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Alterity THERAPEUTICS Appendix 4C - Q2 FY21 Quarterly Cash Flow Report Highlights : • Dr David Stamler appointed CEO ; Geoffrey Kempler continues as Non - Executive Chairman • New commercial opportunity for PBT2 with UniQuest to reverse bacterial resistance to antibiotics • • • US patent for next generation of compounds to treat neurodegenerative disease Phase 2 clinical program underway with commencement of enrollment in BioMUSE natural history study in US for patients with MSA $ 35M Placement to Australian and international institutions and other unrelated sophisticated , professional , or exempt investors Cash balance as at 31 December 2020 of A $ 35M - MELBOURNE , AUSTRALIA AND SAN FRANCISCO , USA 28 January 2021. Alterity Therapeutics Limited ( ASX : ATH , NASDAQ : ATHE ) ( “ Alterity ” or “ the Company " ) releases its Appendix 4C Quarterly Cash Flow Report and update on company activities for the quarter ending 31 December 2020 ( Q2 FY21 ) . The company's cash position was significantly bolstered with A $ 35M raised through an oversubscribed placement to Australian and international institutions and other unrelated sophisticated , professional , or exempt investors . Operational cash outflow for the period was A $ 4.5M which was in line with company expectations and reflected the commencement of the BioMUSE Natural History study . The proceeds from the placement will be used to progress Alterity's Phase 2 clinical development program for ATH434 , including the BioMUSE Natural History study and a Phase 2 trial , both in Multiple System Atrophy ( MSA ) patients , ongoing research and discovery , and working capital . Post the reporting period , Alterity announced the appointment of Dr David Stamler to the role of Chief Executive Officer . Dr Stamler is based in San Francisco and joined the Company in June 2017 as Chief Medical Officer and Senior Vice President Clinical Development . Mr. Geoffrey Kempler , who founded the company in November 1997 , has stepped down from the role of CEO and continues as Non - Executive Chairman . In accordance with ASX Listing Rule 4.7C , payments made to related parties and their associates included at item 6.1 of the Appendix 4C incorporates directors ' fees , consulting fees , remuneration and superannuation at commercial rates . Operational Activities During the quarter , Alterity made significant operational progress . In December , Alterity was granted a licence by UniQuest , the commercialisation company of The University of Queensland ( UQ ) , to novel zinc ionophore technology to combat antimicrobial resistance in superbugs . Under the licence , Alterity has secured the worldwide exclusive right to patented technology to develop and commercialise therapies that re - sensitise bacteria to antibiotics . The licensed