Annual report and full year financial results

28 August 2017

Melbourne, Australia: Starpharma today released its annual report and financial results for the year ended 30 June 2017.

Financial Results

  • Cash position at 30 June of $61.2M
  • Net proceeds from sale of agrochemicals business to Agrium Inc. of $33.3M
  • Operating and investing cash inflows of $15.7M
  • Net cash burn (excluding net proceeds of agrochemicals sale) of $18.0M[1]
  • Reported profit of $8.2M
  • Reported gain from sale of agrochemicals business of $24.7M
  • Loss from continuing operations of $15.2M
  • Total revenue and other income of $3.6M, including the $2.6M DEP® milestone from AstraZeneca
  • Receipt of previously reported $3.5M R&D tax incentive during the year

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[1] Net cash burn is considered a non-IFRS value and has not been audited in accordance with Australian Accounting Standards. Net cash burn is calculated by the movement in cash and cash equivalents from 30 June 2016 to 30 June 2017, excluding the $33.3 million of net proceeds from the sale of Starpharma’s agrochemicals business. 

 

© Starpharma Holdings Limited 2017