Wednesday, September 06, 2017 8:48:12 AM
AmpliPhi Biosciences Announces Receipt of $2.0 Million R&D Tax Incentive
Ampliphi Biosciences Corp. (AMEX:APHB)
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Today : Wednesday 6 September 2017
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AmpliPhi Biosciences Corporation (NYSE American: APHB), a clinical-stage biotechnology company focused on the development of therapies for antibiotic-resistant infections using bacteriophage technology, announces that it has received a Research and Development (R&D) Tax Incentive cash rebate of USD $2.0 million from the Australian Tax Office based on the Company’s R&D spending in Australia during 2016. The Company will recognize the $2.0 million payment received in its financial statements for the quarter ending September 30, 2017.
“The R&D tax rebate is an important source of non-dilutive capital and we appreciate the Australian government’s support as we develop our novel bacteriophage therapies aimed at combatting the growing global threat of antibiotic resistance,” said Paul C. Grint, M.D., CEO of AmpliPhi Biosciences.
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