22 November 2024
Appendix 4C - Quarterly Cashflow Statement
Melbourne, Australia; Starpharma Holdings Ltd (ASX: SPL, OTCQX: SPHRY) today released its Appendix 4C – Quarterly Cashflow report for the period ended 30 September 2014.
The cash balance at 30 September 2014 was $37.2 million. This includes the net proceeds of Starpharma’s $18 million equity placement but does not include the recently announced $3.5 million proceeds from the share purchase plan, or the $4.2 million R&D tax incentive refund received in October. The operating and investing cash out flow for the quarter was $4.2 million which includes expenditure related to the phase 3 VivaGel® clinical program, as well as the DEPTM docetaxel clinical trial and standard operating expenses.
Starpharma’s strong cash position will allow the Company to fund advancement across all areas of the business including the completion of phase 3 trials of VivaGel® for the prevention of recurrent bacterial vaginosis (BV) and accelerating DEP™ docetaxel through completion of phase 1 and into phase 2 trials.
Recently Starpharma achieved a major milestone for its VivaGel® condom, now available for purchase from Woolworths stores in Australia under Ansell’s brand, LifeStyles® Dual Protect™. Starpharma receives royalties on the sale of the Dual Protect™ condom with VivaGel®.
The VivaGel® condom is a world-first product based on Australian innovation. It is the only condom which incorporates the additional benefit of an antiviral lubricant, VivaGel®, shown in laboratory studies to achieve viral inactivation rates of up to 99.9%.
The availability of the VivaGel® condom in Australia represents the first marketed product for Starpharma’s VivaGel® portfolio, and the first of three women’s health and sexual wellness VivaGel® products that are in various advanced stages of development and commercialisation.
Chief Executive Officer Dr Jackie Fairley said: “Starpharma has entered an exciting period with the VivaGel® condom now available for sale and the next wave of products continues to advance through clinical testing and market registration, positioning the Company well for 2015 and beyond.”
Download ASX Announcement: Appendix 4C - Quarterly Cashflow Report ( pdf file, 119kb)