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Chimeric Therapeutics (ASX:CHM) shares jump 11% on Thursday. Here’s Why.

November 28, 2024 12:02 PM AEDT | By Sonal Goyal
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Highlights

  • Shares of Chimeric Therapeutics rose 11% to AU$0.01 during early trading hours on 28 November 2024.
  • The company has received an AU$4.17 million R&D tax incentive refund.
  • The refund recognises Chimeric’s R&D contributions during the financial year 2024 (FY24).

Shares of Chimeric Therapeutics Limited (ASX:CHM) opened 11% higher at AU$0.01 per share on Thursday (28 November 2024) following an update on R&D tax incentive. The Australian cell therapy company has received AU$4,172,342 R&D tax incentive refund under the R&D Tax Incentive program of the Australian Government. The refund acknowledges CHM’s research efforts carried out during the financial year 2024 (FY24).

This program offers a tax incentive refund of nearly 43.5% to those companies who are engaged in eligible R&D activities.

About Chimeric Therapeutics

Chimeric Therapeutics is focused on introducing promising cell therapy for patients suffering from cancer. The diversified portfolio of CHM includes allogeneic NK and CAR T cell therapies and Chimeric assets are being developed with three clinical stage programs targeting several disease areas in oncology - CHM CDH17, CHM CLTX and CHM CORE-NK.


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