from the cash position point of view. As per the press release, R&D Tax Incentive is a program which is offered by the Australian government in which the funds are given as refunds. These refunds are up to 43.5% of the eligible expenditure which are incurred towards the research and development.
We would now be understanding the past performance of the stock. The last traded price of Cynata Therapeutics Limited was A$1.300 per share. The market capitalization of Cynata Therapeutics stood at $130.99 million. In the time span of previous 6 months, the company’s stock has delivered the return of -5.80% while in the previous three months, it had given 1.56% of return. However, the company’s stock had given the return of 27.45% in the span of previous one month.
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