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Paradigm Biopharmaceuticals (ASX:PAR) Received $8.2m R&D Tax Refund
June 13th, 2022
The company has advised that the funds will be reinvested in R&D activities and to support its global Phase 3 and Phase 2 clinical programs.
Paradigm Biopharmaceuticals’ R&D offset refund is one of the larger R&D tax offsets reported, alongside the likes of Telix Pharmaceuticals’ R&D tax offset refund of $12.1M for activity undertaken during the year ended 31 December 2020.
Receipt of refundable R&D tax offsets of this magnitude reduces the need for a company to raise additional capital to complete trials, and makes pathway to commercialisation exponentially easier.
In an environment of rising interest rates and lower tech share prices, it becomes more difficult for start up companies to raise capital. The R&D Tax Incentive becomes an even more important source of funding for such companies in these times.
Visit our news page for more recent R&D Tax Incentive developments.
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News & Research
News & Research
News & Research30 April Statutory Deadline for FY23 R&D Claims – One Week to Go
There is one week to go until the deadline for FY23 R&D Registrations. Companies seeking to register R&D Activities conducted during the Year Ended 30 June 2023 (companies that have a Standard YE for tax) who are yet to do […]
The matter concerns an individual charged by the Commonwealth DPP for attempting to unlawfully obtain a refund under the R&D Tax Incentive. Before being charged, the taxpayer was compulsorily examined by the ATO. The individual had applied to stay the […]
