Rhythm Biosciences Ltd. (AU:RHY) has released an update.
Rhythm Biosciences Ltd has secured a $1.15 million loan against its anticipated $1.5 million R&D Tax Incentive, aiming to bridge funding before the full rebate is received in November 2024. With a 1.33% monthly interest rate, the loan will support the development of ColoSTAT®, new cancer assays, research, partnerships, and general working capital. The Australian company is dedicated to improving cancer detection and patient outcomes with simple and affordable blood tests.
For further insights into AU:RHY stock, check out TipRanks’ Stock Analysis page.