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Other Income

9 Months Ended

Jun. 30, 2018

Component of Operating Income [Abstract]

Other Income

Note 3

Other Income

Grant Income

Clinical Study Grant

The Company was awarded grant funding in the amount of $597,886. The grant is being received in equal quarterly instalments over a period of two years in exchange for a commitment to complete clinical testing for a therapeutic drug candidate for the treatment of Rett syndrome.

The grant income is deferred when received and amortized to other income as the related research and development expenditures are incurred. During the three and nine months ended June 30, 2018, the Company recognized $74,528 and $74,528, respectively (2017: $Nil and $Nil, respectively) of this grant on its statement of operations within grant income.

Preclinical Study Grant

During the year ended September 30, 2015, the Company was awarded grant funding in the amount of $286,455. The grant was received in exchange for a commitment to provide research and development for preclinical validation of Sigma-1 receptor agonism as potential treatment for Parkinson’s disease.

The grant income was deferred and amortized to other income over the related commitment period as the related research and development expenditures were incurred. During the three and nine months ended June 30, 2018, the Company recognized $Nil and $Nil, respectively (2017: $69,146 and $121,116, respectively) of this grant on its statement of operations within grant income.

Research and development tax incentive

During the three and nine months ended June 30, 2018, the Company received other income of $1,629,513 and $1,629,513, respectively (2017: $Nil and $2,022,902, respectively) in respect of a research and development incentive program offered by the Australian government.