On January 18, 2022 Race Oncology Limited ("Race") reported that it has received a $707,557 Research & Development Tax Incentive Refund from the Australian Taxation Office for the financial year ending 30 June 2021 (Press release, Race Oncology, JAN 18, 2022, View Source [SID1234609999]).

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Race’s Managing Director and CEO, Mr Phil Lynch commented: "The increased refund for FY21 is representative of the enhanced investment we made into R&D as we expanded our Zantrene clinical and supporting programs. We remain grateful recipients of the Australian R&D tax incentive, which is an important source of funding for Race and one that encourages us to keep our research and development work in Australia."

Receipt of the R&D tax incentive will be added to the Company’s cash balance and reported in Appendix 4C quarterly cash flow report for the March quarter.