Our cancer cure hopeful Viralytics Ltd (VLA) has collected a $1.467 million reimbursement from the Australian Taxation Office for research and development expenditure incurred in the 2011-12 financial year.
This is greater than the $871,000 originally estimated in the company’s 2012 published annual report, thus enhancing funds available to maintain its promising clinical trials including its Phase 11 melanoma study in the USA and other potential indications including bladder cancer.
The company’s executive chairman, Paul Hopper, also reported that Viralytics had delivered a paper last week to an international symposium in Dublin, Ireland, on the progress of its CAVATAK oncologic virus in treating late stage melanoma, prostate, breast and colorectal patients.
In the current depressed overall market, the news did nothing to enhance investor enthusiasm. After trading 813,000 shares to a high last week of 46.5c, Viralytics shares drifted back yesterday to trade at 35.5c.
New chief executive for Viralytics
Viralytics’ Paul Hopper today announced the appointment of Starpharma Holdings vice -president Dr Malcolm McColl as the new chief executive of Viralytics (VLA).
From 2010, Dr McColl was vice -president of business development at Starpharma (SPL) and before returning home of Australia in 2010, he spent three years based in the UK at NYSE-listed company Hospira as business development director for Europe, the Middle East and Africa.
Prior to that he was director of business development Asia-Pacific for Hospira (previously Mayne Pharma), and also spent 13 years with CSL in its animal health division (including four years based in the US).
Dr McColl holds a Bachelor of Veterinary Science degree with first class honours from the University of Melbourne, and an MBA from Melbourne Business School.
VLA Price at posting:
38.2¢ Sentiment: LT Buy Disclosure: Held
