Quarterly Financial Report
Net cash outflow during the quarter was 74% higher than the prior quarter due to initiation of the GaRP clinical trial. Continued cash preservation initiatives drove quarterly reductions in staff costs by 17% (-44% on Quarter September 2019) and administration and corporate costs by 5% (-40% on Quarter September 2019).
Aggregate amount of payments to related parties and their associates during the quarter was $85,000 which includes directors' fees and superannuation.
Forecast cash outflow for the December 2020 quarter is anticipated to decrease in comparison to the September 2020 quarter which contained significant upfront costs associated with initiation of the GaRP clinical trial. Anatara also anticipates receipt of an R&D Tax Incentive refund during the December 2020 quarter of $612,967.
Anatara announced during the quarter: (1) initiation of challenge study in poultry with the recently developed bromelain-based formulation (ANR-pf); (2) investor presentation made to the ASX Small and Mid-Cap Conference 2020.
CEO Steve Lydeamore commented, "Anatara is pleased to have successfully completed a placement to progress a clinical study of Anatara's GaRP in irritable bowel syndrome (IBS). In parallel with execution of its human health development plans, the Company has prioritised removing barriers to out-licensing Detach(R) through progression of challenge trials for newly developed formulations for piglets in-feed) and for poultry. The Company anticipates renewed interest in partnering Detach(R) upon successful completion of challenge trials."
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About Anatara Lifesciences Ltd
Anatara Lifesciences (ASX:ANR) is developing and commercialising innovative, evidence-based products for gastrointestinal health where there is significant unmet need. Anatara is a life sciences company with expertise in developing products for animal and human health. Anatara is focused on building a pipeline of human gastrointestinal health products. Underlying this product development program is our commitment to delivering real outcomes for patients and strong value for our shareholders. For more information, please visit www.anataralifesciences.com.
Anatara Lifesciences Ltd