InhaleRx CEO Darryl Davies has agreed to receive shares in the company in lieu of accrued salary otherwise payable to him.
The firm told the ASX the decision was in keeping with its cost-optimisation strategy and prioritisation of available capital towards the advancement of clinical trials of its cannabinoid drug candidates IRX211 and IRX616a.
IRX211 is intended as a treatment for breakthrough cancer pain while IRX616a is aimed at patients with panic disorder. Expenditure on these programs was A$186,000 in the half year ended June 30, 2024.
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