Recce Pharmaceuticals (RCE) is set to pocket a huge kickback from the government's research and development (R&D) tax rebate scheme
Typically the rebate only applies to work done domestically, but Recce has been granted the right to claim for overseas R&D as well
That means the company will be able to claim the full 43.5 per cent rebate on $17.15 million worth of spending — a kickback totalling more than $7.46 million
The extra funds provide Recce with a substantial cash runway following a recent $27.95 million capital raiseWith over $35 million in the bank to fund the next phases of clinical trials, the company looks well-set to advance its research programs
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