Rua Bioscience has today announced its financial results for the six months to 31 December 2021, reporting a loss after tax of $2.46m, with total cash and investments on hand at the end of the period of $12.29m.
During this period, the company achieved several critical milestones in its strategy, gaining GMP certification and receiving verification that its first medicinal cannabis product meets the NZ Medicinal Cannabis Agency's (Medsafe's) quality standards.
These milestones enable the company to distribute its first medicine in New Zealand, which it intends to do by the end of March or early April 2022.
Other highlights during the period included entering a conditional agreement to purchase Zalm Therapeutics and securing significant Callaghan Innovation funding.
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