Nyrada Inc (ASX:NYR), a biotechnology company, has requested a trading halt on its securities. This decision is linked to an upcoming announcement regarding a proposed capital raising. The halt will continue until either the announcement is released or normal trading resumes on 28 October 2024.
Nyrada Inc has announced a trading halt on its securities to manage disclosure obligations effectively. The halt is linked to a forthcoming announcement about a proposed capital raising. This halt will last until the announcement is made or trading resumes on 28 October 2024. Nyrada Inc is a biotechnology company working on small-molecule therapies, specifically targeting TRPC ion channels. Its lead candidate, NYR-BI03, is positioned for a Phase I clinical trial. The company is taking these steps to ensure regulatory compliance and transparent communication with the market. The upcoming capital raise is part of its strategy to advance its therapeutic developments.
The trading halt is necessary to allow the company to make an announcement regarding a proposed capital raising. This is done in compliance with ASX Listing Rule 17.1 to maintain market integrity.