Prescient Therapeutics (ASX:PTX) Receives R&D Tax Rebate of A$1.03m

November 11, 2020 04:18 PM AEDT
Kunal Sawhney

CEO Kunal Sawhney
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Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

ASX-listed oncology company Prescient Therapeutics Limited (ASX:PTX) has received its R&D Tax Incentive rebate amounting to A$1.03 million for the financial year 2019/2020.

This rebate is in addition to the A$18.6 million cash reserves reported in the Quarterly Update of September 2020.

The R&D Tax Incentive is an Australian Government program. It provides companies cash refunds of up to 43.5% of eligible expenditure on R&D.

Prescient stated that rebate was accounted for in its 2020 Annual Report as a receivable and will be reflected in Appendix 4C of December 2020.

On 11 November 2020, the share price of PTX quoted at A$0.064 up by 3.225% at AEST 2:17 PM.

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