- Recce Pharmaceuticals (RCE) has granted the right to claim a rebate on almost $10 million of research and development (R&D) by AusIndustry
- The award is a big win for Recce as the R&D rebates typically only apply to work done domestically
- Then the new finding means the company can claim around $11.65 million in rebates for research it’s conducting overseas
- After a recent $27.95 million capital raise, the additional rebate funds will also provide the company with a substantial funding runway
- The company is planning a number of trials for its suite of synthetic antiviral compounds to fight antibiotic-resistant superbugs and emerging viral pathogens
- Recce Pharmaceuticals is up 0.83 percent and trading at $1.22
