Prana receives $4.8 million R&D Tax Incentive Cash Refund
Prana Biotechnology Limited (ASX PBT: NASDAQ PRAN) has today announced that it has received a A$4.8 million cash refund under the Australian Government’s R&D Tax Incentive Scheme.
The refund relates to the cost of eligible research and development activities conducted during the 2016 financial year. These funds will be used to further Prana’s development of PBT2 for the treatment of Huntington disease and PBT434 for the treatment of various atypical Parkinsonian movement disorders.
The R&D Tax incentive refund will add to Prana’s cash position which was reported as A$25.4M at the end of September 2016.
Prana’s Appendix 4C, First Quarter Cash Report was also lodged today on the ASX.