Prana receives $3 million R&D Tax Incentive Refund
Prana Biotechnology Ltd (ASX PBT: NASDAQ PRAN) has today announced that is has received a A$3.02 million cash refund under the Australian Government’s R&D Tax Incentive Scheme.
The refund relates to the cost of eligible research and development activities conducted during the 2017 financial year. These funds will be used to further Prana’s research and development activities.
The R&D Tax incentive refund will add to Prana’s strong cash position which was reported as A$19.348M at the end of September 2017.