For the latest media releases and news about Pharmaxis Ltd, please select from the following articles. Material news announcements made by Pharmaxis are first filed with the Australian Securities Exchange (ASX) and are also available on the ASX website.

14th Oct 20

Pharmaxis Receives $5m R&D Tax Incentive as Work Progresses on Myelofibrosis Treatment

Pharmaceutical research company Pharmaxis Ltd (ASX: PXS) has received a R&D tax incentive of $5,048,452 in relation to the 2020 financial year. The receipt of this incentive adds to the Company’s cash funds, which were $15 million at 30 June 2020. 

Pharmaxis CEO Gary Phillips said, “The R&D tax incentive is a significant source of non-dilutive funding for the Company’s development of new drugs, providing a 43.5% cash payment in relation to eligible research expenditure. Pharmaxis’ current drug development focus is the commencement of a phase 1/2 clinical trial of its pan-LOX inhibitor PXS-5505 in myelofibrosis which was recently given permission to proceed by the US Food and Drug Administration (FDA) under its Investigational New Drug program. PXS-5055 has also been granted orphan drug designation by the FDA for the treatment of myelofibrosis.”

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