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Telix Pharmaceuticals reports receipt of $11.4M Refundable R&D Tax Offset
July 27th, 2020
Melbourne-based Telix Pharmaceuticals Ltd has reported during the week receipt of an $11.4M Refundable R&D Tax Offset in respect of activity conducted during the YE 31 December 2019.
This would be one of the largest single-year Refundable offset receipts in the history of the R&D Tax Incentive and infers an R&D Expenditure of approximately $26M AUD.
The underlying activity relates to the development of diagnostic and therapeutic products using molecularly targeted radiation.
Receipt of a tax offset of this magnitude reduces the need for a company to raise additional capital to complete trials and could make the pathway to commercialization exponentially easier.
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