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Race Receives $708k R&D Tax Refund
18 January 2022 – Race Oncology Limited (“Race”) is pleased to announce that it has
received a $707,557 Research & Development Tax Incentive Refund from the Australian
Taxation Office for the financial year ending 30 June 2021.
Race’s Managing Director and CEO, Mr Phil Lynch commented: “The increased refund for
FY21 is representative of the enhanced investment we made into R&D as we expanded our
Zantrene clinical and supporting programs. We remain grateful recipients of the Australian
R&D tax incentive, which is an important source of funding for Race and one that encourages
us to keep our research and development work in Australia.”
Receipt of the R&D tax incentive will be added to the Company’s cash balance and
reported in Appendix 4C quarterly cash flow report for the March quarter.