Opthea Has Received An A$8.8M ($5.9M) R&D Tax Credit From The Australian Taxation Office
Portfolio Pulse from Benzinga Newsdesk
Opthea, a biotech company, has received an R&D tax credit of A$8.8 million (approximately $5.9 million) from the Australian Taxation Office. This financial boost acknowledges the company's research and development efforts.
December 19, 2023 | 11:02 am
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Opthea has received a significant R&D tax credit from the Australian Taxation Office, which could positively impact its financial position and support ongoing research activities.
The R&D tax credit of $5.9M is a substantial amount for Opthea and is likely to be viewed positively by investors. It provides additional resources for the company's R&D activities, which are central to its growth and success in the biotech industry. This news could lead to increased investor confidence and a potential short-term rise in the stock price.
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