Imugene Limited (ASX:IMU) Receives $11.7m R&D Tax Refund
Tax Refund Details
Imugene Limited (ASX: IMU) has announced the receipt of an A$11,689,963 research and development (R&D) tax refund for the 2023 financial year. This amount includes A$514,093 in interest and reflects the company’s participation in the Australian Government’s R&D tax incentive program, which allows eligible companies to receive a refundable tax offset of up to 43.5%.
Impact on Clinical Development
The funds from the tax refund will facilitate the further clinical development of Imugene’s immuno-oncology pipeline. This strategic investment aligns with Imugene’s goal of advancing innovative therapies aimed at treating various cancers.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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