Alterity Therapeutics Files 2024 Annual Report

TL;DR

Alterity Therapeutics filed its 2024 20-F, showing its annual financials. Formerly Prana Biotech.

AI Summary

Alterity Therapeutics Ltd. filed its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company, formerly known as Prana Biotechnology Ltd., is incorporated in Australia and operates in the pharmaceutical preparations sector. Its principal executive offices are located in Melbourne, Victoria.

Why It Matters

This filing provides investors with a comprehensive overview of Alterity Therapeutics' financial performance and operational status for the past fiscal year, crucial for understanding the company's trajectory in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Alterity Therapeutics is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 0630 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)
• 000-49843 — SEC File Number (Unique identifier for the company's filings with the SEC.)

Key Players & Entities

• Alterity Therapeutics Ltd. (company) — Registrant
• Prana Biotechnology Ltd. (company) — Former company name
• June 30, 2024 (date) — Fiscal year end
• 000-49843 (dollar_amount) — SEC file number
• Melbourne, Victoria (location) — Business address

FAQ

Key Financial Figures

• $19,123,464 — ons in 1997 and reported net losses of A$19,123,464, A$13,806,515 and A$12,847,061 during t
• $13,806,515 — d reported net losses of A$19,123,464, A$13,806,515 and A$12,847,061 during the fiscal year
• $12,847,061 — sses of A$19,123,464, A$13,806,515 and A$12,847,061 during the fiscal years ended June 30,
• $214,161,131 — 30, 2024, our accumulated deficit was A$214,161,131. We expect to continue incurring losses
• $10,144,682 — the year ended June 30, 2024 we raised A$10,144,682 from the sale of our ordinary shares. W

Filing Documents

• ea0215061-20f_alterity.htm (20-F) — 2266KB
• ea021506101ex2-3_alterity.htm (EX-2.3) — 7KB
• ea021506101ex8-1_alterity.htm (EX-8.1) — 1KB
• ea021506101ex11-1_alterity.htm (EX-11.1) — 98KB
• ea021506101ex12-1_alterity.htm (EX-12.1) — 11KB
• ea021506101ex12-2_alterity.htm (EX-12.2) — 11KB
• ea021506101ex13-1_alterity.htm (EX-13.1) — 4KB
• ea021506101ex13-2_alterity.htm (EX-13.2) — 4KB
• ea021506101ex15-1_alterity.htm (EX-15.1) — 2KB
• ea021506101ex15-2_alterity.htm (EX-15.2) — 2KB
• ea021506101ex97-1_alterity.htm (EX-97.1) — 26KB
• image_001.jpg (GRAPHIC) — 69KB
• ex11-1_001.jpg (GRAPHIC) — 6KB
• ex97-1_001.jpg (GRAPHIC) — 4KB
• 0001213900-24-082281.txt ( ) — 10576KB
• athe-20240630.xsd (EX-101.SCH) — 135KB
• athe-20240630_cal.xml (EX-101.CAL) — 48KB
• athe-20240630_def.xml (EX-101.DEF) — 390KB
• athe-20240630_lab.xml (EX-101.LAB) — 787KB
• athe-20240630_pre.xml (EX-101.PRE) — 414KB
• ea0215061-20f_alterity_htm.xml (XML) — 1896KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No This Annual Report on Form 20-F is incorporated by reference into our Registration Statements on Form S-8 (File Nos. 333-228671, 333-248980 and 333-251073) and our Registration Statements on Form F-3 (File Nos. 333-274816, 333-250076 and 333-251647). INTRODUCTION Alterity Therapeutics Limited (formerly Prana Biotechnology Limited) was incorporated under the laws of the Commonwealth of Australia on November 11, 1997. Our mission is to develop therapeutic drugs designed to treat neurogenerative diseases, currently focusing on Parkinsonian and other movement disorders. The principal listing of our ordinary shares and listed options to purchase our ordinary shares is on the Australian Securities Exchange, or ASX. Since September 5, 2002, our American Depository Shares, or ADSs, have traded on the NASDAQ Capital Market under the symbol "PRAN." On April 8, 2019, we changed our name to Alterity Therapeutics Limited and our ADSs have traded under the symbol "ATHE" since that date. The Bank of New York, acting as depositary, issues American Depository Receipts, or ADRs, each of which evidences an ADS, which in turn represents 600 of our ordinary shares. As used in this annual report, the terms "we," "us," "our", "the Company", "the Group" and "Alterity" mean Alterity Therapeutics Limited and its subsidiaries, unless otherwise indicated. Our consolidated financial statements appearing in this annual report are prepared in Australian dollars and in accordance with the International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB and Australian equivalents to International Financial Reporting Standards as issued by the Australian Accounting Standards Board. Australian Disclosure Requirements Our ordinary shares are primarily quoted on the Austra

