Australia's Noxopharm rises as co gets tax refund

Noxopharm

07/01/2022 02:00

** Shares of drug developer Noxopharm Ltd  NOX.AX  rise as
much as 6.9% to A$0.428 
    ** Co says it received a A$5.9 mln ($4.23 mln) cash refund
under the Australian Government's Research and Development Tax
Incentive Scheme for R&D expenditure during FY 2021  urn:newsml:reuters.com:*:nASX6W24CL
    ** Says refund will strengthen co's cash position 
    ** NOX's stock on track for a weekly gain of 9.6%; shares
gained in three of four trading sessions this week  
    ** NOX stock down 20.4% in 2021
    
    ($1 = 1.3947 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))