- Recce Pharmaceuticals (RCE) ended the December quarter with a cash balance of $15.83 million post research and development (R&D) costs of $1.54 million
- During the quarter, Recce reported positive data from its phase 1 and 2 clinical trial for the treatment of burn wound infections with its R327 technology
- The company also received approval and started phase 1 of an intravenous clinical trial for R327, with the first human cohort successfully dosed with 50 mg in December
- The company says with its strong financial position, it is well placed to continue to deliver upon its overall goals and objectives over the time ahead
- Shares finished the day in the grey, trading at $1.18
Recce Pharmaceuticals (RCE) has ended the December quarter with a cash balance of $15.83 million, post research and development (R&D) costs of $1.54 million.
According to the company, the R&D costs in the quarter supported two active clinical trials and was the largest item of expenditure for the period.
During the quarter Recce reported positive interim data from its phase 1 and 2 clinical trials for the treatment of burn wound infections with its R327 technology.
The company said clinicians reported visible reductions of broad-ranging bacterial infections within the first 24 hours of R327 treatment across all patients treated to date.
Additionally, all patients indicated a complete clinical response, requiring no further treatment. As a result, clinicians adopted a significantly shorter dosing protocol there-after.
The company also received approval and started phase 1 of an intravenous clinical trial for R327, with the first human cohort successfully dosed with 50 mg in December. During this trial, R327 reportedly proved to be safe and tolerable.
The company said with its strong financial position, it is well placed to continue to deliver upon its overall goals and objectives over the time ahead.
Shares finished the day in the grey, trading at $1.18.