Appendix 4C - Quarterly Cashflow Report
Starpharma 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.
Starpharma commences Dendrimer-Docetaxel clinical trial
Starpharma today announced that it has received the necessary approvals to commence a phase 1 human clinical trial for its dendrimer-enhanced docetaxel (Taxotere®) chemotherapeutic product, referred to as DEP™-Docetaxel.
The trial will be conducted exclusively in Australia, at Nucleus Network's clinical facility at the AMREP/Alfred Hospital initially, with the plan to add 1 to 2 additional sites in the near future.
Starpharma to recoup additional $2 million for overseas R&D
Starpharma today announced that following a submission to AusIndustry, it is eligible to receive an additional estimated A$2.3 million cash in R&D tax incentive for overseas R&D activities for its Dendrimer-Docetaxel program.
Starpharma will also receive the 45% R&D tax incentive for eligible Australian expenditure for the Dendrimer-Docetaxel program, including the clinical trial that will commence shortly.