Chimeric Therapeutics (ASX:CHM) secures AU$3.06Mn in R&D tax refund

February 14, 2023 06:20 PM AEDT | By Team Kalkine Media

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Chimeric Therapeutics (ASX:CHM) secures AU$3.06Mn in R&D tax refund — Image source: © Gajus | Megapixl.com

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Highlights

Chimeric Therapeutics (ASX:CHM) has received a tax incentive of AU$3.06 million for its R&D activities during FY22.

The refund will provide additional funding to Chimeric, aiding in advancing its cell therapy portfolio.

The research and development (R&D) efforts by Chimeric Therapeutics (ASX:CHM) have secured a significant recognition.

In the latest announcement, the clinical-stage cell therapy company updated to have secured a tax refund of AU$3.06 million for expenditure on research & development (R&D) activities undertaken during the 2022 financial year (FY22).

The tax refund falls under the R&D tax incentive program of the Australian Government. Under the program, companies that are catering to eligible operations can get a refundable tax offset of up to 43.5%.

The refund will provide Chimeric with important funding, aiding in progressing with the development of its portfolio of cell therapies.

CHM portfolio (data source: company update)

CHM shares traded at AU$0.0.73 on 14 February 2023.

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