Firebrick Pharma's R&D Tax Incentive Payment Announcement

Firebrick Pharma Limited (ASX:FRE) has received an R&D Tax Incentive payment of $919,656 for eligible R&D expenditure incurred in the 2023/24 financial year. The incentive payment is related to $2.114 million in reported R&D costs, primarily associated with the completion of two clinical trials in the first half of FY24: a Phase 2 COVID-19 study and a Phase 3 common cold study.

Executive Commentary on R&D Tax Incentive Payment

We welcome the valuable injection of non-dilutive funds from the R&D tax incentive.

Summary of Firebrick Pharma's R&D Tax Incentive Announcement

Firebrick Pharma (ASX:FRE) has received a $919,656 R&D Tax Incentive payment for eligible R&D expenditure in the 2023/24 financial year. The payment is related to $2.114 million in reported R&D costs, primarily associated with the completion of two clinical trials: a Phase 2 COVID-19 study and a Phase 3 common cold study. Dr. Peter Molloy, Executive Director of Firebrick Pharma, expressed the company's appreciation for the non-dilutive funds received through the incentive. Firebrick Pharma is a pharmaceutical innovator focused on developing and commercializing novel formulations and uses of povidone-iodine (PVP-I), with successful development of a PVP-I nasal spray (Nasodine® Nasal Spray) and ongoing commercialization efforts in international markets.