Sunday, July 6, 2025
21.7 C
London
HomeFinTechCynata Therapeutics: Welcomes tax incentive refund

Cynata Therapeutics: Welcomes tax incentive refund

Date:

Pair Sentenced to Jail for $15M Crypto Fraud Scheme

A Deep Dive into the Conviction of Cryptocurrency FraudstersHighlights:...

Trump Proposes Tariff Rates of Up to 70% as New Letters Are Sent Out

Exploring the Implications of Donald Trump's Proposed Tariffs on...

The Payments Association Urges Enhanced LGBTQIA+ Diversity in Payment Systems

Advocating for inclusivity in payments to drive innovation and...
  • Biotechnology company Cynata Therapeutics (CYP) has received a research and development (R&D) tax incentive refund of over $1.3 million
  • The R&D tax incentive is a program of the Australian Government, which incentivises companies to conduct research and development which could benefit Australia
  • The tax incentive refund will allow the company to invest further resources in advancing its substantial clinical product pipeline
  • Cynata’s pipeline includes trials in osteoarthritis and COVID-19, with proposed trials for renal transplantation, diabetic foot ulcers, and idiopathic pulmonary fibrosis
  • The refund will also boost the company’s cash position, which was $24.9 million at the end of the December quarter
  • Cynata Therapeutics is up 2.26 per cent and trading at 68 cents per share

Related stories

spot_img

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories