Source: Recce Pharmaceuticals
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Recce Pharmaceuticals (ASX:RCE) has received a $6.75 million Research and Development (R&D) Tax Incentive rebate from the Australian Taxation Office for FY24.

This receipt was used to repay advances from Endpoints Capital reflecting R&D rebate credits for FY24.

The Company is developing a new class of Synthetic Anti-infectives and the injection of funds reflects R&D activities undertaken locally and overseas.

The Australian Government’s 43.5% Research & Development Tax Incentive rebate is intended to incentivise companies to develop new innovative solutions onshore.

“We are delighted to receive this substantial R&D Tax Incentive rebate, which underscores the Australian Government’s strong support for innovation in life sciences,” Recce CEO James Graham said.

“This funding strengthens our ability to drive forward our R&D initiatives both domestically and internationally, accelerating our mission
to develop cutting-edge anti-infective solutions.

“By leveraging this rebate, we continue to push the boundaries of synthetic anti-infective development, positioning Recce to deliver
meaningful advancements in infection treatment on a global scale.”

Recce last traded at 49.5cps.

RCE by the numbers
More From The Market Online
The Market Online Video

ASX Market Update: Unemployment remains steady at 4.1% | November 14, 2024

The ASX200 has been up 0.45% at 8,330 points in afternoon trade. Australia’s unemployment rate remained…
The Market Online Video

ASX Market Close: NAB predicts first rate cut will now be May |November 14, 2024

National Australia Bank (ASX:NAB) has become the first major bank to push out its prediction for…
HotCopper studio & website with Gumtree branding

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Let’s get straight to the point: of all the smallcaps in the Telecommunications index, The Market Ltd…
Group of men in hard hats planning a project

Yangibana 33% complete says Hastings, as it provides clarification on funding

Hastings Technology Metals Ltd has provided an update on how development of the Yangibana project in…