Zelira Therapeutics (ASX:ZLD) Secures FDA Funding for Autism Program
Operational Progress
Zelira Therapeutics (ASX:ZLD) has made significant strides in its HOPE® Autism Spectrum Disorder program after securing a fourth funding tranche of US$681,000. This funding supports FDA clinical trial milestones for its proprietary HOPE® 1 product. Total funding received for the program now amounts to US$3.25 million.
Financial Snapshot
Zelira’s net cash flow used in operations for Q2 FY2025 was A$1.077 million. Key operational expenses included A$292,000 for research and development, reflecting increased clinical trial spending. Other costs were A$32,000 for marketing, A$315,000 for staff, and A$278,000 for administrative expenses.
As of 31 December 2024, Zelira reported a cash position of A$38,000.
Future Outlook
The company’s strategy focuses on clinical validation and product development. Zelira aims to initiate FDA clinical trials for both HOPE® 1 and ZLT-L-007, which targets diabetic nerve pain. The company is actively progressing its fundraising efforts to support ongoing clinical initiatives.
Zelira intends to complete the transformation of Zenivol® into a capsule formulation by early 2025, which will broaden its therapeutic offerings.
This announcement has been authorised by the board of Zelira Therapeutics Limited.
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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