Zelira Therapeutics Ltd (ASX:ZLD) Boosts Financial Flexibility with R&D Refund and ATM Facility
Funding and Financial Strength
Zelira Therapeutics Ltd received a $1.153 million R&D Tax Incentive refund, providing non-dilutive funding to advance development programs and support operations. Additionally, the company established a $1 million At-the-Market (ATM) funding facility, offering access to cost-effective standby equity capital over a 12-month term. Post reporting period, Zelira completed the full conversion of US$3.25 million in convertible notes into equity within the HOPE® 1 SPV, strengthening the capital structure and eliminating debt obligations.
Operational Progress
Development of the capsule formulation for HOPE® and Zenivol® using the proprietary Zyraydi™ technology remains on track for mid to late 2025 as part of the Zyraydi™ delivery platform rollout. Zelira continues to focus on disciplined execution across its clinical programs and operational priorities, supporting the advancement of its pipeline and clinical trial preparations.
Executive Comments
Global Managing Director & CEO, Dr Oludare Odumosu, stated, “This quarter marked a steady continuation of our focus on clinical advancement and financial discipline to support the development of our pipeline and operations. We made meaningful progress on preparations for the FDA clinical trial of HOPE® 1, including further engagement with our CRO to finalise the study design in line with prior FDA feedback.”
Motley Fool contributor Lianne Eastty 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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