News and Announcements
Novogen Annual Cost Savings Identified of$1.8M, Allowing for Greater Focus on R&D Investment
- Published August 18, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Novogen Ltd (ASX:NRT) an Australian oncology drug development company, have recently provided an update on the company’s business operations.
KEY TAKEAWAWAYS:
- Board and management have reviewed all business operations following the appointment of a new Chairman during June 2017.
- Approximately $1.8 million of annual cost savings identified, allowing greater focus on R&D investment.
- Shareholder feedback, depository holders instructed not to exercise “unvoted ADR proxies at future general meetings.
- The company has confirmed compliance with NASDAQ listing rules following revision of ADR consolidation ratio.
Novogen Chairman, Ian Ross, commented: “recent efforts have significantly improved the efficiency of Novogen as a business, and will allow us to better devote our resources to delivering on the substantial value that resides in our pipelined.”
“The company has taken on board and listened carefully to the feedback of shareholders, and has shown its commitment to delivering shareholder value in accordance with the best principles of corporate governance.”
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