Pharmaust Limited (AU:PAA) has released an update.
PharmAust Limited, a biotech company advancing treatments for neurodegenerative diseases, has received a significant R&D Tax Incentive Rebate of $887,129 from the Australian Federal Government and anticipates an additional rebate of $655,274. The funds will support the company in its Phase 2/3 clinical trials for ALS, manufacturing, and other operational needs. This financial boost aligns with the company’s ongoing efforts to repurpose its drug MPL for ALS treatment, amidst a growing neurodegenerative disease market.
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