Nyrada Inc (ASX:NYR) Full Year Results FY21

Highlights:
• Research and development costs of $2.2M as Nyrada’s lead preclinical programs advance (FY2020: $1.4M)
• Capital raising program completed raising $11.5M to fund Phase I clinical trials in both Nyrada’s lead drug development programs
• Robust cash position of $13.8M as at 30 June 2021 and expects to receive FY2021 R&D tax incentive refund of $1.3M in the fourth quarter of CY2021, further boosting capital resources
• Cholesterol-Lowering Program advances with encouraging preclinical results, first patent granted by US Patent and Trademark Office and Phase I expected to commence mid-CY2022
• New lead drug candidate selected for Brain Injury Program efficacy studies in collaboration with the Walter Reed Army Institute of Research (WRAIR) and University of NSW Sydney (UNSW), preliminary tests in Q1 FY2022, with initial results expected before the end of CY2021