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Alterity Therapeutics | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Feb 29 11:59
Summary by Moomoo AI
Alterity Therapeutics Limited, a biotechnology company focused on neurodegenerative diseases, reported a significant increase in revenue and a decrease in net loss for the half-year ended December 31, 2023. The company's revenue from ordinary activities surged by 940.5% to A$118,400, primarily due to interest received on bank accounts. The net loss after tax for the period was A$6,507,183, a 19.0% improvement from the previous year's A$8,031,937. Despite the loss, the company's net tangible assets per security increased from 0.62 cents to 1.16 cents. Alterity Therapeutics has been actively progressing its clinical and research programs, particularly for its lead compound ATH434, which targets neurodegenerative diseases like Parkinson's and Multiple System Atrophy (MSA). The company completed enrollment for its ATH434-201 Phase 2 clinical trial and expects...Show More
Alterity Therapeutics Limited, a biotechnology company focused on neurodegenerative diseases, reported a significant increase in revenue and a decrease in net loss for the half-year ended December 31, 2023. The company's revenue from ordinary activities surged by 940.5% to A$118,400, primarily due to interest received on bank accounts. The net loss after tax for the period was A$6,507,183, a 19.0% improvement from the previous year's A$8,031,937. Despite the loss, the company's net tangible assets per security increased from 0.62 cents to 1.16 cents. Alterity Therapeutics has been actively progressing its clinical and research programs, particularly for its lead compound ATH434, which targets neurodegenerative diseases like Parkinson's and Multiple System Atrophy (MSA). The company completed enrollment for its ATH434-201 Phase 2 clinical trial and expects to report topline results by January 2025. Additionally, Alterity raised approximately A$10.05 million through financing activities and was granted a refund of A$4.7M from the Australian Taxation Office under the Research and Development Tax Incentive Scheme. The company's financial statements have been prepared on a going concern basis, with the directors expressing confidence in securing additional funding for ongoing research and development.

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