• Revenues down 64% to $884,584
• Loss of $2.46M compared to profit of $0.14M in prior period
• Cash position of $5.71M as of 31 Dec 2024

Nyrada Inc. reported a loss of $2.46M for the half-year ended 31 December 2024, compared to a profit of $0.14M in the prior period. The loss was primarily attributed to continuing investments in research and development, with R&D expenditure of $1.81M and corporate/administration expenses of $0.48M. The company's cash position stood at $5.71M as of 31 December 2024, enhanced by the receipt of $1.24M in R&D tax incentives and $3.38M from capital raising activities. Nyrada's focus during the period was on the development of its lead drug candidate NYR-BI03, a first-in-class neuroprotection and cardioprotection therapy. The company announced positive preclinical results for NYR-BI03 in stroke and coronary heart disease studies, and submitted a regulatory package to commence a first-in-human Phase Ia clinical trial, which was subsequently approved. Nyrada also submitted patent applications to protect its TRPC channel blocking intellectual property assets.

Nyrada expects to report final readouts from its Phase Ia clinical trial of NYR-BI03 in the third quarter of calendar year 2025.

Nyrada remains committed to developing treatments for diseases with unmet clinical needs, and will be commencing its Phase Ia first-in-human clinical trial of NYR-BI03 in the coming period. The company will also undertake low-cost background work to identify additional potential applications for NYR-BI03.