"The R&D refund is not going to be large. FTT are quite detailed in how they break down R&D (have a look at their half-yearly). As I mentioned previously, the receivable for R&D is only $106k at 30 June 2018 when R&D expenses as a whole (clinical expenses alone are over $2m) are much larger. So I wouldn't expect a huge R&D refund."
There was a note in the HY explaining the $106k amount
(i) In prior years, the Company has included a provision at the half-year for R&D tax rebate for both eligible Australian and overseas R&D
activities in the period. In consideration of the complex nature of the R&D tax ruling for overseas activities as the Company approaches
the end of its current advanced finding on Phase 2 clinical development, in the current period, the Company has included a provision
only for eligible Australian R&D activities. The Company will undertake a detailed review at 31 December 2018 for anticipated R&D tax
rebate for eligible overseas R&D activities undertaken in the full year to 31 December 2018.
FTT Price at posting:
0.3¢ Sentiment: None Disclosure: Held
