Pharmaxis Receives Aptar Option Exercise Fees of US$5m
16th
Aug 22
Release Date: 16/08/2022 9:35am
Clinical stage drug developer Pharmaxis (ASX: PXS) announced it has now received US$5.0 million (A$ 7.0 million net of applicable withholding taxes) from Aptar Pharma following the exercise of its options to acquire the Pharmaxis Orbital technology as announced on 4 August 2022.
Pharmaxis reported cash funds of A$9 million at 30 June 2022 in its quarterly shareholder update and its expectation of receiving $5 million from its 2022 R&D tax incentive later in the year. The receipt from Aptar increases the Pharmaxis proforma cash balance at 30 June 2022 to A$21 million.
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