Join our daily newsletter At The Bell to receive exclusive market insights
Microcap Chimeric Therapeutics (ASX:CHM) has confirmed its receipt of a $4.17 million tax rebate from Canberra for R&D activities.
The cell therapy tech developer now sits on a >$4M cash injection, which – as HotCopper users in the announcement thread pointed out – is around half of the nanocap’s overall capitalisation.
The R&D rebate comes from the well-known Australian government 43.5% tax offset offered to companies conducting research activities on new technologies.
A wide range of pursuits make a company eligible for the R&D offset, but the program has its critics – many companies may be inclined to pick up ‘greenwashing’ type pursuits just to get more money back off the rebate than what those commercialised opportunities could have provided.
The program is also a legitimate lifeline – especially for companies on the smaller end.
The company is closely watched at times, given it’s ultimately tackling leukaemia.
In October, the stock saw a bit of action when it reported at least one patient in an ongoing blood cancer trial showed a “complete response” to Chimeric’s therapy.
The company is ultimately seeking to combine standardised chemo drugs with natural immune system cells the human body produces.
CHM last traded at 1cps.
Join the discussion: See what HotCopper users are saying about Chimeric and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
