DXB 1.64% 30.0¢ dimerix limited

Ann: Quarterly Appendix 4C and Activities Report, page-2

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    DIMERIX QUARTERLY ACTIVITIES REPORT
    Quarter highlights
    • Last patient completed dosing in FSGS Phase 2 clinical study in June 2020, with data
    expected by end July 2020
    • DMX-200 selected for inclusion in the WHO endorsed REMAP-CAP global study protocol
    for Acute Respiratory Distress Syndrome (ARDS) caused by COVID-19
    • $5.8 million placement to Institutions as well as new and existing sophisticated investors
    completed in June 2020
    • Dimerix received $1.02 million in prepayment of R&D tax incentive claim in April 2020
    • Cash position of $7.8 million at 30 June 2020 ($2.47 million at 31 March 2020)
    MELBOURNE, Australia, 14 July 2020: Dimerix Limited (ASX: DXB) (“Dimerix” or the “Company”),
    a clinical-stage biopharmaceutical company, today announced its Appendix 4C and Quarterly
    Activities Report for the period ended 30 June 2020. Despite COVID-19 global pandemic, the
    Company has gained material traction and momentum across all of its target activities through
    the quarter, executing in line with the strategic plan. The Company continues to consistently
    demonstrate its ability to plan, develop, execute and deliver on its strategic goals.
    Dimerix ended the quarter with cash of $7.8 million ($2.47 million at 31 March 2020), with net
    operating cash outflows for the period of $1.2 million ($1.39 million in the prior quarter) and total
    net operating cash outflows for the 2020 financial year of $4.73 million. The increase in cash for
    the period was a result of a successful $5.8 million capital raise, which was strongly supported by
    Institutions, as well as new and existing sophisticated and professional investors. Additionally,
    Dimerix entered into a non-dilutive funding agreement with Radium Capital, providing $1.02
    million in prepayment of the Company’s R&D tax incentive claim.
    Operating cash outflows for the period comprised predominately of R&D expenditure for Phase
    2 studies, including manufacturing and clinical costs. Whilst increasing R&D spend significantly
    versus previous year, overheads were reduced and the Company finished the year under budget.
    Cost management remains a key priority for the business, with the cost base being carefully
    managed to ensure delivery of a sustainable business beyond the current milestones.
    In accordance with Listing Rule 4.7C, payments made to related parties and their associates
    included in item 6.1 of the Appendix 4C incorporates directors’ fees, salaries and superannuation.
    Dimerix has multiple assets in commercially attractive and growing markets that have a high
    unmet need, and with no current marketed competition, and with a potential fast pathway to
    market. Dimerix has two Phase 2 clinical studies underway: DMX-200 for FSGS (top line data
    expected before the end of July 2020); and DMX-200 for Diabetic Kidney Disease (last patient
    scheduled to receive last dose in July 2020), DMX-700 for chronic obstructive pulmonary disease
    (COPD), and DMX-200 in Acute Respiratory Distress Syndrome (ARDS) in patients with COVID-19
 
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