Less than 1 min.Read

Recce Pharmaceuticals: Awarded another big R&D rebate

December 8, 2020

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