"CLINUVEL’s cash reserves following a decade of profitable operations give us financial independence in a period that has been challenging for many life science companies," said Mr Peter Vaughan, CLINUVEL’s Group Chief Financial Officer.

"This position provides us with flexibility to pursue an expansion strategy, continue investing through market cycles in key strategic areas, and allocate capital based on opportunity rather than necessity. As CLINUVEL builds its operations and presence in the capital markets in the United States, we can do so from a position of strength."