Rua Bioscience burns through $6.2m

Rua: R&D spending up. (Image: Supplied)

Mon, 30 Aug 2021

Listed medicinal cannabis firm Rua Bioscience almost doubled its cash burn rate for the year to June, recording a loss before tax of $6.17 million, from a loss of $3.59m last year.That was after research and development spending jumped to $1.9m, from $1.29m in 2020, reflecting the costs of developing the firm’s product lines, and investment into cultivation and manufacturing. The East Coast-based firm’s income came in the form of a government research and development grant of $357,366 and a covid wage subsidy of $91,636. It emp...

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