Recce Pharmaceuticals (RCE) H2 2024 earnings summary

Executive summary

• Advanced clinical development of synthetic anti-infectives targeting antibiotic-resistant superbugs and emerging viral pathogens, with lead asset R327 progressing through multiple clinical trials and receiving global recognition.

• Secured significant funding, including A$54.9m in government grants, A$12.4m capital raise, and US$2m from the US Department of Defense for burn wound research.

• Expanded manufacturing to 5,000 R327 doses per week under GMP, supporting current and future clinical trials.

• Established strategic partnerships, notably with PT Etana Biotechnologies in Indonesia, to accelerate clinical development in Southeast Asia.

Financial highlights

• Operating loss increased to $17.66m (2023: $13.08m) due to higher R&D and consulting costs.

• R&D tax incentive income of $4.91m (2023: $4.31m).

• Cash and cash equivalents at year-end: $4.42m (2023: $1.56m).

• Net liabilities of $9.52m (2023: $2.59m).

• Loss per share: 9.97 cents (2023: 7.52 cents).

Outlook and guidance

• Focus on progressing R327 through late-stage clinical trials, including a planned Phase III trial in Indonesia.

• Continued expansion of manufacturing and clinical trial capacity.

• Ongoing pursuit of additional funding and strategic partnerships to support pipeline advancement.