Wednesday, June 12, 2024
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Imugene: Receives $4.8M tax rebate on cancer research

  • Clinical-stage immuno-oncology company Imugene (IMU) has received a hefty tax rebate for its research and development (R&D) spending
  • The company has banked a little over $4.82 M as part of the Australian government’s R&D tax incentive program
  • The scheme also provides eligible Australian companies with an offset or refund of up to 43.5 percent of annual research spending
  • Then the company has a number of therapies in the pipeline to treat tumours, harnessing the body’s immune system to fight cancer’s growth and spread
  • With an extra $4.82M on hand, the company will well funded and resourced to continue the development of its potentially life-saving immunotherapies
  • Imugene closed Thursday’s session grey at 11.5. cents

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