Note 2023 $’000 2022 $’000 Cash flows from operating activities: Receipts from licence agreement 221,004 15,921 Withholding tax paid (11,840) – Receipts from Australian R&D Tax Incentive 882 1,393 Interest received 4,360 188 GST refunded 272 252 Payments for employees and directors (5,161) (2,814) Payments to other suppliers (24,592) (11,341) Net cash flow received from operating activities 184,925 3,599 Cash flows from investing activities: Purchase of property, plant and equipment (40) (19) Transfer of funds to short-term investments (211,445) – Net cash flow (used in) investing activities (211,485) (19) Cash flows from financing activities: Proceeds from the issue of shares 13 3,637 – Payment of share issue expenses (18) (2) Net cash flow received from/(used in) financing activities 3,619 (2) Net (decrease)/increase in cash (22,941) 3,578 Effect of exchange rate changes on cash balances (145) (181) Cash and cash equivalents at the beginning of the year 40,180 36,783 Cash and cash equivalents at the end of the year 17,094 40,180 Reconciliation with profit after income tax: Profit after income tax 157,081 184 Non-cash items requiring adjustment: Depreciation of property, plant and equipment 17 10 Share based payments expense 2,928 1,988 Foreign exchange loss 136 184 Loss on financial assets 1,526 700 Changes in working capital: Trade and other receivables (15,551) 194 Trade and other payables 2,440 339 Current and deferred taxes 36,348 – Net cash received from operating activities 184,925 3,599 The notes on pages 34 to 50 form part of these consolidated financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 Neuren Pharmaceuticals Limited Annual Report 2023 33
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