Invion Limited (ASX:IVX) is pleased to lodge its Appendix 4C for the quarter ending 31 December 2012.
The Company held cash reserves of $3.433 million at the end of December. Cash outflows during the quarter relating to operating expenses ($1.350 million) were lower than the previous quarter ($1.723 million).
Total spend on R&D ($303,000) was higher than the previous quarter ($245,000) in line with project costs associated with the progression of the clinical programs of the company’s two current assets – INV102 (nadolol) and INV103 (ala-Cpn10) – in the following indications: asthma, chronic bronchitis and lupus.
Aggregate amounts of payments to directors ($228,000) is higher than the previous quarter ($171,000) reflecting the executive director salaries of the Managing Director & CEO and Executive Vice President & CMO who were appointed on 1 September 2012.
An Appendix 4C accompanies this announcement.