Quarterly Report to December 2014
Adelaide, Jan 30, 2015 AEST (ABN Newswire) - Reproductive Health Science Limited (
ASX:RHS) ("RHS" or the "Company") announces its fourth quarter cash flow report for the year ending 31 December 2014.
Highlights
- Cash on hand at 31 December 2014 amounted to $1.52 Million.
- Operating expenses for the quarter totalled $444K, with continued progress made on the Company's EmbryoCellect(TM) product line.
- Year to date, the Company invested $157K into propert plant and equipment, principally relating to the purchase of a higher capacity Arrayjet Microarrayer printer, ensuring the Company has sufficient capacity to roll out its EmbryoCellect(TM) product line. The Company has secured asset financing for the microarray printer which will see $141k of printer instalments repaid to the Company in February 2015.
- R&D Tax Credit claim for July 2013 to April 2014 has been approved by the Australian Taxation Office; payment of $157k is anticipated in February 2015. A further claim of $57k for R&D expenditure post-transaction from April to June 2014 will be submitted in February 2015.
- On December 24, the Company announced that it had signed a distribution agreement with Turkish-based Tani Medikal. This was the first of two distributor agreements that have been entered into to access significant markets through Indian and Turkish-based distributors.
- RHS training conducted at Morula IVF in Jakarta has been successfully completed in January 2015 enabling the introduction of Pre-implantation Genetic Screening in Indonesia. Morula IVF anticipate offering PGS to their patients in April 2015, once they have fully implemented their in-house laboratory.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RHS-708220.pdf
About Reproductive Health Science Ltd
Reproductive Health Science (ASX:RHS) is an advanced biotech company that has successfully developed a test to assess embryos for chromosomal abnormalities prior to implantation as part of an of In-Vitro Fertilisation (IVF) cycle. The two component system has an immediate application to improve the success rate of IVF. The Company's lead product EmbryoCellect(TM) is aimed at improving health and research outcomes through the application of its frontier technologies with the initial primary focus of improving IVF success. Launched in 2014, EmbryoCellect(TM) contains reagents for 20 tests at a list price of AUD$3,600 per kit. RHS's assumption for business modelling purposes, based on IVF industry experience, is that there are 4 embryos per IVF cycle.
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