Quarterly Financial Report
Brisbane, Oct 28, 2020 AEST (ABN Newswire) - Anatara Lifesciences (
ASX:ANR) is pleased to release its Appendix 4C for the quarter ending 30th September 2020. The Company's cash plus term deposits at the end of the quarter stood at $1.59m (30th June 2020: $2.7m). On 30th September 2020, the Company had cash at bank of $1.09m and $0.5m in term deposits.
Net cash outflow during the quarter was 74% higher than the prior quarter due to initiation of the GaRP clinical trial. Continued cash preservation initiatives drove quarterly reductions in staff costs by 17% (-44% on Quarter September 2019) and administration and corporate costs by 5% (-40% on Quarter September 2019).
Aggregate amount of payments to related parties and their associates during the quarter was $85,000 which includes directors' fees and superannuation.
Forecast cash outflow for the December 2020 quarter is anticipated to decrease in comparison to the September 2020 quarter which contained significant upfront costs associated with initiation of the GaRP clinical trial. Anatara also anticipates receipt of an R&D Tax Incentive refund during the December 2020 quarter of $612,967.
Anatara announced during the quarter: (1) initiation of challenge study in poultry with the recently developed bromelain-based formulation (ANR-pf); (2) investor presentation made to the ASX Small and Mid-Cap Conference 2020.
CEO Steve Lydeamore commented, "Anatara is pleased to have successfully completed a placement to progress a clinical study of Anatara's GaRP in irritable bowel syndrome (IBS). In parallel with execution of its human health development plans, the Company has prioritised removing barriers to out-licensing Detach(R) through progression of challenge trials for newly developed formulations for piglets in-feed) and for poultry. The Company anticipates renewed interest in partnering Detach(R) upon successful completion of challenge trials."
To view the report, please visit:
https://abnnewswire.net/lnk/06GG0LR1
About Anatara Lifesciences Limited
Anatara Lifesciences Limited (ASX:ANR) is developing and commercialising innovative, evidence-based products for gastrointestinal health where there is significant unmet need. Anatara is a life sciences company with expertise in developing productsfor human and animal health. Anatara is focused on building a pipeline of human gastrointestinal health products. Underlying this product development program is our commitment to delivering real outcomes for patients and strong value for our shareholders.
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