4. REVENUE (CONTINUED) Neuren is eligible to receive quarterly royalty income, calculated as a percentage of net sales of DAYBUE in North America and is recognised in the period Acadia makes the sales of DAYBUE. Sales of DAYBUE commenced in April 2023. The royalty rate for annual sales of less than or equal to US$250 million is 10%. The royalty rate then increases to 12% for annual net sales greater than US$250 million but less than or equal to US$500 million. 2023 $’000 2022 $’000 Other income Interest income 5,687 391 Australian R&D tax incentive 17 864 Net foreign currency gains 2,434 1,225 Total other income 8,138 2,480 5. EXPENSES 2023 $’000 2022 $’000 Profit/(loss) before income tax includes the following expenses: Remuneration of auditors Audit of financial statements (Grant Thornton New Zealand Audit Limited) 76 58 Review of financial statements (Grant Thornton New Zealand Audit Limited) 23 12 Total remuneration of auditors 99 70 Employee benefits expense Short-term benefits 2,970 1,607 Post-employment benefits 212 153 Other employee benefits 39 34 Share based payments 1,388 868 Total employee benefits expenses 4,608 2,662 Directors’ compensation Short-term benefits 1,444 732 Post-employment benefits 43 38 Share based payments 289 126 Total Directors' compensation 1,777 896 Other Consultants - share based payments 1,251 994 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2023 40
RkJQdWJsaXNoZXIy MjE2NDg3