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ASX/NASDAQ ANNOUNCEMENT Appendix 4C: Quarterly Cash Flow Report
MELBOURNE, Australia, July 31, 2019 /PRNewswire/ -- Benitec Biopharma (ASX: BLT, NADSAQ: BNTC) ("Benitec" or the "Company"), a clinical-stage biotechnology
About this update from Benitec Biopharma Inc.
[{"type":"text","content":"MELBOURNE, Australia, July 31, 2019 /PRNewswire/ -- Benitec Biopharma (ASX: BLT, NADSAQ: BNTC) (\"Benitec\" or the \"Company\"), a clinical-stage biotechnology company developing novel genetic medicines via the proprietary DNA-directed RNA interference (ddRNAi) platform combining RNA interference with gene therapy, today announced its Appendix 4C for the quarter ending 31 July 2019.\nHighlights:\nCash reserves of approximately AUD $22 million Streamlined operations through workforce reduction resulting in extended financial runway; retained staff members key to core R&D Financial runway to extend through BB-301 (OPMD) targeted clinical trialJerel A. Banks, M.D. Ph.D., Executive Chairman and Chief Executive Officer of Benitec Biopharma, commented on today's news, \"With cash reserves of $22 million, the Company's current financial position is strong. Management has taken steps to streamline operations and ensure our primary ddRNAi product candidate, BB-301, will progress to receive meaningful data from clinical trials. Management recently conducted a reduction in the workforce to align key staff members with the company's strategic goals. The team we have in place is focused on building value for our shareholders, and we will continue to evaluate all facets of our business to ensure optimal performance.\"\nIn the third quarter 2019, Benitec conducted a workforce reduction of approximately 50%. Through this streamlining of operations, the Company retained staff members who are key to the achievement of its core research and development goals. The current team will continue to work diligently on Benitec's primary asset, BB-301. \nBenitec also reported a strong financial position for the quarter, with a current bank balance for Q2 2019 of approximately AUD $22 million.\nAbout Benitec Biopharma Limited\nBenitec Biopharma Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) is a clinical-stage biotechnology company focused on the development of novel genetic medicines. The proprietary platform, called DNA directed RNA interference, or ddRNAi, combines RNA interference, or RNAi, with gene therapy to create medicines that facilitate sustained silencing of disease-causing genes following a single administration. \nSafe Harbor Statement: \nThis press release contains \"forward-looking statements\" within the meaning of section 27A of the U...