Neuren Pharmaceuticals (NEU AU) announced a share buy-back program worth up to A$50M (~3M shares, representing 2.4% of total shares on issue). The 12-month buyback will commence on December 2.
As of September 30, 2024, Neuren has a cash balance of A$210M and the company’s R&D expenses for 1H24 were A$18M. Interest income more than covers Neuren’s corporate expenses.
The buyback announcement follows Neuren’s recent entitlement of one-off income from the sale of partner’s Priority Review Voucher and Daybue’s record high sales in 3Q24.
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