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Imugene (ASX:IMU) To Receive AU$11Mn R&D Tax Refundby January 2025

December 19, 2024 12:14 PM AEDT | By Sonal Goyal
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Highlights

  • IMU has received confirmation for receipt of AU$11 million R&D tax refund for the 2023 financial year.
  • The refund is anticipated by January 2025.
  • Funds will support the clinical development of Imugene's immuno-oncology pipeline.

ASX-listed clinical-stage immuno-oncology company Imugene Limited (ASX:IMU) informed that it has received confirmation from the Australian Taxation Office (ATO) that the pending R&D tax refund for the 2023 financial year, which amounts to approximately AU$11 million, will be paid to the company along with interest. The company expects refund to be processed by January 2025.

Imugene plans to utilise the funds for advancing its immuno-oncology pipeline.

Data source: Company update

IMU shares were trading at AU$0.036 per share at the time of drafting on 19 December 024.


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