- Nyrada (NYR) launches in vitro safety and toxicology studies as part of its brain injury program
- The company has been working to deliver an “optimal dose form” of its drug that will be suitable for intravenous administration
- The product has also been under evaluation through a preclinical stroke model, which was slated for the end of Q4 2022
- However, additional time was required to progress the formulation development work, resulting in a delay to the start of the stroke model study, with results now expected this quarter
- Nyrada last traded at 16 cents at 2:29 pm AEDT
Nyrada (NYR) has launched in vitro safety and toxicology studies as part of its brain injury program.
The company has been working to ensure it can deliver an “optimal dose form” of its drug that will be suitable for intravenous administration for its stroke and traumatic brain injury program.
The work is considered “essential” ahead of its upcoming in vivo safety and toxicology studies, phase one trial and stroke model study.
Both of Nyrada’s in vitro and in vivo preclinical studies will be used to evaluate the drug’s safety and tolerability, which has not been tested in humans.
Data from these studies will then determine the safe starting dose for the phase one study.
Meanwhile, the drug has been under evaluation through a preclinical stroke model. The company previously indicated this process would be undertaken at the end of Q4 2022, with results expected early in the new year.
However, additional time was required to progress the formulation development work, resulting in a delay to the start of the stroke model study.
Nyrada said it now expects the results of the stroke model study to be available during the first quarter of this year.
“This year represents a key turning point for the company, with both our brain injury and cholesterol-lowering drug development programs expected to commence phase one clinical trials during the first half of 2023,” Nyrada CEO James Bonnar said.
“The team and I are excited for what lies ahead.”
Nyrada last traded at 16 cents at 2:29 pm AEDT.