Argenica Therapeutics Strengthens Assets Despite Losses

Argenica Therapeutics Ltd (AU:AGN) has released an update.

Argenica Therapeutics Limited reported a 54% increase in revenues to $2,790,022 for the year ended 30 June 2024, but also an increased loss of 14% to $(5,479,488), with no dividends declared. The company’s financial activities included a significant R&D tax incentive rebate and government grants, with major expenses being the research and development of a neuroprotective therapeutic drug, ARG-007. Despite the losses, Argenica strengthened its net asset position to $13,950,835, largely due to a successful share placement and the maintenance of a robust cash and cash equivalents balance.

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