Viralytics R&D Tax rebate higher than expected
Tuesday, 13 November, 2012
Viralytics (ASX:VLA) got an early Christmas present this week, revealing it received nearly 70% more than originally estimated for its FY12 R&D Tax Incentive rebate.
The company, which is developing prospective cancer treatments from oncolytic viruses, announced it has received nearly $1.5 million from the ATO as an R&D tax rebate for the financial year.
This compares to $871,000 originally estimated in the company's FY12 report.
Viralytics said it will inject the funds back into its oncolytic virus programs, including the in-progress US phase II trial of Cavatak in melanoma.
Cavatak is a proprietary formulation of coxsackievirus A21, a common cold virus which binds to and has a cytotoxic effect on a variety of cancer cells.
Viralytics recently published the results of a phase I dose escalation study of the treatment in stage IV patients with solid tumours.
The company also holds the patents to a formulation of Echovirus Type 1, which uses a different cell surface receptor to bind and infect cancer cells.
Viralytics (ASX:VLA) shares were trading 4.17% lower at $0.345 as of 2:30pm on Tuesday.
Scientists complete final chromosome in synthetic yeast genome
The synthetic chromosome includes features that enable researchers to generate genetic diversity...
Self-destructing vaccine protects against TB in monkeys
A self-destructing vaccine administered intravenously provides additional safety and protection...
New drug to prevent migraine claimed to work straight away
People taking atogepant showed improvement on assessments of how much migraine impaired their...
