NYRADA INC – FULL YEAR RESULTS FY22

Highlights:

• Research and development costs of $1.8M as Nyrada’s lead preclinical programs advance (FY2021: $2.2M).
• Robust cash position of $10.8M as at 30 June 2022 providing the Company with sufficient cash reserves for Phase I studies for both programs.
• Cholesterol-Lowering Program progresses with patent grant and further exploratory analysis results, with preclinical safety and toxicology studies expected to commence in H2 CY2022.
• Nyrada’s oral PCSK9 inhibitor was shown to block the early stages of atherosclerosis in a novel human tissue-engineered blood vessel model study run by researchers at Duke University (following financial year-end).
o Optimised compound also demonstrated an improved pharmacokinetic profile and will be evaluated in Nyrada’s Phase I study in the first half of CY2023.
• Brain Injury Program’s NYR-BI02 was revealed as a potent, versatile TRPC ion channel blocker, limiting excitotoxicity with potential to pursue multiple additional indications.
• Preclinical stroke model study results anticipated during Q4 CY2022 with preclinical safety and toxicology studies in Q3 CY2022 and Phase I study in H1 CY2023.