Summary by Moomoo AI
Alterity Therapeutics Limited, a development stage biotechnology company, reported a net loss of A$19,123,464 and a net operating cash outflow of A$12,605,824 for the fiscal year ended June 30, 2024. The company, which focuses on developing therapeutic drugs for neurodegenerative diseases, acknowledged the need for additional capital to continue its research and development programs. Despite the losses, Alterity has a tax incentive receivable of A$4,019,285 and remains optimistic about its ability to raise necessary funds. The company's financial statements were prepared under the assumption that it will continue as a going concern, with the acknowledgment of material uncertainties that may cast significant doubt on this assumption. Alterity's financial activities are subject to risks including market risk, credit risk, and liquidity risk, with management actively monitoring cash flow forecasts. The company's shares are listed on the ASX under the symbol 'ATH' and on the NASDAQ Capital Market under 'ATHE'.