Forward-Looking Statements

Forward-Looking Statements Except for the historical information contained in this annual report, the statements contained in this annual report are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and the Private Securities Litigation Reform Act of 1995, as amended, with respect to our business, financial condition and results of operations. Such forward-looking statements reflect our current view with respect to future events and financial results. We urge you to consider that statements which use the terms "anticipate," "believe," "do not believe," "expect," "plan," "intend," "estimate," and similar expressions are intended to identify forward-looking statements. We remind readers that forward-looking statements are merely predictions and therefore inherently subject to uncertainties and other factors and involve known and unknown risks that could cause the actual results, performance, levels of activity, or our achievements, or industry results, to be materially different from any future results, performance, levels of activity, or our achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by applicable law, including the securities laws of the United States, we undertake no obligation to publicly release any update or revision to any forward-looking statements to reflect new information, future events or circumstances, or otherwise after the date hereof. We have attempted to identify significant uncertainties and other factors affecting forward-looking TABLE OF CONTENTS Page PART I 1 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 I

Risk Factors

Risk Factors 1 ITEM 4. INFORMATION ON THE COMPANY 24 A. History and Development of the Company 24 B. Business Overview 25 C. Organizational Structure 36 D. Property, Plant and Equipment 36 ITEM 4A. UNRESOLVED STAFF COMMENTS 37 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 37 A. Operating Results 37 B. Liquidity and Capital Resources 41 C. Research and Development, Patents and Licenses 42 D. Trend Information 43 E. Critical Accounting Estimates 43 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 45 A. Directors and Senior Management 45 B. Compensation 48 C. Board Practices 55 D. Employees 57 E. Share Ownership 58 F. Disclosure of a registrant's action to recover erroneously awarded compensation 62 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 62 A. Major Shareholders 62 B. Related Party Transactions 62 C. Interests of Experts and Counsel 62 ITEM 8. FINANCIAL INFORMATION 63 A.

Financial Statements and Other Financial Information

Financial Statements and Other Financial Information 63 B. Significant Changes 63 ITEM 9. THE OFFER AND LISTING 63 A. Offer and Listing Details 63 B. Plan of Distribution 63 C. Markets 63 D. Selling Shareholders 64 E.

Dilution

Dilution 64 F. Expenses of the Issue 64 i ITEM 10. ADDITIONAL INFORMATION 64 A. Share Capital 64 B. Memorandum and Articles of Association 64 C. Material Contracts 65 D. Exchange Controls 65 E. Taxation 65 F. Dividends and Paying Agents 72 G. 72 H. Documents on Display 72 I. Subsidiary Information 72 J. Annual Report to Security Holders 72 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 72 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 73 PART II 74 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 74 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 74 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 74 ITEM 16. RESERVED 75 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 75 ITEM 16B. CODE OF ETHICS 75 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 75 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 75 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 75 ITEM 16F. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT 76 ITEM 16G. CORPORATE GOVERNANCE 76 ITEM 16H. MINE SAFETY DISCLOSURE 76 ITEM 16I DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 76 ITEM 16J INSIDER TRADING POLICIES 76 ITEM 16K CYBER SECURITY 76 PART III 78 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 78 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 78 CONSOLIDATED ENTITY DISCLOSURE STATEMENT 79 ITEM 19. EXHIBITS 81

SIGNATURES

SIGNATURES 82 ii PART I

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D.

Risk Factors

Risk Factors Investing in our securities involves a high degree of risk and uncertainty. You should carefully consider the risks and uncertainties described below before investing in our securities. Additional risks and uncertainties not presently known to us or that we believe to be immaterial may also adversely affect our business. If any of the following risks actually occurs, our business, prospects, financial condition and results of operations could be harmed. In that case, the daily price of our securities could decline, and you could lose all or part of your investment. These risk factors include: Risks Related to Our Financial Condition We have a history of operating losses and our management has concluded that factors raise substantial doubt about our ability to continue as a going concern and our auditor has included an explanatory paragraph relating to our ability to continue as a going concern in its audit report for the fiscal year ended June 30, 2024. We will need additional funding to operate our business; such funding may not be available or, if it is available, such financing is likely to substantially dilute our existing shareholders. Risks Related to Our Business We are a development stage company engaged in the development of pharmaceutical products and our success in uncertain. We rely on research institutions to conduct our clinical trials and we may not be able to secure and maintain research institutions to conduct our future trials. The institutions that we work with have their own limits and procedures that will influence or limit our ability to conduct research and development and the conduct of clinical trials. We are faced with uncertainties related to our research. Clinical trials as they relate to our business are expensive and time consuming and their outcome is uncertain. We may experience delays in our clinical trials that could adversely affect our business and operations. 1 We may not be able to complete th

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View this 20-F filing on SEC EDGAR