Nyrada: Receives $1.3m R&D rebate for drug programs

Nyrada Receives $1.3m R&D rebate for drug programs

• Nyrada (NYR) receives a $1.3 million research and development rebate
• The rebate relates to expenditure on cholesterol-lowering and brain injury drug development programs
• The company says the projects target markets of significant size and considerable unmet clinical needs
• The amount received will partially fund the progression of two Phase I clinical trials, as well as the working capital requirements of Nyrad a
• The amount received will partially fund the progression of these two Phase I clinical trials, as well as the working capital requirements of Nyrad a
• Shares in Nyrad a were up 4 per cent and last traded at 26 cents each