Distributions
No dividends have been paid or declared by the group for the current financial year. No dividends were paid for the previous financial year.
Explanation of results
The group reported a loss for the year ended 30 June 2024 of $47,949,119 (30 June 2023: $34,611,195). This increased loss compared to the comparative period is due to the increase in clinical trial and research activities undertaken by the group during the year and increased fair value movements in contingent consideration.
The group’s net assets decreased to $27,353,286 (30 June 2023: $45,579,425). This is primarily due to the amortisation and sale of intangible assets, and increased trade and other payables which is due to the increased progress the group’s research and development activities in the year. As at 30 June 2024, the group had cash reserves of $18,575,040 (30 June 2023: $11,699,066).
The Appendix 4E financial report follows, with the further details to be included in the audited financial statements to be released by 30 September 2024.
Leave a Reply