NYRADA INC. (ASX:NYR) 16 Financial results The loss for the Consolidated Entity after providing for income tax amounted to $6,557,243 (30 June 2025: $4,845,671). The cash position as at 30 June 2026 was $8,384,581 (30 June 2025: $2,930,601). Review of operations Nyrada Inc. (ASX: NYR) is a clinical-stage biotechnology company developing small-molecule inhibitors of Transient Receptor Potential Canonical (TRPC) ion channels. The Company's lead candidate, Xolatryp® is an inhibitor of TRPC3/6/7 channels designed to limit pathological calcium entry into cells. The Company entered the FY2026 year having completed dosing in its first-in-human Phase I trial and exited it with a Phase IIa trial approved, initiated, and recruiting, with the first patient dosed shortly after balance date. Over the year, the Company also extended the Xolatryp program into oncology, commenced preparation of an Investigational New Drug (IND) application for the United States, secured a Notice of Allowance from the US Patent Office, and strengthened its balance sheet, closing the year with $8.38 million in cash. Completion of the Phase I clinical trial In August 2025, the Phase I Safety Review Committee reviewed safety and pharmacokinetic data from the final cohort and observed no dose-limiting safety signals in participants dosed with Xolatryp over a six-hour infusion. Complete unblinded safety and pharmacokinetic results were released later in September 2025. The unblinded dataset confirmed a strong safety profile, with no serious adverse events recorded during the trial and all observed adverse events mild or moderate in nature. Pharmacokinetic analysis demonstrated predictable, linear blood concentrations over time, with no difference in exposure between sexes. These results provided the safety and regulatory foundation required to progress directly into patient testing. PROTECT-MI Phase IIa clinical trial The centrepiece of FY2026 was the design, approval and launch of PROTECT-MI, the Company's Phase IIa clinical trial. The trial will evaluate Xolatryp in patients who have suffered a ST-Elevation Myocardial Infarction (STEMI) and are undergoing angioplasty with stenting (percutaneous coronary intervention, or PCI). Xolatryp is being assessed as a first-in-class intravenous treatment to reduce myocardial ischemiareperfusion injury, a major contributor to long-term cardiac damage following a heart attack for which no therapy is presently approved. Safety and tolerability constitute the trial's primary endpoint. Multiple secondary and exploratory efficacy endpoints are also being evaluated, including cardiac function, the extent of cardiac injury, biomarkers such as troponin I, and the incidence of arrhythmias of interest. Because the trial is randomised, double-blind and placebo-controlled, efficacy data will not be available until the study concludes. The infrastructure for the trial was assembled progressively through the year: • Professor William Chan, Professor of Medicine at the University of Melbourne, was appointed Coordinating Principal Investigator; • Accelagen was engaged as Contract Research Organisation to oversee the conduct of the trial; • Human Research Ethics Committee (HREC) application was lodged in the December 2025 quarter, and approval was received in the March 2026 quarter; and • Research governance approvals were progressed across selected Australian sites. Nepean Hospital in New South Wales was activated early in April 2026, enabling patient recruitment to commence. Sir Charles Gairdner Hospital in Western Australia was activated shortly after the close of the financial year. Research governance office approval is progressing at a further five Australian sites, and discussions are advancing with additional sites in Australia and New Zealand. The Company will monitor recruitment performance across all sites and retains the flexibility, subject to local approvals, to add sites and concentrate resources where recruitment potential is strongest.
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