Imugene (ASX:IMU) secures AU$11.69Mn R&D tax refund for FY23

January 10, 2025 05:54 PM AEDT | By Sonal Goyal

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Imugene (ASX:IMU) secures AU$11.69Mn R&D tax refund for FY23 — Image source: Company update

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Highlights

Imugene has received a research and development (R&D) tax refund of AU$11.69 million for FY23.

The refund includes interest of AU$514,093.

The refund is provided under the Australian Government’s R&D tax incentive.

The funds will be used to advance Imugene’s immuno-oncology clinical pipeline.

Imugene Limited (ASX:IMU) has received an R&D tax refund of AU$11,689,963 for the financial year 2023, which includes AU$514,093 in interest. These funds will be allocated towards the clinical development of its immuno-oncology pipeline.

The refund is part of the Australian Government’s R&D tax incentive, which provides a refundable tax offset of maximum 43.5% for companies conducting eligible activities

IMU shares closed at AU$0.043 per share on 10 January 2025 with a market cap exceeding AU$327 million.

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