Melbourne, Australia; Starpharma Holdings Ltd (ASX: SPL, OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow report for the period ended 31 December 2013.

The cash balance at 31 December 2013 was $27.8 million, a net cash burn of $3.7 million for the quarter. The cash balance excludes the Company’s anticipated R&D tax incentive refund of $4.7 million receivable this financial year.

The cash burn for the quarter includes expenditure relating to a number of clinical trials. This includes the recently commenced Phase 1 clinical trial of DEP^TM Docetaxel, and also the advanced preparations for Phase 3 prevention of bacterial vaginosis (BV) clinical program for VivaGel^®.

During the quarter and ahead of the clinical trial, Starpharma reported highly positive preclinical results for DEP^TM Docetaxel compared to the commercial version of docetaxel (Taxotere^®). Animals treated with Starpharma’s DEP^TM Docetaxel formulation exhibited a lack of neutropenia (low white blood cells). In contrast, animals treated with Taxotere^® exhibited severe neutropenia, a sign of bone marrow toxicity and the most important dose-limiting side effect of Taxotere^® in humans. 

Download ASX Announcement: Appendix 4C - Quarterly Cashflow Report ( pdf file, 316kb)