Noxopharm Limited (ASX:NOX) Reports FY2025 Half Year Results
Financial Performance
Noxopharm Limited reported a loss after tax of $1.24 million for the half-year ended 31 December 2024, a 50.5% decrease from the previous period. The company ended the period with $1.0 million in cash and actively reviewing expenditures to benefit shareholders.
Operational Achievements
The company invested $1.6 million in research and development, up from $1.5 million in the first half of FY24. Noxopharm is preparing for the HERACLES clinical trial for its SOF-SKN™ lupus drug candidate and is pursuing Material Transfer Agreements to leverage interest in its Sofra™ technology platform. Additionally, Noxopharm secured $2.6 million through Convertible Note agreements and signed a Contract Research Organisation to support the HERACLES trial.
Executive Comments
Dr Gisela Mautner, CEO of Noxopharm, stated, “We are maintaining discipline in managing our costs while progressing towards our strategic goals. Our focus right now is on preparing for the upcoming HERACLES clinical trial for our SOF-SKN™ lupus drug candidate, while pursuing further Material Transfer Agreements with other companies to leverage ongoing interest in our Sofra™ technology platform.”
Future Outlook
Noxopharm aims to advance its drug discovery and preclinical studies, enhance its patent strategy, and increase marketing efforts for the Sofra platform to attract commercial partners. The company also reported receiving $1.8 million in advanced funding from Endpoints Capital Pty Ltd, which was repaid with a government R&D tax incentive rebate of $2.34 million.
Motley Fool contributor Kiarra Jackson 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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