Australian preclinical drug development company, Nyrada Inc. (ASX: NYR) reported that an abstract concerning data from its Brain Injury program was published by the United States’ Military Health System Research Symposium (MHSRS).
This year, owing to the COVID-19 safety concerns, while the Symposium was cancelled, all abstracts and submissions were published online.
Notably, Nyrada’s Brain Injury program is also engaged at improving the survivability of soldiers on the warfront by enabling the treatment following Traumatic Brain Injury (TBI). While, unavailability of treatment to prevent brain damage from secondary image remains a significant concern for US Department of Defense.
The abstract relates to Nyrada’s preclinical work showing its small molecule compound, NYX-104, blocks sustained Ca2+ build up in cells, which primarily drives secondary brain injury. Notably, Nyrada has further advanced significantly in designing and synthesising further compounds (NYX-242, NYX-1010) which have more improved potency.
Post the significant update, NYR soared over 9% to $0.215.
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