Little Green Pharma (ASX:LGP) has announced that it has now received its $5 million research and development rebate (R&D) tax rebate from the federal government.
The company said it had previously factored the rebate with Radium Capital, leaving a balance of $2.8 million. The rebate is in addition to the net $0.36 million R&D rebate received by LGP subsidiary Reset Mind Sciences in the December quarter.
The company said the R&D rebate is the largest it has claimed to date and reflects the significant R&D expenditure it has invested, including sponsoring the QUEST Initiative, which was the largest Quality of Life Study globally demonstrating clinically meaningful impacts in a range of indications, and continuing as a leading supplier to the French Pilot program, which has directly resulted in the opening of that country's market.