Paradigm Receives $5.75m R&D Tax Incentive Refund
Key points
- Paradigm received $4.82m R&D Tax Incentive refund for FY25
- Additional $0.93m refund from amended FY23 income tax assessment
- Total cash receipts of $5.75m strengthen company's balance sheet
- Funds to support Phase 3 osteoarthritis clinical program
- Additional flexibility for regulatory and global partnering initiatives
Full summary
Paradigm Biopharmaceuticals Ltd, a late-stage drug development company, announced that it has received a $4.817 million Research & Development (R&D) Tax Incentive refund for the financial year ended 30 June 2025, including interest, and a $927,317 refund from an amended FY23 income tax assessment. These cash receipts totaling approximately $5.75 million will strengthen the company's financial position and support its strategic priorities, including the progression of its Phase 3 clinical program for the treatment of knee osteoarthritis and ongoing regulatory and New Drug Application (NDA) activities.
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