Chimeric Therapeutics Cuts Annual Losses

Chimeric Therapeutics Ltd. (AU:CHM) has released an update.

Chimeric Therapeutics Limited reports a significant reduction in its annual loss, down 51.7% to $12,529,849 for the fiscal year ending on 30 June 2024, compared to the previous year. The decrease in losses is attributed to a decrease in staff, lower general and administrative expenses, and a strategic reprioritization of projects. Despite the loss, the company’s cash reserves have increased, indicating a strengthened financial position.

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