Zelira Therapeutics operational progress in Q4 FY2024

Zelira Therapeutics Ltd (ASX: $ZLD) has made significant operational progress in Q4 FY2024, including the receipt of the third tranche of SPV funding totaling US$681k, a A$919k R&D Tax Incentive refund, and achievements in post quarter-end milestones. The company continues to advance its HOPE FDA trial process and remains focused on clinical validation and product development.

Executive Commentary on Operational Progress

Zelira's Global Managing Director & CEO, Dr Oludare Odumosu, expressed satisfaction with the operational progress in Q4 FY2024. He highlighted the significance of receiving the third tranche of funding via the HOPE SPV, totaling US$681k, and the A$919k R&D Tax Incentive refund. Dr Odumosu emphasized the critical role of these funds in advancing negotiations with the FDA and progressing the clinical trial program for the proprietary and patent-protected HOPE® 1 product. He also noted the company's achievements in securing leading patents for HOPE® 1 and HOPE® 2, as well as the successful pre-IND meeting with the FDA, marking a significant advancement in Zelira's HOPE® autism drug program.

Summary of Zelira Therapeutics Q4 FY2024 Activities and Outlook

Zelira Therapeutics (ASX: $ZLD) has demonstrated substantial progress in Q4 FY2024, with key achievements including the receipt of SPV funding, R&D Tax Incentive refund, and post quarter-end milestones. The company's focus on advancing the HOPE FDA trial process and securing funding for clinical trials reflects its commitment to clinical validation and product development. Zelira's strategic outlook involves progressing discussions with potential manufacturing partners for both HOPE1 and Zenivol®, as well as evaluating the further progression of ZLT-L-007 into formal FDA clinical trials. The company's ambitions include developing and clinically validating branded cannabinoid-based medicines for the treatment of various medical conditions, while also expanding its commercialization efforts for proprietary formulations and products. Zelira's continuous focus on clinical validation and product development underscores its commitment to advancing cannabinoid-based medicines for global markets.