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Opyl executive director demonstrates confidence in biotechnology strategy with on-market purchase

The company provides leading biopharma and health organisations with access to emerging AI-assisted technologies and real-world data insights to understand and improve healthcare and clinical trial design, development and delivery.

Opyl Ltd -
Opyl works at the intersection of clinical trials, artificial intelligence (AI) and social media

Opyl Ltd (ASX:OPL) executive director Damon Rasheed has demonstrated confidence in the company’s biotechnology strategy with the purchase of shares in an on-market transaction.

Rasheed acquired 42,267 shares at 16.5 cents per share on January 18 in a direct interest, increasing the number of securities held after the change to 112,267 shares.

Research and development tax refund 

The company last quarter received a $249,000 R&D tax rebate from the Australian Tax Office which CEO Michelle Gallaher said was fundamental to the company’s continued investment in artificial intelligence and health data research.

She said: “It’s sincerely encouraging that we can optimise the continued investment in our AI-based platforms and tools, while at the same time keep cash flows stable as we lean into and open up current and emerging revenue opportunities.

“This puts the business in a stronger financial position.”

As a small company implementing an ambitious pivot in a particularly uncertain global business environment, the 43.5% R&D tax incentive will contribute to Opyl’s forecasted cash flow positive current quarter.

Quick facts: Opyl Ltd

Price: 0.17 AUD

ASX:OPL
Market: ASX
Market Cap: $6.27 m
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