- Recce Pharmaceuticals (ASX:RCE) winds up the September quarter with $8 million in cash
- The company has registered a new trademark in Vietnam
- Recce’s R327 trials continue to support the company’s thesis its flagship anti-infective is superior to mainstream competitor treatments
- Shares last traded at 43.5 cents
Recce Pharmaceutical (ASX:RCE), an ASX-listed company developing a class of anti-infective drugs for the treatment of multiple conditions, has revealed it closed September with $8 million in cash.
Across the quarter, the company wasted no time or energy in progressing itself to becoming a high-impact medical heavyweight.
The company had to shake the tin for $10.7 million, but with the company’s phase one clinical trial data published, the capital wasn’t hard to find.
The company’s flagship Recce 327 drug appears to be a superior drug for the treatment of UTIs, as well as boasting piecemeal evidence the topical gel version can successfully mitigate diabetes-related infections from surgical wounds.
The company also made its first move into Vietnam.
Recce filed four patents with the Australian regulator across the quarter, too. It won back $0.8 million from research and development tax schemes and also won sponsorship from Australia’s trade body Austrade.
That sponsorship saw Recce attend a medical conference in Japan, letting the world know this little Aussie battler was here to shake things up.
RCE shares last traded at 43.5 cents.