Key points
- Development of lead drug candidate NYR-BI03 continues with Phase I clinical trial and collaborative TBI study
- Sound financial and strategic position with cash position of AU$4.76 million at 31 March 2025
- Preliminary international patent search affirms novelty and inventiveness of NYR-BI03
Full summary
Nyrada Inc. (ASX:NYR), a drug discovery and development company focused on innovative Transient Receptor Potential Canonical (TRPC) ion channel blockers, has announced its Quarterly Activities Report and Appendix 4C for the three-month period ending 31 March 2025. The key highlights include the continued development of the lead drug candidate NYR-BI03, a sound financial and strategic position, and the affirmation of the novelty and inventiveness of NYR-BI03 through a preliminary international patent search. The Phase I clinical trial for NYR-BI03 has commenced, with the first cohort of participants dosed and discharged, and the second cohort recruitment in progress. Additionally, a collaborative traumatic brain injury (TBI) study with the Walter Reed Army Institute of Research (WRAIR) and UNSW Sydney reported that NYR-BI03 demonstrated statistically significant neuroprotection. Nyrada's cash position as of 31 March 2025 was AU$4.76 million, with total cash operating outflows for the quarter of approximately AU$1.0 million. The company also filed a provisional patent application in September 2024 to protect its intellectual property related to TRPC channel blockers, and a preliminary international patent search has affirmed the novelty and inventiveness of Nyrada's TRPC-targeting claims.