Prescient Therapeutics (ASX: PTX) receives R&D Tax Rebate of $2.4M

November 28, 2023 04:01 PM AEDT | By Manisha
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • Prescient Therapeutics has received AU$2.4 million as R&D Tax Incentive rebate for FY23.
  • R&D Tax Incentive is given under a government program providing firms cash refunds of up to 43.5% of eligible R&D expenses.
  • PTX is engaged in developing targeted and cell therapies for cancer treatment.

In the latest announcement, clinical-stage oncology company Prescient Therapeutics Limited (ASX: PTX) revealed the receipt of AU$2.4 million as R&D Tax Incentive rebate for the financial year 2023. This amount received by PTX is in addition to the AU$18.7 million cash reserves posted in the last quarter ended 30 September 2023.

The R&D (research and development) Tax Incentive falls under a program run by the Australian Government providing firms cash refunds of up to 43.5% of eligible R&D expenses.

Also read: Encouraging outcomes from Prescient Therapeutics’ (ASX:PTX) clinical-stage assets light up last quarter

Share price performance
PTX shares have gained over 38% in the past one month. At the time of writing this article on 28 November 2023, the stock was spotted trading at AU$0.083, approximately 6.4% higher from the last closing price. The company has a market cap of over AU$54 million.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Two ASX Listed Stocks Giving Bullish Indications

Recent Articles

Investing Tips

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.