Alterity Therapeutics Limited, a biotechnology company focused on developing treatments for neurodegenerative diseases, has released its preliminary final report for the fiscal year ending June 30, 2024. The report indicates a significant increase in revenue, up 1,533.1% to $268,419, primarily from interest received on the company's bank accounts. Despite the revenue increase, the company reported a net loss after tax of $19,123,464, which is 38.5% higher than the previous year. The net tangible asset backing per share decreased from 0.94 cents to 0.27 cents. No dividends were paid or recommended during the financial year. The company's cash position as of June 30, 2024, was $12,638,885, a decrease from the previous year's $15,773,783. The financial statements are currently being audited, with the audited financial statements and independent auditor's report...Show More

Alterity Therapeutics Limited, a biotechnology company focused on developing treatments for neurodegenerative diseases, has released its preliminary final report for the fiscal year ending June 30, 2024. The report indicates a significant increase in revenue, up 1,533.1% to $268,419, primarily from interest received on the company's bank accounts. Despite the revenue increase, the company reported a net loss after tax of $19,123,464, which is 38.5% higher than the previous year. The net tangible asset backing per share decreased from 0.94 cents to 0.27 cents. No dividends were paid or recommended during the financial year. The company's cash position as of June 30, 2024, was $12,638,885, a decrease from the previous year's $15,773,783. The financial statements are currently being audited, with the audited financial statements and independent auditor's report expected by September 30, 2024. The report also mentions a material uncertainty related to the company's ability to continue as a going concern. Alterity Therapeutics has two wholly-owned subsidiaries in the United States and the United Kingdom. Following the reporting period, on July 17, 2024, the company announced positive interim data from its phase 2 clinical trial for ATH434, which led to a subsequent share issuance through its ATM facility on July 18, 2024, raising additional funds for working capital and research and development activities.