Appendix 4C - Quarterly
Sydney, April 28, 2016 AEST (ABN Newswire) - Regeneus Ltd (
ASX:RGS) - Quarterly results for the period ended 31 March 2016
The Company's Appendix 4C - Quarterly Cash Flows in link below.
The financial highlights for the quarterly reporting period included:
- Achieved better than targeted net operating cash flow for the quarter. Cash outflow for the quarter was $1.44 million. Cash flow is tracking consistently better than the target of $1.70 million per quarter.
- The quarterly cash outflows, excluding R and D Tax Incentive of $3.4 million received in October 2015, are as follows:
September quarter $ 1.55 million
December quarter $1.47 million
March (current) quarter $1.44 million
The company has, in principle, finalised a funding arrangement for $2.0 million. This facility forward funds, via a loan, the Federal Government's research and development tax incentive for FYl6. The facility allows the company to draw down up to $2.0 million to b e repaid upon receipt of the incentive. Current estimates of the incentive are in excess of $2.5 million and consistent with prior years, should be received FYl7 quarter 2.
This facility will provide the funds required for ongoing development while the company finalises the licensing, of its Progenza mesenchymal stem cell therapy technology for the Japanese market.
Cash position as at 31 March 2016 is $1.97 million (31 December $3.40 million). These funds will support the clinical trials and operating activities throughout FY16.
To view the cash flow, please visit:
http://abnnewswire.net/lnk/UC0XF47K
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies. The regenerative therapies seek to address unmet medical needs in human health markets, focusing on neuropathic pain, including osteoarthritis and various skin conditions, with its platform technologies Progenza(TM) and Sygenus. Visit www.regeneus.com.au for more information.
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