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ASX Release SUDA PHARMACEUTICALS LTD ACN 090 987 250 Appendix 4C : Second Quarter FY 2021 Activities Report PERTH , AUSTRALIA - 25 January 2021 : SUDA Pharmaceuticals Ltd ( ASX : SUD ) , a leader in oro - mucosal drug delivery , today released its Appendix 4C for the consolidated group for the second quarter of FY 2021 . Highlights • End of period cash balance of $ 5.47m • SUDA received a refund under the R & D Tax Incentive Program of $ 0.662m from the Australian Taxation Office • • Successful capital raise of $ 2.76m Management continued to identify and evaluate a number of technologies in the fields of oncology and the central nervous system . During the quarter ended 31 December 2020 , the Company was pleased with the following developments : • • SUDA received a $ 0.662m refund from the Australian Taxation Office as a part of the R & D Tax Incentive Program . For FY 2020 , SUDA committed $ 1.52m to R & D to support ongoing development of its oral spray projects , including the development of anagrelide . The company announced that it had completed a Placement to existing and new sophisticated investors . The proceeds will be used by SUDA to continue advancing the development of its OroMist products , to identify and evaluate technologies for potential acquisition and for working capital . • The Management team continued to identify technologies from leading research institutes . Current opportunities are being evaluated and SUDA intends to secure the technology that it believes best fits with its short to long term strategic objectives . Dr Baker commented “ It was very pleasing to see the Australian Government demonstrate positive sentiment towards the R & D Tax Incentive program as it is an important pillar of the innovation ecosystem . There are many exciting technologies being developed across 25 January 2021 Page 1 of 3