Nyrada Inc - Annual Report 2021

NYRADA INC (ASX:NYR) 18 Financial Position 2021 $ 2020 $ Cash and cash equivalents 13,750,743 5,146,169 Net assets / total equity 14,491,626 5,526,600 Contributed equity 25,320,332 15,607,349 Accumulated losses (15,555,619) (12,285,073) The Directors believe the Consolidated Entity is in a strong and stable financial position to expand its current operations. Liquidity and capital resources Nyrada ended the financial year with cash of $13,750,743 and anticipates receiving a Research and Development tax incentive refund for FY2021 of $1,309,560 following 30 June 2021, further boosting capital resources. Matters subsequent to the end of the financial year On 30 July 2021 the Company announced it had been granted a US Patent for its PCSK9 Inhibitor. On 13 August 2021 the Company announced exploratory analysis results from its in vivo cholesterol efficacy study. No other matters or circumstances have arisen since 30 June 2021 that have significantly affected, or may significantly affect the Consolidated Entity's operations, the results of those operations, or the Consolidated Entity's state of affairs in future financial years. Future developments, prospects, and business strategies Disclosure of information regarding likely developments in the operations of the Company in future financial years and the expected results of those operations is likely to result in unreasonable prejudice to the Company. Information on future developments, prospects, and business strategies have only been referred to in the Chairman’s Letter and CEO Report. For further information on the Company’s business strategies and material risks, refer also to the Prospectus which is available on the Company website or ASX Announcements. Environmental regulation The Consolidated Entity is not subject to any significant environmental regulation under Australian Commonwealth or State law.