Novogen receives R&D cash incentive

Company News

Novogen Limited (ASX:NRT) has received a cash refund of $2.8 million from the ATO, under the R&D Tax Incentive Program for the financial year ended 30 June 2015.
The company will use the funds to progress its anti-cancer drug Cantrixil to a Phase 1 clinical trial in 2016.
Novogen says it has completed the necessary GLP toxicology program on Cantrixil to enable a first in-human study. 
The company is currently working with experienced clinicians and expert consultants to finalise the study design.
Novogen reported a net loss of $3.8 million at 31 December 2015.