News and Announcements
Universal Biosensors Product Update
- Published April 01, 2016 3:36PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
1st April 2016, ASX Announcement
Universal Biosenors (ASX:UBI) provides below an update to its product development pipeline.
The company has been conducting a review of its current development projects with a view to prioritising development spend and focusing on projects that most enhance shareholder value.
Associated with this review, UBI management have also noted the eligibility criteria to access the R&D cash rebate which is important to UBI’s net cash flow. In particular, it is a condition of the program that the annual revenue remains below $20 million. It makes very little sense for UBI to chase short term small revenue increases that will take our revenue above this limit.
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