InhalerX Limited (ASX:IRX) Reports Quarterly Cash Flow Update
Financial Overview
InhalerX Limited (ASX:IRX) recorded a net cash decrease of $97,000 from operating activities in the quarter ending 31 December 2024. The total cash at the end of the period stood at $194,000, with cash flow details indicating total losses for the year reaching $376,000.
The company received $763,000 in government grants and tax incentives, which contributed positively to the cash flow dynamics. The operational outflows included research and development expenditures, staff costs, and corporate expenses. Net cash from operating activities showcased a mixture of positive and negative cash values, illustrating the ongoing financial trajectory as the company progresses.
Investing and Financing Activities
No funds were recorded as being used in investing activities this quarter. However, InhalerX Limited successfully raised $402,000 through equity securities, which aided in financing operations despite a repayment of $546,000 on borrowings during the same timeframe.
The firm secured a $38.5 million funding facility from Clendon Biotech Capital aimed at supporting clinical trial costs for the IRX-211 and IRX-616a drug development plans. Terms of the facility require that funds be specifically allocated for clinical costs, with repayments tied to the successful completion of Phase 2 trials.
Key Remarks
The company’s focus remains on raising additional capital to cover corporate overheads and sustaining development efforts. As noted by the Board of InhalerX Limited, there are no amounts drawn down under the facility as of quarter-end, emphasizing a cautious financial management approach while pushing forward on drug development initiatives.
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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