Recce Pharmaceuticals Ltd (ASX: RCE) announced a Research and Development (R&D) Tax Incentive rebate of AUD AU$6.75 million for the year ending June 30, 2024. This substantial rebate, issued by the Australian Taxation Office, underscores the government’s support for innovation, allowing the company to reinvest in global R&D initiatives. The funds were used to repay advances from Endpoints Capital, which helps Recce leverage R&D rebate credits. CEO James Graham highlighted the funding as vital to advancing Recce's synthetic anti-infective pipeline, aimed at addressing antibiotic-resistant superbugs and viral pathogens.
Recce’s key candidates include RECCE 327 (for bacterial infections), RECCE 435 (oral bacterial therapy), and RECCE 529 (for viral infections). Notably, RECCE 327 has been recognized by both the World Health Organization and the FDA as a priority development for tackling antimicrobial resistance, with FDA fast-track designation and exclusive market rights for a decade post-approval.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
