Noxopharm Limited (ASX:NOX) today reported its financial results for the half-year ended December 31, 2024.
Financial Performance
- Loss from ordinary activities after tax decreased by 50.5% to $1.23 million.
- Net tangible assets per share declined from 1.88 cents to 1.48 cents.
Despite the financial challenges, Noxopharm maintained discipline in managing costs while advancing its drug discovery and preclinical studies.
Operational Highlights
- Investment in R&D of $1.6 million, primarily focused on drug discovery and preclinical studies.
- Initiation of the HERACLES clinical trial for the company’s SOF-SKN™ lupus drug candidate.
- Execution of several Material Transfer Agreements (MTAs) to evaluate the potential of the company’s Sofra™ platform.
CEO Comments
Dr. Gisela Mautner, CEO and Managing Director, commented: “We are maintaining discipline in managing our costs while progressing towards our strategic goals. Our focus is on preparing for the HERACLES clinical trial and exploring further partnerships to leverage interest in our Sofra technology platform.”
Future Outlook
Noxopharm continues to focus on developing and commercializing novel treatments for cancer and inflammation. The company expects to receive funding for its Australian Government R&D Tax Incentive scheme rebate in the near future and remains open to strategic partnerships and investment opportunities.
