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Noxopharm Ltd. ( (AU:NOX) ) has shared an announcement.
Noxopharm Limited has announced an extension of the maturity date for its convertible notes to January 2027, allowing access to approximately $2.8 million in rebate funds from the Australian Government’s R&D Tax Incentive Scheme. This extension, pending shareholder approval, provides additional working capital and includes an incentive of 520,000 unlisted options for noteholders. Additionally, the company has secured a $1.25 million unsecured loan from 4F Investments, owned by Noxopharm’s Chairman, which may be converted into a convertible note subject to shareholder approval. These financial arrangements aim to support Noxopharm’s ongoing operations and align stakeholders’ interests.
More about Noxopharm Ltd.
Noxopharm Limited is an innovative Australian clinical-stage biotech company focused on discovering and developing novel treatments for cancer and inflammation. The company leverages its proprietary technology platforms, Sofra™ and Chroma™, to enhance mRNA medicines’ safety and build a pipeline of new drugs in oncology and inflammation.
Average Trading Volume: 298,048
Technical Sentiment Signal: Buy
Current Market Cap: A$32.15M
See more data about NOX stock on TipRanks’ Stock Analysis page.