Sydney, April 28, 2016 - (ABN Newswire) - Regeneus Ltd (ASX:RGS) - Quarterly results for the period ended 31 March 2016
The Company's Appendix 4C - Quarterly Cash Flows in link below.
The financial highlights for the quarterly reporting period included:
- Achieved better than targeted net operating cash flow for the quarter. Cash outflow for the quarter was $1.44 million. Cash flow is tracking consistently better than the target of $1.70 million per quarter.
- The quarterly cash outflows, excluding R and D Tax Incentive of $3.4 million received in October 2015, are as follows:
September quarter $ 1.55 million
December quarter $1.47 million
March (current) quarter $1.44 million
The company has, in principle, finalised a funding arrangement for $2.0 million. This facility forward funds, via a loan, the Federal Government's research and development tax incentive for FYl6. The facility allows the company to draw down up to $2.0 million to b e repaid upon receipt of the incentive. Current estimates of the incentive are in excess of $2.5 million and consistent with prior years, should be received FYl7 quarter 2.
This facility will provide the funds required for ongoing development while the company finalises the licensing, of its Progenza mesenchymal stem cell therapy technology for the Japanese market.
Cash position as at 31 March 2016 is $1.97 million (31 December $3.40 million). These funds will support the clinical trials and operating activities throughout FY16.
To view the cash flow, please visit: http://abnnewswire.net/lnk/UC0XF47K
WEB: Appendix 4C - Quarterly
About: Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a clinical-stage regenerative medicine company developing a patented portfolio of therapies to address significant unmet medical needs in the human and animal health markets. The company has a number of therapies targeting human conditions in various stages of development including two products in first-in-human Phase I trials: Progenza is an allogeneic off-the-shelf adipose stem cell therapy to treat osteoarthritis and other musculoskeletal conditions; RGSH4K is a human autologous personalised therapeutic cancer vaccine to treat a wide range of cancer types.
Furthermore, Regeneus is developing therapies to target acne and other inflammatory skin conditions in humans, in addition to musculoskeletal and oncology treatments for animals.
The Company's Appendix 4C - Quarterly Cash Flows in link below.
The financial highlights for the quarterly reporting period included:
- Achieved better than targeted net operating cash flow for the quarter. Cash outflow for the quarter was $1.44 million. Cash flow is tracking consistently better than the target of $1.70 million per quarter.
- The quarterly cash outflows, excluding R and D Tax Incentive of $3.4 million received in October 2015, are as follows:
September quarter $ 1.55 million
December quarter $1.47 million
March (current) quarter $1.44 million
The company has, in principle, finalised a funding arrangement for $2.0 million. This facility forward funds, via a loan, the Federal Government's research and development tax incentive for FYl6. The facility allows the company to draw down up to $2.0 million to b e repaid upon receipt of the incentive. Current estimates of the incentive are in excess of $2.5 million and consistent with prior years, should be received FYl7 quarter 2.
This facility will provide the funds required for ongoing development while the company finalises the licensing, of its Progenza mesenchymal stem cell therapy technology for the Japanese market.
Cash position as at 31 March 2016 is $1.97 million (31 December $3.40 million). These funds will support the clinical trials and operating activities throughout FY16.
To view the cash flow, please visit: http://abnnewswire.net/lnk/UC0XF47K
WEB: Appendix 4C - Quarterly
About: Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a clinical-stage regenerative medicine company developing a patented portfolio of therapies to address significant unmet medical needs in the human and animal health markets. The company has a number of therapies targeting human conditions in various stages of development including two products in first-in-human Phase I trials: Progenza is an allogeneic off-the-shelf adipose stem cell therapy to treat osteoarthritis and other musculoskeletal conditions; RGSH4K is a human autologous personalised therapeutic cancer vaccine to treat a wide range of cancer types.
Furthermore, Regeneus is developing therapies to target acne and other inflammatory skin conditions in humans, in addition to musculoskeletal and oncology treatments for animals.
